Matisse Pharmaceuticals raises financing for its phase I/IIa clinical trial treating patients suffering from sepsis.
Sittard-Geleen (NL), March 2020
Matisse Pharmaceuticals BV raised funding to finalize preclinical testing and perform a phase I/IIa clinical trial to treat patients suffering from blood poisoning (also called sepsis) or septic shock.
Matisse received the funding from Netherlands-based Brightlands Venture Partners and LBDF, supported by informal investors and the management team. This was supplemented with a so-called Innovation Credit from the Netherlands Enterprise Agency RVO. “The financing and support of the investors will enable us to finalize a multicenter phase I/IIa clinical trial in the Netherlands. It will be the clinical proof-of-concept study for our product M6229”, says CEO Bob Kool.
Matisse’s platform technology is based on the discovery that in many patients suffering from sepsis, proteins called histones are released from dying cells into the blood stream, where they are toxic to other cells. Due to a self-enforcing cascade, people may die from organ failure within one or two days. Preclinical results have shown that by neutralizing the toxic histones with Matisse’s product M6229, the cascade is stopped, thereby allowing standard of care medication such as antibiotics to become more effective. Matisse claims to have identified an elegant solution for treating one of the major complications in sepsis by using a non-anticoagulant fraction of heparin called M6229 to neutralize toxic circulatory histones. Currently, there is no effective treatment against sepsis. From the 50 million patients globally suffering from sepsis every year, some 11 million people die. This is equivalent to one death every three seconds. According to a recent Lancet study, sepsis is the most common cause of in-hospital deaths, costing over $24 billion annually in the USA alone.
We have seen convincing preclinical results and expect to see these continued in the human trials”, says Marcel Kloosterman – Director at Brightlands Venture Partners. CEO Bob Kool adds: “We, as well as the Key Opinion Leaders involved in the development, are delighted that so many investors, both existing and new investors, have recognized the unmet medical need and potential of the product we are developing. Their decision to invest allows us to bring our groundbreaking program into the clinical phase”
Matisse Pharmaceuticals BV was founded in 2014 in Geleen, the Netherlands. Matisse targets life threatening inflammation by neutralizing cytotoxic components of the inflammatory system. Its main development program is the development of a medicine to fight sepsis and septic shock, which is currently in preclinical phase. www.matisse-pharma.com
About Brightlands Venture Partners
Brightlands Venture Partners (BVP) is an ‘ecosystem investor’, investing in companies benefiting from and contributing to the Brightlands campuses in the south of the Netherlands. Funds under management are Limburg Ventures, Chemelot Ventures and Brightlands Agrifood Fund. Together the funds have made approximately 40 investments. www.brightlandsventurepartners.com
Limburg Business Development Fund (LBDF) offers a mix of financial instruments to develop business concepts, and is part of NV LIOF. LIOF supports innovative entrepreneurs in Limburg with advice, network and financing. They determine the optimum mix of instruments for each individual entrepreneur based on the entrepreneurs’ needs. They help SMEs with innovative ideas, business plans and financing requests, and aid entrepreneurs who want to establish themselves in Limburg. Their goal is to make BV Limburg, and therefore Limburg as a whole, economically stronger. www.liof.nl/en
Matisse Pharmaceuticals raises financing for its phase I/IIa clinical trial treating patients suffering from sepsis|
Matisse Pharmaceuticals secures a € 1.9million financing round led by Chemelot Ventures
Sittard-Geleen (NL), 17 November 2016
Biotechnology company to proceed preclinical development followed by a phase I/II study for the development of M6229 for the treatment of severe sepsis and septic shock.
Matisse Pharmaceuticals, a biotechnology company focused on the development of pharmaceuticals to treat disorders that are associated with fulminant inflammation such as sepsis, announces a € 1.9 million financing round led by Chemelot Ventures. LBDF, management and other seed investors also participated in the round.
The new capital allows the company, located at Brightlands Chemelot Campus in Sittard-Geleen, to proceed and finalize its preclinical work and to continue its development work up to completion of a phase I/II study in men to reach the first molecular proof of concept. The program also entails a cGMP (current Good Manufacturing Practices) based manufacturing of the Investigational Medicinal Product (IMP), used for the phase I/II trial to investigate safety and dose ranging in septic patients.
The treatment of sepsis is still a serious medical challenge. Worldwide millions of people die each year from sepsis or septic shock. Sepsis is one of the most serious complications in the Intensive Care Units causing human suffering and high treatment costs.
The discovery of M6229 was made by researchers of the Cardiovascular Research Institute Maastricht (CARIM), part of the Maastricht Health Campus (MHC). Thanks to researchers Gerry Nicolaes and Chris Reutelingsperger, who combined several technologies available within MHC, initial elementary discoveries were translated into practical concepts for the treatment of sepsis within a relative short time frame.
”We are impressed by the preliminary preclinical data, showing a markedly increased survival of several animal species with bacterial blood infection. Given the smart concept of this breakthrough technology, we have high confidence that results can be repeated in a clinical setting. Such would increase survival for the many septic patients that now die in Intensive Care Units before standard of care antibiotic treatment becomes effective,” said Marcel Kloosterman, Director of Chemelot Ventures.
“The consortium of investors includes lead investor Chemelot Ventures, LBDF and private seed investors, including a very significant investment of the management and inventors. We believe we have a solid financial basis now and investors who are strongly committed to make this development program a success,” said Bob Kool, CEO of Matisse Pharmaceuticals.
About Matisse Pharmaceuticals www.matisse-pharma.com
Matisse Pharmaceuticals is a biotechnology company focused on the development of a treatment for sepsis and septic shock. The product under development (M6229) is based on a low coagulant fraction of heparin. So far investments done by Basic Pharma Holding and funding by the Proof of Concept fund of Valorisation Program Zuid Limburg have led to a feasible manufacturing concept and proof of concept in animal models.
The company was established in 2014 by Basic Pharma Holding and received an exclusive world-wide license on the patent from Maastricht University that describes the extraction of M6229 from unfractionated heparin and its use for the prevention and treatment of sepsis.
About Chemelot Ventures www.chemelotventures.com
Chemelot Ventures is a regional venture capital fund in the southern part of The Netherlands with a focus on smart materials and life sciences. The fund invests in product companies as well as in technology platforms and circular economy initiatives. Chemelot Ventures is the successor of Limburg Ventures fund, which has made 21 investments. Chemelot Ventures is active since 2014, and Matisse Pharmaceuticals will be the eighth investment in the portfolio.
The Limburg Business Development Fund, founded by the Province of Limburg (Netherlands), offers financial instruments to test, develop and market ideas with business potential. Since its start in May 2015, LBDF has provided financing to more than 60 companies, with a focus on hightech startups. LBDF is managed by the regional development company NV Industriebank LIOF.
About severe sepsis and septic shock
Sepsis, or blood poisoning in popular parlance, is a serious complication of a bacterial infection. The human immune system responds to such an infection. The complication occurs when cell nuclei disintegrate and fragments hereof end up in the blood stream, causing negative effects. Certain cell fragments, called histones, damage the cell walls of organs, leading to the release of even more histones. The result is a chain reaction that may lead to organ failure through a combination of internal bleeding, thrombosis (blood clotting) and inflammatory reactions, which are difficult to treat and often result in death.
Histones can be eliminated by heparin. However, heparin inhibits blood clotting, as a result of which the internal bleeding can no longer be stopped. M6229 has the same histon eliminating properties as heparin but without the negative consequences for blood clotting.
The new medicine M6229 limits the complications of the infection, providing more time for the treatment of the infection itself. This may significantly increase patients’ chances of survival. Preclinical trials have yielded positive results. M6229 is patent protected. Matisse Pharmaceuticals will be studying the therapeutic efficacy of the new medicine in clinical trials.
Matisse Pharmaceuticals B.V.
Bob Kool (CEO) Harry Relouw (CFO)
+31 6 53178852 +31 6 51311441