Molecular imaging to tackle oncological, cardiovascular, and immunological diseases

Brussels, Liège, December 5, 2022. ABSCINT is a clinical stage molecular imaging company that develops radiopharmaceutical diagnostics to guide patients and doctors to the right treatment at the right time. Its technology platform relies on the use of single-domain antibodies, which enables fast targeting of specific molecular markers that can be visualised over the entire body by a short scan. Molecular imaging is used for the diagnosis of disease, for treatment selection, and for monitoring treatment response. The company has two clinical stage programs: one in oncology and one in cardiovascular. The technology of ABSCINT, a VUB spin-off, is based on the joint research efforts of the teams of Prof. Dr. Tony Lahoutte at the VUB and Prof. Dr. Jo Van Ginderachter at the VIB-VUB Center for Inflammation Research.

Financing and solid partnerships

ABSCINT is thrilled to reinforce its existing investors’ basis with the addition of two new private investors, who are very knowledgeable in the diagnostics and nuclear medicine fields. The new financing round gives ABSCINT access to an additional 1 Mio €.

The financing round was led by Noshaq with Qbic as co-lead investor, and supported by UZ Brussel, who also participated in the previous investment round.

The new investors are Kazoku and Trasis, who bring valuable expertise to ABSCINT. Kazoku will be represented in the board of ABSCINT by Didier Allaer. Didier is an experienced entrepreneur, who grew his former company Diagenode from a small start-up to a major diagnostic company that was sold to Hologic in 2021. Trasis, founded by Jean-Luc Morelle and Gauthier Philippart in 2004, designs, manufactures, sells, and supports high-performance synthesizers, dose preparation equipment, accessories, and reagents for the preparation of radiopharmaceuticals.

With this new capital increase, ABSCINT continues the development of two radiopharmaceutical diagnostics, i.e., ABSCINT-HER2 for the detection of HER2 cancers, including breast and gastric cancers (whether HER2-low or HER2-positive), and ABSCINT-206 for the detection of cardiac sarcoidosis.

Experienced management team

ABSCINT has set up its operations in Liège, Belgium and is led by Karine Clauwaert as CEO. The management team of ABSCINT holds strong industry experience and expertise in the production of single domain antibodies, development, and production of drug products and of radiopharmaceuticals.

Karine Clauwaert (CEO ABSCINT): “This financing puts us in an excellent position to further develop our products. Our technology is a platform that will bring diagnostic solutions in multiple diseases with high clinical needs. I am extremely pleased that both Kazoku and Trasis believe in our company and will help us with the development of our diagnostic products.”

Gauthier Philippart (CEO Trasis): “At Trasis we do our utmost best to support the development of the radiopharmaceutical field. A field that allows addressing unmet medical needs in oncology, neurology, and rare diseases. Until now it has been by developing equipment and services. Recently we obtained GMP certification (for APIs and sterile drugs), which enables us to secure and accelerate the manufacturing of products needed by our partners. We also support and co-invest in the value chain of radiopharmacy and digital imaging and support the development of new start-ups such as ANMI, Osimis, Live Drop and now ABSCINT. Sharing some of our acquired expertise is another way to contribute to the development of a better quality of life.”

Leen Limbourg (Board Representative Noshaq): “Our continued support for ABSCINT represents a significant opportunity to participate in the development of what we believe is an exciting diagnostic technology addressing a high medical need for patients suffering from cancer.”

For more information, please contact :

Karine Clauwaert, CEO ABSCINT
karine.clauwaert@abscint.com

About Kazoku

Kazoku is the investment vehicle of the Allaer family. Kazoku focuses on early-stage innovative projects in life science, biotech, and environmental technology. Impacting finance and positive management are important criteria for Kazoku its investment strategy.

About Noshaq

Noshaq is a Belgian investment fund and project developer with a portfolio of 469 companies and 600 million euros of resources. Noshaq is the reference financial partner for the creation and development of SMEs in the Liege Region (Wallonia). Over the years, Noshaq has developed a range of financing vehicles in line with the needs and trends of the market and its strategy. Each service offered by Noshaq (capital – loan – leasing) is always determined according to the demand and needs of the owner-investor. The objective is always to have a leverage effect on the company’s development. More information: www.noshaq.be

About Qbic

Qbic is an inter-university seed and early-stage venture capital fund focusing on creating impact through the transformation of technological breakthroughs into sustainable business. Qbic is a sector-agnostic, supporting young innovative companies that valorise research from Qbic’s knowledge partners. The fund typically participates in the first external investment round of a company and continues to support and invest in these companies throughout their growth. More information: www.qbic.be

About Trasis

Trasis, headquartered in Ans, Belgium, designs and supplies radiochemistry instruments, quality control instruments, radiation protection devices and injection systems for the practice of nuclear medicine, such as the preparation and administration of radiopharmaceuticals. Trasis is GMP Part I and Part II certified and produces ready-to-use disposable components and reagents for third parties as well as for its various instruments. The company also develops customized synthetic methods and instruments adapted to the evolving needs of nuclear medicine. More information: www.trasis.com

About UZ Brussel

UZ Brussel (University Hospital Brussels) has a staff of more than 3,800 employees. It is attached to the Faculty of Medicine and Pharmacy of the Vrije Universiteit Brussel on the Brussels Health Campus in Jette. With 721 hospital beds, it accounts for 30,779 admissions of patients each year from Belgium and abroad, 412,246 consultations (emergencies not included) and 78,840 patients at the emergency care. Its philosophy is founded on three principles: Dutch-speaking, pluralist and social. As a university hospital, it also has a teaching mission and conducts scientific research. More information: www.uzbrussel.be

About VIB

VIB is an entrepreneurial non-profit research institute, with a clear focus on groundbreaking strategic basic research in life sciences and technology transfer. It operates in close partnership with the five universities in Flanders – Ghent University, KU Leuven, University of Antwerp, VUB, and Hasselt University.

Thanks to the contribution of more than 1,800 top scientists and sustained funding by the government of Flanders, VIB is widely recognized as an established and world-leading knowledge center in life sciences and biotechnology with an excellent reputation in technology transfer.

VIB scientists study the molecular mechanisms that regulate the functions of the human body, plants, and microorganisms. Such mechanistic research leads to innovative insights into the normal and abnormal/pathological life processes, with the potential to use these insights to develop novel therapeutics, diagnostics, agricultural applications, and technologies. These applications and technologies are often further developed by young VIB start-ups or through collaborations with other companies. VIB is highly committed to being the driving force behind the growth of the dynamic life sciences cluster in Flanders.

VIB also engages actively in the public debate on biotechnology by developing and disseminating a wide range of science-based information. More information: www.vib.be

About VUB

Vrije Universiteit Brussel (VUB) is an internationally oriented university in Brussels, the heart of Europe. By providing excellent research and education on a human scale, VUB wants to make an active and committed contribution to a better society. More information: www.vub.be