Breye Therapeutics, a Copenhagen, Denmark-based clinical-stage biopharmaceutical company, raised €4M in Seed funding.
The round was led by Novo Holdings and Sound Bioventures. In conjunction with the financing Jørgen Søberg Petersen, Partner at Novo Holdings and Johan Kördel, Managing Partner at Sound Bioventures will join the Board of Directors, alongside independent Chair Jim Van heusden and CEO Ulrik Mouritzen. Pre-seed financial support includes funding from the BioInnovation Institute (BII), the Danish Growth Foundation (Vækstfonden) and the Danish Innovation Foundation (Innovationsfonden).
The company intends to use the funds to expand its team and its pipeline across a broader range of ophthalmologic diseases.
Led by CEO Ulrik Mouritzen, Breye Therapeutics is a clinical stage biopharmaceutical company pursuing a mission to develop novel oral therapies for the treatment of retinal vascular diseases. The company is developing de-risked, novel small molecules suited for oral administration which have a strong scientific rationale for treating diseases such as diabetic retinopathy (DR) and age-related macular degeneration (AMD).
Breye is part of Novo Seeds’ company creation efforts where the Novo Holdings’ early-stage investment team works with peers in the Nordic region to help build new biotech companies based on new science and industry spinouts.