Vaderis Raises $152M for Rare Disease Drug Development

Vaderis Therapeutics has successfully closed a substantial $152 million Series B financing round, a significant capital infusion aimed at advancing its novel treatment for hereditary hemorrhagic telangiectasia (HHT). The investment underscores strong market confidence in the biotech's potential to address a critical unmet need in rare disease therapeutics.

The significant funding was co-led by prominent investment firms Goldman Sachs Alternatives and TCGX. The round saw robust participation from a syndicate of specialized healthcare investors, including Omega Funds, Perceptive Advisors, Kalehua Capital, and existing stakeholders Medicxi and Droia. Notably, EQT Life Sciences contributed $17.5 million through one of its managed funds, signaling a strategic commitment to Vaderis's development pipeline.

Proceeds from this Series B round are specifically allocated to propel Vaderis's lead program, engasertib, through pivotal clinical development stages, with the ultimate goal of achieving regulatory approval. Engasertib is being developed as the first targeted therapy for hereditary hemorrhagic telangiectasia, a genetic disorder affecting blood vessel integrity. This condition, impacting approximately 1 in 3,800 individuals, currently lacks any approved therapeutic interventions, leading to severe health complications for patients.

The newly acquired capital will be instrumental in launching the global Phase 3 HEROIC trial for engasertib. This crucial trial follows promising proof-of-concept and long-term data, previously published in the prestigious New England Journal of Medicine, which demonstrated meaningful and lasting improvements in patient outcomes. The initiation of this Phase 3 study marks a pivotal moment for HHT patients, representing the first time a molecule specifically designed for the disease will undergo such rigorous evaluation.

Christoph Broja, a Partner at EQT Life Sciences, will join the Vaderis board as an observer. He expressed strong conviction in the underlying science, stating, “Engasertib’s proof of concept data gave us real conviction in the science.” EQT Life Sciences, formed in 2022 through the integration of the established European venture investor LSP into the EQT platform, brings a wealth of experience in backing innovative healthcare companies. Under its previous banner, LSP managed over $3.5 billion and supported more than 150 companies over three decades.

Azmi Nabulsi, President and Chief Executive of Vaderis, characterized the financing and the commencement of the HEROIC trial as a “defining moment for HHT patients.” He emphasized the significance of advancing a therapy specifically engineered for their condition, highlighting the potential to transform the treatment paradigm for this underserved patient population. The successful closure of this round positions Vaderis to make significant strides in addressing a rare disease with a profound impact on patient lives.