Vasopharm raises EUR 20m to fund Phase III study of VAS203

Vasopharm has successfully raised EUR 20 million of new capital that will fully fund a pivotal, European Phase III study with vasopharm’s lead product VAS203 in moderate to severe Traumatic Brain Injury.

The financing was co-led by existing investors Entrepreneurs Fund, Heidelberg Capital Private Equity and new investor, UK based Fort Rock Capital. Existing investors Bayern Kapital and funds advised by Hanseatic Asset Management LBG also participated in the round. Dr Mario Alberto Accardi, Venture Partner at Fort Rock Capital will be joining the Board of the company as a Non-Executive Director.

First patient expected to be enrolled in VAS203 Phase III trial soon

VAS203 Phase II results demonstrated statistically significant improvements to both short term (Therapy Intensity Level) and long term (extended Glasgow Outcome Scale, 6 months and 12 months) measures of treatment efficacy.  Following interaction with the European Medicines Agency (EMA) vasopharm has designed a Phase III registration study in Europe which, if successful, would lead to regulatory submission of VAS203 for the treatment of moderate and severe TBI. The company says all preparatory groundwork for the clinical trial has been finalised over the last 12 months and “First patient in” is expected in H1 2016.

VAS203 has been granted orphan drug status for the treatment of moderate to severe TBI by the EMA. Severe TBI alone is estimated to cost the European Union EUR 33 billion annually.

Commenting on the announcement, Christian Wandersee, Chief Executive Officer of vasopharm, said: “We are delighted to have successfully raised EUR 20 million to conduct a Phase III study of VAS203, bringing a drug for a highly unmet need closer to market. TBI is a very challenging indication which has proven intractable to all previous pharmacological intervention. We have been extremely rigorous in analysis of our exceptional Phase II data and believe that, in VAS203, we have a drug which will provide physicians with a real opportunity to improve long-term outcomes in this devastating condition.”