Naarden, The Netherlands, 6 October 2021 – Forbion, a leading European life sciences venture capital firm, today notes that portfolio company Covicept Therapeutics, Inc. has initiated a double-blind, placebo-controlled Phase 2 trial of its antiviral drug candidate PSJ-539 and begun enrolling patients with mild-to-moderate COVID-19. Covicept is a California-based biotech company funded and operationally supported by Forbion.
PJS-539 is a potent, once daily, oral pill that inhibits attachment, infection and replication of SARS-CoV-2 and other RNA viruses. It has the potential to become a best-in-class small molecule for the treatment of COVID-19 patients and also has potential as a broad-spectrum antiviral drug targeting RNA viruses.
The multi-center, randomized, double-blind, placebo-controlled Phase 2 clinical trial is designed to evaluate safety and efficacy of PJS-539 in patients recently diagnosed with COVID-19. The trial in up to 150 patients is being conducted in Brazil, led by Bruno M Tomazini, MD of the Hospital do Coração São Paulo. Results from the trial are anticipated by the end of the year.
Sander van Deventer, Covicept Board member and Operating Partner at Forbion, commented: “Covicept is a great example of how academic researchers, entrepreneurs, and investors can join forces and, in a very agile way, bring new therapeutic options to patients. PSJ-539 has potential as a prophylactic and to treat early, moderate and severe disease, to reduce viral load, to minimize transmission and infection, as well as to reduce the long-term effects. We are very excited by the progress the team has made in the past nine months and continue to support the company on its way to develop potential blockbuster anti-viral drugs.”
Sander Slootweg Managing Partner at Forbion added: “Forbion has played a pivotal role supporting the development of PJS-539 and in the growth of Covicept. It epitomizes our ability as a leading life sciences investor to identify a potentially high value opportunity addressing an urgent global medical need and to move fast to provide financial support and the relevant expertise to expedite development.”
The full Covicept press release can be accessed here.
ENDS
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About Forbion
Forbion is a dedicated life sciences venture capital firm with offices in The Netherlands, Germany and Singapore. Forbion invests in life sciences companies that are active in the (bio-) pharmaceutical space. Forbion manages well over EUR 1.7 billion across multiple fund strategies that cover all stages of (bio-) pharmaceutical drug development. Forbion’s current team consists of 21 life sciences investment professionals that have built an impressive performance track record since the late nineties with successful investments in over 70 companies. The firm is a signatory to the United Nations Principles for Responsible Investment. Besides financial objectives, Forbion selects investments that will positively affect the health and well-being of patients. Its investors include the EIF, through its European Recovery Programme (ERP), LfA, Dutch Venture Initiative (DVI), AMUF and EFSI facilities and KfW Capital through the Programme, “ERP – Venture Capital Fonds investments”. Forbion operates a joint venture with BGV, the manager of seed and early-stage funds, especially focused on Benelux and Germany.
For more information, please visit: www.forbion.com