A consortium of new and historical backers, led by LSP, has injected €35m into Belgium-based Imcyse, a developer of immunotherapies, as part of a series-B round.
LSP led the financing round of €28m ($31.6m), together with Belgian investors including Epimède, Société Régionale d'Investissement de Wallonie (SRIW), and Société Fédérale de Participations et d'Investissement (SFPI).
Existing shareholders, including Biogenosis (an investment vehicle of the Van Rompay family), Belgian VC Noshaq and University KU Leuven, also participated in the round.
The startup also received a grant worth €4.6m from the Walloon region and a bank loan of €2m from Belfius.
Proceeds will facilitate clinical development of Imcyse's technology in type 1 diabetes, multiple sclerosis and other indications.
Imcyse raised €7m in a first capital round in 2012, the Belgian publication De Tijd disclosed at the time. The main investors were Biogenosis, Francois Fornieri and Jean Michel Foidart.
Founded in 2010 as a spinout from the KU Leuven university, Imcyse is a developer of active specific immunotherapies for the treatment and prevention of severe chronic diseases.
Imcyse's technology platform uses modified peptides (Imotopes), which have the potential to cure and to prevent severe chronic autoimmune diseases, such as type 1 diabetes, multiple sclerosis and other autoimmune diseases, for which there is currently no cure.
LSP – Jörg Neerman (partner).
Imcyse – Pierre Vandepapelière (CEO, chief medical officer).
Noshaq – Marc Foidart (COO).
Biogenosis – Stijn Van Rompay (private investor).
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