Matisse Pharmaceuticals secures a € 1.9 million financing round led by Chemelot Ventures

Biotechnology company, Matisse Pharmaceuticals, 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.

Sittard-Geleen (NL), 15 November 2016, 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 –
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 –
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.

About LBDF
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.

About M6229
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.

Company contact:
Matisse Pharmaceuticals B.V.
Bob Kool (CEO) Harry Relouw (CFO)
+31 6 53178852 +31 6 51311441