ChromaCure has spun out of Université libre de Bruxelles with $19.6m in funding to commercialise treatments for cancer based on a new understanding on tumour metastasis.
ChromaCure, a Belgium-based cancer therapy developer, has been spun out of Université libre de Bruxelles with €17m ($19.6m) in funding led by VC firm New Science Ventures, Les Echos reported today.
The round also included venture capital firms Newton Biocapital and Sambrinvest, as well as Walloon state-owned investment company SRIW and angel investors Pierre Drion and Jean-Claude Marian.
ChromaCure will develop cancer treatments based on research that recently defined cellular transition states occurring during the disease’s progression for the first time. The work was spearheaded by Prof Cédric Blanpain, who led a team of approximately 40 researchers.
Understanding the cellular transition states makes it easier to predict if a tumour will metastasise, improving the accuracy of a prognosis and diagnosis.
The funding will enable ChromaCure to develop an initial pipeline of drug candidates aimed at a variety of cancers.
The spinout will be led by chief executive Jalal Vakili, previously the director of external opportunities, oncology unit, at pharmaceutical group Institut de Recherches International Servier.
