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09-Jan-2025

Coave Therapeutics Secures €32 Million ($33 Million) in Series A Financing to Advance its Next-Generation Genetic Medicines

  • Financing co-led by Novo Holdings A/S and Bpifrance (as part of the InnoBio investment strategy) and joined by leading US and EU investors Invus and UI Investissement alongside existing investors 
  • Proceeds to advance Coave’s proprietary ALIGATER™ platform to enhance targeting, specificity, efficacy and manufacturability of genetic medicines with broad clinical applications
  • Funds will also progress Coave’s lead therapeutic programs towards CTA/IND stage

Paris, France, January 9, 2025 – Coave Therapeutics (‘Coave’), a company pioneering the future of genetic medicines, today announces the successful raising of €32 million ($33 Million) in Series A financing. The financing was co-led by Novo Holdings A/S and Bpifrance, with participation from Invus and UI Investissement, alongside existing investors Seroba Life Sciences, Fund+, Kurma Partners, Omnes Capital and Turenne Capital.   

The financing will enable Coave to advance its proprietary ALIGATER™ (Advanced Vectors-Ligand Conjugates) platform, a breakthrough technology addressing key limitations in the delivery of genetic payloads to extra-hepatic tissues, including limited tissue specificity, delivery efficiency and safety. ALIGATER™ enables conjugation of targeting ligands, such as small molecules, peptides, or antibody fragments, on AAV or non-viral vectors, offering superior delivery efficiency, tissue specificity and safety profile for a broad range of diseases. Importantly, the platform streamlines the manufacturing process by avoiding prior AAV capsid modifications. These capabilities will enable Coave to develop best-in-class gene therapies designed for specific indications.

The funding will also enable Coave to advance its lead preclinical assets towards clinical development, with a primary focus on the central nervous system (CNS), neuromuscular and eye diseases. Coave plans to move two development candidates to CTA/IND-enabling studies in 2026.

We are delighted to welcome this group of top-tier investors who share our vision for the ALIGATER™ platform. This funding is a critical milestone for Coave as we work to develop a new generation of targeted, safer, and more efficacious gene therapies,” said Rodolphe Clerval, CEO of Coave.It also reinforces our ability to expand collaborations with pharma and biotech partners, driving innovation in the field of genetic medicines for a broad range of diseases.”

Emmanuelle Coutanceau, Partner at Seed Investments, Novo Holdings, commented: “Coave’s unique technology platform, strong proof-of-concept data, and experienced team, positions it as a leader in developing new generations of gene therapies. We are excited to see Coave acquiring one of our stealth-mode companies, broadening their international presence in Denmark.”

"Coave, with its ALIGATER™ platform for creating a new class of targeted gene therapies, has the potential to deliver groundbreaking new treatments to patients in need," said Jean-François Morin, Investment Director at Bpifrance – InnoBio Funds. "With this Series A financing and a top tier team, Coave will be able to progress its pipeline of internal programs."

In connection with the financing, Emmanuelle Coutanceau from Novo Holdings and Jean Francois Morin from Bpifrance will join Coave’s Board of Directors.

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Last Updated: 09-Jan-2025