Seed Fund supports move towards Clinical Development

SeaBeLife, a biotech company developing drug candidates intended to block cell necrosis has announced €1.2M ($1.28M) in additional seed funding from the iXLife fund and business angel networks. This will help to finance the regulatory development of its drug candidates, notably for acute liver disease and eye disorders and leverage its technology targeting two regulated cell death pathways.

It will also enables the addition of several high-level specialists to set up clinical trials. The company expects to launch a Phase I trial in severe hepatitis soon. It is also working to strengthen its strategic partnerships, especially with pharmaceutical companies active in eye disorders and to optimise its drug candidates with the aim of addressing neurodegenerative diseases by 2025.

This latest round sees Professor Kinet, chairman of iXLife, join SeaBeLife’s strategic committee. The company has raised €1.6M ($1.74M) in seed funding from business angels since 2020.

“We are delighted to welcome Professor Kinet, representing iXLife, to our 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,” said Morgane Rousselot, CEO and co-founder of SeaBeLife. “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.

“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,” said Professor Kinet, chairman and director of the iXLife fund.

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