French biotech firm SeaBeLife has raised €1.2 million in additional seed funding to fund the further development of its drug candidates for acute liver disease and eye disorders as well as allow it to expand its team. The company intends to hire ‘several high-level specialists’ as it looks to launch a trial in severe hepatitis next year.
SeaBeLife has hopes of addressing neurodegenerative diseases by 2025, its drug candidates are intended to block cell necrosis. Necrosis is the pattern of cell death occurring after injury. One form of necrosis is necroptosis which results in inflammation damaging surrounding tissue which can also affect the prognosis of the associated disease. 'SeaBeLife’s molecules have a unique property that make them particularly effective: they also combat another specific mode of regulated cell death, ferroptosis'.
The Seed round extension was led by the iXLife fund and existing angel investor networks including Breizh Angels, Angels Santé, WeLike and Badge. Professor Jean-Pierre Kinet, chairman of iXLife, will also join SeaBeLife’s strategic committee.
“As a renowned physician with unique experience in building biotech businesses in Europe and the US, Professor Kinet’s support and those of our historical investors, as well as this intermediate funding, will give us the means to use our unique cell preservation and protection technologies in serious liver and eye disorders. In time we will extend them to brain pathologies,” says Morgane Rousselot, CEO and co-founder of SeaBeLife.
“iXLife is delighted to become a shareholder in SeaBeLife and to support its innovative strategy of dual targeting of necroptosis and ferroptosis. We are convinced that this one-of-a-kind approach has the potential to protect cells affected by certain disorders, including acute liver disease. Clinical development in this indication is due to kick off in 2024,” says Kinet.
“With this vision, we are actively preparing for Series A fundraising from venture capital funds, institutional funds and family offices. We aim to continue developing our technology in the treatment of acute liver failure (ALF), serious ophthalmologic disorders and neurodegenerative diseases," adds Rousselot.
Lead image: Morgane Rousselot, CEO and co-founder of SeaBeLife. Credit: David Levron.