Commit Biologics Extends Seed Financing with €5.5M Investment by Korys
Deal News | Jan 28, 2025 | PR Newswire Cision Commit Biologics
Commit Biologics, a leader in cancer and autoimmune disease treatment, announced a €5.5m extension to its seed financing with new investment from Korys, increasing its total seed funding to €21.5m. Previous investors, Novo Holdings and Bioqube Ventures, remain part of the financing syndicate. This financial injection will support the further development of Commit's Bispecific Complement Engaging (BiCE™) platform, which targets the complement system to kill tumor cells selectively, and aims for drug candidate selection by the end of the decade. With these funds, Commit has extended its operational runway into 2026. In conjunction with the financing, Korys's Senior Investment Manager, Eva Van Overmeire, will join Commit's Board of Directors. Additionally, Commit announced the appointment of Mikkel Wandahl Pedersen as Interim CEO, alongside his existing Chief Scientific Officer role. Korys, an investment entity from Belgium with a focus on sustainability, expressed optimism about Commit's technological advancements and potential impact on patient care.
Sectors
- Biotechnology
- Private Equity
Geography
- Denmark – Commit Biologics is based in Aarhus, Denmark, and is actively engaged in biotechnological innovations from this region.
- Belgium – Korys, the investment firm providing the recent funding for Commit Biologics, is based in Belgium, indicating cross-border investment activity.
Industry
- Biotechnology – The industry involves companies focused on the development of innovative treatments using biological processes, such as Commit Biologics' BiCE platform for cancer and autoimmune diseases.
- Private Equity – Korys, a private equity firm, has made an extension investment in Commit Biologics to drive forward its BiCE platform, highlighting its involvement in funding and supporting emerging biotech enterprises.
Financials
- €5.5m – Additional seed financing extension investment provided by Korys to Commit Biologics.
- €21.5m – Total seed financing received by Commit Biologics after the latest extension investment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Commit Biologics | Target Company | Company | A biotech company advancing cancer and autoimmune disease therapies through its BiCE platform. |
| Korys | Investor | Company | An investment company focusing on sustainable value creation, which provided the latest €5.5m funding to Commit Biologics. |
| Novo Holdings | Existing Investor | Company | A global life science investor and part of the initial syndicate funding Commit Biologics. |
| Bioqube Ventures | Existing Investor | Company | A venture capital firm focusing on life sciences that initially invested in Commit Biologics. |
| Eva Van Overmeire | Board Member | Person | Senior Investment Manager at Korys and new member of the Commit Biologics Board of Directors. |
| Mikkel Wandahl Pedersen | Interim CEO & CSO | Person | Appointed as Interim CEO of Commit Biologics, with extensive experience in immuno-oncology and autoimmune disease drug development. |