Netherlands-based Flindr Therapeutics, a company focused on precision cancer treatments, announced that it has secured €20M in a Series A round of funding.
This funding will help advance the Dutch company’s cancer treatment pipeline, which includes “first-of-its-kind” small molecule inhibitors.
Investors supporting Flindr Therapeutics
V-Bio Ventures led the funding round, joined by new investors Johnson & Johnson Innovation – JJDC, Inc. (JJDC), QBIC Fund, Flanders Future Tech Fund, and Curie Capital.
Existing investors Oncode Oncology Bridge Fund, Swanbridge, and Brabantse Ontwikkelings Maatschappij (BOM), also participated in this round.
With this deal, the Flindr Supervisory Board of Directors will include Christina Takke from V-Bio Ventures, Chris De Jonghe from Oncode Institute, Tine Bekaert from Flanders Future Tech Fund, Cedric van Nevel from QBIC Fund, and Allard Kaptein, who serves as CEO of Genase Therapeutics and Chief Strategy Officer of IMMIOS.
Additionally, a representative from JJDC will also join the board.
Developing next-gen precision oncology treatments
Flindr Therapeutics is a private biotech company specialising in advanced precision oncology treatments.
Formerly known as Immagene, Flindr was established in 2020 by its founders, Prof. Daniel Peeper, Prof. Christian Blank, and Dr. Maarten Ligtenberg, as a spin-out from the Netherlands Cancer Institute (NKI) and Oncode Institute.
The company combines scientific expertise in translational biology, cancer target identification, immuno-oncology, and small molecule oncology drug development. It claims to have identified and developed covalent small molecule inhibitors, taking them from discovery to market approval.
Flindr uses the “ImmunoGram Drug Discovery Engine”, a method that involves reverse-translating the complex diversity of tumor-specific and host-specific factors observed in clinical patients into lab-based biological models.
Through this approach, the company screens and identifies crucial drug targets involved in patient clinical responses.
Flindr focuses on a “first-in-class” small molecule inhibitor targeting RNF31 (HOIP), an E3 ubiquitin ligase that is overactive in various cancers.
“Promising preclinical results” have been achieved in ovarian cancer and B-cell lymphoma models, along with the identification of biomarkers to pinpoint patients likely to benefit from RNF31 inhibitor treatment.
Capital utilisation
Flindr will use the funding to advance its lead programme towards Investigational New Drug Application (IND) status, initiate a second programme, and expand its pipeline using the ImmunoGram Drug Discovery Engine.
Maarten Ligtenberg, PhD, CEO and founder of Flindr, says, “This €20M Series A financing will help us translate our precision targets into precision therapies, with the ultimate goal of potentially transforming the lives of patients with cancer.”
“The backing of this highly regarded investor syndicate is a strong validation of our unique approach and the potential of our pipeline.”
In 2023, Flindr partnered with VIB, a life sciences research institute in Flanders, and Professor Rudi Beyaert’s lab at the VIB-UGent Center for Inflammation Research. The collaboration aims to harness their extensive expertise in immunology, including RNF31 biology, and the development of animal cancer models.
Working together, they will further validate RNF31 as a therapeutic target and enhance Flindr’s ability to predict drug safety.
01
From port to startup fort: How Lars Crama is ‘Making it Happen’ in Rotterdam