VectorY raises EUR 74.5m to take its ALS gene therapy through a key trial readout

VectorY Therapeutics, a clinical-stage biotech based in Amsterdam and Boston, has raised EUR 74.5 million (USD 83.5 million) in new financing, the company announced on Wednesday 11 November. New investors are Angelini Ventures, the Dutch investment agency Invest-NL and the European Investment Bank (EIB).

The EIB's part is a EUR 30 million convertible loan backed by the EU's InvestEU programme, European Biotechnology Magazine reported. The money will fund VectorY's lead programme for amyotrophic lateral sclerosis (ALS) through the final readout of its Phase 1/2 trial.

Who is backing VectorY

Returning investors include Forbion, through its Growth and Ventures strategies, EQT Life Sciences, MRL Ventures, Insight Partners, BioGeneration Ventures (BGV), Eli Lilly and Company and the ALS Investment Fund, according to the company. The financing does not have a series label in the announcement, and no valuation was disclosed.

The EIB loan can later be converted into equity. "Neurodegenerative diseases are devastating and often fatal, with few effective treatments," said Chantal Schrijver, head of the EIB Group's Amsterdam office, in the bank's statement as reported by Lovguiden.

Financing history

VectorY raised a EUR 129 million Series A in November 2023 after a EUR 31 million seed round in 2021. With the new package, its reported financing totals EUR 234.5 million, according to European Biotechnology Magazine.

How the therapy works

VectorY develops what it calls vectorized antibodies. Instead of giving patients repeated antibody injections, the company uses an engineered adeno-associated virus (AAV) to deliver genetic instructions into cells of the central nervous system, which then produce the therapeutic antibody themselves. The aim is lasting treatment from a single administration.

The lead candidate, VTx-002, targets pathological TDP-43, a protein that aggregates abnormally in up to 97% of ALS patients, the company says. VTx-002 is an investigational therapy and has not been approved by any regulator.

The PIONEER-ALS trial

PIONEER-ALS is a global, open-label Phase 1/2 study testing two dose levels of VTx-002 in adults with ALS at sites in the US, Europe and the UK. Its primary goal is to assess safety, tolerability and pharmacokinetics. Secondary and exploratory endpoints include the biomarker neurofilament light chain, TDP-43 related biomarkers and clinical measures such as the ALSFRS-R rating scale, breathing capacity, hand strength and survival.

In September 2026 VectorY expanded the trial from 12 to 36 participants. European Biotechnology Magazine noted that the company has not said when it expects the final readout, and that whether VTx-002 can safely reduce TDP-43 pathology and bring clinical benefit remains unproven.

"It will support the advancement of VTx-002 through important clinical milestones, including the final readout of PIONEER-ALS, while enabling us to leverage our vectorized antibody platform to expand its application in multiple neurodegenerative diseases across our pipeline," said chief executive Jim Scibetta.

Beyond ALS

The financing also supports VTx-003, a preclinical programme against mutant huntingtin protein in Huntington's disease. Earlier programmes include VTx-004 for frontotemporal dementia, which also targets TDP-43, and VTx-005, which targets phosphorylated tau in Alzheimer's disease.

"Its progress with VTx-002, including the expansion of the PIONEER-ALS study, is an important step in evaluating the program's potential," said Wouter Joustra, general partner at Forbion.

What it means for European founders and investors

The round shows how European biotech financings are being built today. A strong insider syndicate carries most of the risk, while public investors such as the EIB and Invest-NL fill gaps with instruments like convertible loans, which reduce immediate dilution. For founders in capital-intensive sectors, EIB loans have become a realistic part of the funding mix, as they were in sennder's EUR 228 million package earlier today, in a very different sector.

Gene therapies for brain diseases are expensive to develop. VectorY's next value point is the PIONEER-ALS readout. For other recent European biotech rounds, see our coverage of SRTD Biotech's EUR 31.5 million seed and Neobe's engineered bacteria for solid tumours.

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