Merz Therapeutics Takes a Bet on Vensica Therapeutics
Posted on 02/13/2022
Vensica Therapeutics is a urology therapeutics and clinical stage biopharmaceutical company. Vensica Therapeutics has closed a $19 million investment round. Vensica executed a strategic collaboration agreement with Merz Therapeutics in 2021 and the Merz Group is participating in Vensica’s financing with up to $3 million, bringing the total round to up to $19 million. The round was led by Israel Biotech Fund (IBF) with the participation of Laborie, Lew Pell, Agriline (a trust of which Vincent Tchenguiz is a discretionary beneficiary), and The Trendlines Group.
Merz Therapeutics GmbH, a business of the Merz Group, is a player in the field of neurotoxins. Vensica has exclusively licensed Merz’s botulinum neurotoxin A (Xeomin) for needle-free use in urological procedures. Merz Group has the businesses Merz Aesthetics, Merz Therapeutics, Merz Consumer Care, Merz Real Estate and Financial Investments.
Vensica is unlocking the potential of neurotoxins in urology by developing minimally invasive solutions using the unique properties of therapeutic ultrasound to deliver botulinum toxin A to the bladder. Vensica’s needle-free drug delivery platform is intended for the treatment of urological indications including overactive bladder, neurogenic bladder, and interstitial cystitis. The current gold standard treatment requires needle injections of the neurotoxin into the bladder wall. In 2021, Vensica signed a strategic license and collaboration agreement with Merz Therapeutics for its botulinum neurotoxin A (XEOMIN) for needle-free use in urological procedures.
Vensica Therapeutics was founded in 2015 by Avner Geva, (Yale, B.Sc, Technion, M.Sc) and is led and backed by medical and therapeutics leaders, including Chairman M.D., Ph.D, Nissim Darvish, Michael Ingber, M.D., board member appointed by IBF, Lew Pell, Laborie, Merz Pharmaceuticals, The Trendlines Group (SGX: 42T) (OTCQX: TRNLY), and The Israel Innovation Authority.
Israel Biotech Fund
The Israel Biotech Fund seeks high value returns by identifying and maximizing the success of therapeutic assets of Israeli-based biotech companies. Based in Rehovot, Israel’s main Biotech hub, they invest exclusively in Biotech companies developing drugs. David Sidransky is the Co-Founder and Managing Partner of Israel Biotech Fund. Sidransky was Vice Chairman of ImClone Systems until its acquisition by Eli Lilly for US$ 6.5 billion in 2008. He founded several biotechnology companies, including Oncormed Pharmaceuticals, (NASDAQ: ONCM), a genetic testing company that was sold to Gene Logic in 1998, and Response Genetics (NASDAQ: RGDX), a developer of markers for cancer therapy. Ido Zairi is a Co-Founder and Managing Partner of Israel Biotech Fund. Mr. Zairi is a founder and Managing Director of the Mendham Investment Group (MIG). Yuval Cabilly is a Co-Founder and Managing Partner of Israel Biotech Fund.
