Eindhoven-based UPyTher, a spin-off company of the Eindhoven University of Technology, announced, on 10 June, that it has secured fresh seed funding. The amount, however, remains undisclosed.
UPyTher is developing new treatments for peritoneal cancer to improve outcomes for patients with colorectal, ovarian, and gastric cancers, where peritoneal cancer is a significant challenge leading to treatment failures and higher mortality rates.
Investors supporting UPyTher
The funding came from Essential Investments, Brabant Development Agency (BOM), and TTT Medtech.
Floris Hamel, Investment Manager at BOM, says, “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.”
Pleuni Hooijman, Investment Manager at Innovation Industries’ TTT MedTech fund, adds, “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 centres.”
Developing drug formulations for peritoneal disease treatment
UPyTher focuses on transforming peritoneal cancer treatment using proprietary polymer technology. Its therapies target the peritoneal cavity, aiming to set a new standard in intraperitoneal therapy.
The company aims to make treatment straightforward, safe, and effective, providing new hope for patients with peritoneal cancer.
UPyTher 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 Eindhoven University of Technology.
Capital utilisation
The investment will fund UPyTher’s preclinical development of its lead product, UPT-211, designed to treat peritoneal metastases of colorectal cancer. It will also support preparations for the first clinical studies involving patients.
Geert van Almen, CEO & co-founder of UPyTher, says, “In combination with the recently granted OPZuid funding this investment will accelerate the preclinical development program for our lead-product UPT-211.”
“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 co-founder & CTO, Peter Paul Fransen.
Brief about the investors
Essential Investments is a seed capital fund based in the Netherlands, specialising in high-tech companies in the life sciences sector. The fund supports R&D-intensive startups and ventures at seed and early stages.
The Brabant Development Agency (BOM) supports startups focusing on critical technologies, health advancements, climate-neutral energy, and sustainable food supplies. It helps startups grow into scale-ups and global enterprises.
Operating under the Ministry of Economic Affairs and Climate Policy and the Province of Brabant, BOM collaborates with numerous businesses annually to foster innovation and economic development.
The Thematic Technology Transfer (TTT) MedTech consortium is a collaboration among Technology Transfer Offices of four Dutch Technical Universities, three academic medical centres, and Innovation Industries, supported by the Netherlands Enterprise Agency (RVO).
Its mission is to assist early-stage tech spin-offs in commercialising medical technologies.
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