UPyTher attracts seed financing to advance the development of its lead product UPT-211 for treatment of peritoneal cancer of colorectal cancer origin.
Eindhoven, The Netherlands, June 10th, 2024, UPyTher announces seed financing from Essential Investments, Brabant Development Agency (BOM) and TTT Medtech.
UPyTher pioneers innovative therapeutics for the treatment of patients with peritoneal cancer. Peritoneal cancer is an unmet medical need, often contributing to treatment failure and increased mortality rates in patients with colorectal, ovarian, and gastric cancers. The investment will enable the preclinical development of UPyTher’s lead product UPT-211 for the treatment of peritoneal metastases of colorectal cancer and prepare for the first in-patient studies.
“In combination with the recently granted OPZuid funding this investment will accelerate the preclinical development program for our lead-product UPT-211” says CEO Geert van Almen. “We are excited to support UPyTher in their journey to advance their innovative approach which holds significant potential towards addressing the huge unmet medical need for better treatment of peritoneal cancer”, says Benjamin Sieters, Fund Manager at Essential Investments.
“With its unique products UPyTher has the potential to make a significant impact on the lives of patients diagnosed with peritoneal cancer and change the current treatment paradigm by making intraperitoneal therapy simple, safe and effective”, adds Floris Hamel, Investment Manager at BOM.
“Additionally, this funding allows us to demonstrate the effectiveness and safety of our proprietary technology to serve as a platform to develop a wide portfolio of innovative and effective therapeutics to treat peritoneal cancer of other primary cancers such as ovarian and gastric cancer, as well as multiple other disorders in the peritoneal cavity”, adds CTO Peter Paul Fransen.
“The company develops breakthrough solutions for high medical need indications, leveraging the world leading position in supramolecular polymer chemistry and materials designed by UPyTher’s founders at the Eindhoven University of Technology. This matches well with our aim to support innovations conceived by spin-offs from Dutch universities and medical centers”, says Pleuni Hooijman, Investment Manager at Innovation Industries’ TTT MedTech fund.
About UPyTher B.V.
UPyTher B.V. is a private pharmaceutical company based in Eindhoven, the Netherlands that is dedicated to turning peritoneal cancer into a treatable disease. Building upon proprietary polymer technology, UPyTher pioneers innovative therapeutics that are specifically designed and developed for use in the peritoneal cavity. UPyTher aims to establish a new standard in intraperitoneal therapy that offers lifesaving opportunities for patients and makes intraperitoneal therapy simple, safe and effective.
UPyTher B.V. was founded in 2020 by Professor Patricia Dankers, Dr. Peter-Paul Fransen and Dr. Geert van Almen as a spin-off from the DankersLab research group at the Eindhoven University of Technology.
For more information: www.upyther.com | Contact: CEO, Geert van Almen: g.vanalmen@upyther.com
About Essential Investments
Essential investments is a seed capital fund focusing on high-tech companies within the life sciences sector. The Netherlands-based fund provides seed and early-stage investments for R&D-intensive startups and ventures. Backed by experienced angel investors and a strong network, the fund uses a hands-on mentality to help innovations reach the market.
About Brabant Development Agency (BOM)
The Brabant Development Agency (BOM) helps startups working towards critical technologies, healthy futures, climate-neutral energy and sustainable food supplies get the assistance and finance they need. It also helps them take off and develop into scale-ups and companies that aspire to go global. BOM collaborates with dozens of businesses each year to this effect. The firm is an executive arm of the Ministry of Economic Affairs and Climate Policy and the Province of Brabant.
For more information: www.bom.nl
About TTT MedTech Fund
The Thematic Technology Transfer (TTT) MedTech consortium is a cooperative alliance between Technology Transfer Offices of the four Dutch Technical Universities, three academic medical centers and Innovation Industries, with the support of the Netherlands Enterprise Agency (RVO). It was founded to help promising early-stage tech spin-offs take the first step towards commercializing disruptive medical technologies.
For more information: www.tech-transfer.nl/en/services/medtech
