Alumni news: TargED Biopharmaceuticals Secures Prestigious EIC Grant to Advance Targeted Thrombolytic Therapy

TargED Biopharmaceuticals, Venture Challenge 2018 alumnus and Utrecht-based biotech company, has secured a significant blended finance award from the European Innovation Council (EIC) to accelerate the clinical development of its innovative thrombolytic therapy. The support includes a €2.5 million grant and up to €10 million in equity investment through the EIC Accelerator program.

This milestone boosts the development of TGD001, TargED’s first-in-class biological therapy for severe thrombotic conditions such as thrombotic thrombocytopenic purpura (TTP) and acute ischemic stroke (AIS). By using antibody fragments (VhH) to deliver enzymes precisely to the site of the clot, TargED's targeted approach aims to transform thrombolysis — regardless of clot composition — and reach patients faster and more effectively.

“Winning this competitive EIC grant underscores the groundbreaking potential of our thrombolytic therapy to transform treatment for patients suffering from thrombosis,” said Kristof Vercruysse, Co-founder and CEO. “It not only validates our delivery approach, but also empowers us with strategic resources and EU-wide visibility to scale our solution and bring it to those in need.”

The EIC support will fund pivotal activities such as:

• Advanced manufacturing scale-up for GMP-grade TGD001

• IND-enabling toxicology and pharmacology studies

• Preparation for Phase 2 clinical efficacy trials

The grant also unlocks access to the EIC Business Acceleration Services, including strategic guidance, investor connections, and European-wide exposure.

Founded in 2020 as a spin-off from University Medical Center Utrecht, TargED has since raised over €45 million to support its mission of delivering safer, faster and more targeted treatments for thrombotic disorders. With this EIC Accelerator support, the company is well-positioned to move beyond proof-of-concept and into pivotal development.

We congratulate the TargED team on this remarkable achievement and look forward to following their continued progress toward clinical impact.

Source: LinkedIn