EXO Biologics Secures a Total of €8.7 Million in Financing

Liege, Belgium 05/02/2021 – Exo Biologics, a Belgian biotech companym, announces that it has successfully obtained EUR 5 million through a convertible loan and that it has received grants amounting up to 3.7 EUR million from the Walloon Region (Department of Economy, Employment and Research).

The funding allows to accelerate its diversified portfolio of innovative biopharmaceutical drugs based on the use of Extracellular Vesicles and exosomes and will be used to commence clinical trials, to advance its pre-clinical programs, enhance its proprietary technology platform and develop a GMP approved production unit at Montlegia Park (Liège).

The company’s leading drug candidates are focused on Bronchopulmonary dysplasia (BPD), a severe disease of the respiratory system which occurs in app. 30% of preterm born children below 30 weeks of gestation, and perianal fistulas for patients suffering from Crohn’s disease. There are currently no effective treatments available for either. EXO Biologics is also investigating the use of Extracellular Vesicles for treating ARDS (Acute respiratory distress syndrome) in patients with COVID-19 with the financial support of the Walloon Region.
Noshaq and Scorpiaux (the private holding of Mr. Bart Versluys) have subscribed to the convertible loan as lead participants, together with the current shareholders.

Mr. Marcin Jurga (CSO) quoted ‘this investment will accelerate our breakthrough technology focusing on novel and exciting therapeutic approaches for unmet medical needs. This product will be the next big discovery in pharma space on both diagnostic and therapeutic level".

Prof Jean Michael Foidart (co-founder) mentioned "'The investment will allow us to unlock and develop several target programs towards the clinical development in the next few years. We are very grateful for the support of the Walloon region and our investors who are strong believers in the potential of this exosome-based therapy. Together with the commitment and financial support of DGO6, the company had created a solid financial foundation for future growth”

About EXO Biologics

EXO Biologics is a Belgian biotech company committed to developing biopharmaceuticals using Extracellular Vesicles (EVs) to treat rare diseases with unmet medical needs. Partnering with leading academic researchers, EXO Biologics aims to set the stage for future nanomedicines.  The company’s development strategy focuses on novel drug candidates for therapeutic applications in Respiratory Diseases, Inflammatory Bowel Diseases, Neurology, and Oncology.

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EXO Biologics mission is to provide affordable and accessible exosomes therapy to patients with unmet medical needs.

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