eureKARE invests in Coave Therapeutics as part of its €33 million Series B round
Fourth portfolio investment in clinical stage ocular and CNS focused gene therapy company
Luxembourg and Paris, France – 21 July 2021: eureKARE (“the Company”), a pioneering new company focused on financing and building next generation biotechnology companies in the disruptive fields of the microbiome and synthetic biology, today announces its fourth portfolio investment in Coave Therapeutics (pronounced ‘cove’; formerly known as Horama).
Coave Therapeutics is a clinical-stage biotechnology company focused on developing life-changing gene therapies in rare ocular and CNS (Central Nervous System) diseases. Coave Therapeutics’ next-generation AAV-Ligand Conjugate (‘ALIGATER’) platform enables targeted delivery and enhanced gene transduction to improve the effectiveness of advanced gene therapies for rare diseases.
eureKARE participated in the €33 million ($39 million) Series B Financing alongside new investors Seroba Life Sciences and Théa Open Innovation and joining existing investors Fund+, Omnes Capital, V-Bio Ventures, Kurma Partners, Idinvest, GO Capital, and Sham Innovation Santé/Turenne.
Rodolphe Besserve, Chief Executive Officer at eureKARE, commented: “We are excited by Coave Therapeutics’ dual approach, with a clinical-stage project in a rare disease, as well as its potentially disruptive ALIGATER gene delivery technology, which has broad applicability in rare ocular and CNS diseases, in development. We strongly believe in Coave’s next-generation AAV vector platform and look forward to supporting the company as an investor.”
eureKARE considers investing in the gene therapy field an integral part of the large synthetic biology domain. The investment in Coave Therapeutics marks eureKARE’s fourth investment and follows initial investments in specialized microbiome companies, Stellate Therapeutics and NovoBiome, and investment in a synthetic biology company, Omne Possibile.
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eureKARE is a unique project development company dedicated to investing and developing next generation biotechnology companies in the cutting-edge fields of the microbiome and synthetic biology. eureKARE has a two-step investment approach to deliver long-term value creation. The Company supports translational research by creating and financing new companies out of high value European science through its biotech start-up studios eureKABIOME (Microbiome) and eureKASYNBIO (Synthetic biology). The Company also intends to invest in more mature biotech companies and will systematically propose to offer some liquidity to early investors, thereby addressing a critical need in the European biotech field. Guided by its influential founder, Alexandre Mouradian, and a pan-European team, eureKARE has a rapidly growing portfolio of companies that have the potential to disrupt the life sciences industry.
About Coave Therapeutics
Coave Therapeutics is a clinical-stage biotechnology company focused on developing life-changing gene therapies in rare Ocular and CNS (Central Nervous System) diseases. Coave Therapeutics’ next-generation AAV-Ligand Conjugate (‘ALIGATER’) platform enables targeted delivery and enhanced gene transduction to improve the effectiveness of advanced gene therapies for rare diseases. The Company is advancing a pipeline of novel therapies targeting rare ocular and brain diseases where targeted gene therapy has the potential to be most effective, where there is a clear unmet need and where success will provide rapid validation of our ALIGATER platform. Coave Therapeutics, which is headquartered in Paris (France), is backed by leading international life science and strategic investors Seroba Life Sciences, Théa Open Innovation, eureKARE, Fund+, Omnes Capital, V-Bio Ventures, Kurma Partners, Idinvest, GO Capital, Sham Innovation Santé/Turenne.
For more information, please visit www.coavetx.com
Marina Shapochnik, Head Investor Relations
Consilium Strategic Communications
Amber Fennell, Carina Jurs, Genevieve Wilson
+44 (0) 203 709 5000