Dutch clinical-stage biotechnology company Leyden Labs has secured €20 million in venture debt financing from the European Investment Bank (EIB) to advance development of its broadly-protective antibodies designed to defend against seasonal and pandemic viral infections. The company's lead program, PanFlu, is a pan-influenza nasal spray currently in clinical development that has the potential to provide first-in-class influenza protection and meaningfully reduce the burden of influenza infection, including protection against Avian Flu (H5).
The financing agreement is supported under the European Commission's InvestEU programme and specifically falls under "HERA Invest," a €110 million initiative from the European Health Union designed to address biodefense, pandemic readiness and antimicrobial resistance in Europe.
Novel Mucosal Protection Approach
Leyden Labs' product candidates represent a departure from traditional vaccination strategies by delivering broadly protective antibodies directly to the respiratory mucosa through nasal sprays. The company's solutions are designed to work at the earliest moment, before viruses even reach systemic circulation, addressing a potential limitation of systemically administered vaccines.
"Systemically administered vaccines primarily generate systemic protection against viruses, however, this may be a limitation that contributes to suboptimal efficacy," according to the company. "Airborne viruses, including influenza, do not directly enter systemic circulation, but rather, they enter the body through the nose and mouth."
The company's antibodies aim to protect against full viral families, maintaining effectiveness even when viruses mutate and evolve. This intranasal strategy also has the potential to benefit people with weakened immune systems because it does not rely on the person's ability to mount an immune response to be protective.
Clinical Development and Regulatory Support
Leyden Labs' lead product candidate CR9114 for the PanFlu program is a human monoclonal antibody that has demonstrated protection against influenza in preclinical models. The company holds an exclusive license from Janssen Pharmaceuticals Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, to develop and commercialize CR9114.
"We are thrilled with this endorsement of our approach and support from HERA and the European Investment Bank," said Koenraad Wiedhaup, co-founder and CEO of Leyden Labs. "This will accelerate our efforts to provide broad, universal protection against current and future viral outbreaks. We are grateful that HERA and the EIB understand the urgency and significance of investing in initiatives to ensure Europe is prepared for pandemic viruses. This concern is greater than ever given the increasing threat of an avian influenza outbreak."
European Pandemic Preparedness Initiative
The funding represents a significant investment in European pandemic preparedness capabilities. EIB Vice President Robert de Groot emphasized the strategic importance of the investment, stating, "The COVID-19 pandemic taught us multiple lessons, including that we should strengthen the EU's preparedness and autonomy in key areas like bio sciences. With the support of the European Commission, the EIB backs highly innovative EU companies like Leyden Labs with venture debt, enabling them to grow and thrive in Europe."
Hadja Lahbib, Commissioner for Equality, Preparedness and Crisis Management, added: "Respiratory viruses are common and affect us all, especially the most medically vulnerable. Today's agreement reaffirms our commitment to invest in innovation to strengthen preparedness and protection against respiratory viruses. HERA Invest is a prime example of Europe at the forefront of medical advancements in response to serious threats to health."
Broader Platform Potential
Beyond influenza, Leyden Labs is leveraging its Mucosal Protection Platform to develop a portfolio of candidates aimed at providing protection against influenza, coronaviruses, and other respiratory viruses through a new class of broadly protective nasal sprays. The company's novel approach has the potential to transform how the healthcare ecosystem approaches viral prophylaxis, providing innovative solutions for both seasonal outbreaks and pandemic emergencies.
Founded in 2020 and based in the Netherlands, Leyden Labs is supported by a strong syndicate of investors including GV (formerly Google Ventures), Casdin Capital, F-Prime Capital, ClavystBio, Polaris Partners, Qiming Venture Partners, Invus, SoftBank Vision Fund 2, Byers Capital, and Bluebird Ventures.
The €20 million proceeds will support further development of Leyden Labs' novel, non-vaccine approach to fighting respiratory viruses, contributing to European pandemic preparedness efforts as coordinated by HERA, the European Commission's Health Emergency Preparedness and Response Authority.
