Tagworks Pharmaceuticals announces $64 Million in Series A financing co-led by Gilde Healthcare - Gilde Healthcare

Tagworks Pharmaceuticals announces $64 Million in Series A financing co-led by Gilde Healthcare

June 22, 2023
Utrecht (The Netherlands)

Tagworks Pharmaceuticals BV (“Tagworks”), the Dutch pioneer of Click-to-Release chemistry designed to deliver more effective and safer systemic therapies, today announced a $64 million Series A financing led by Gilde Healthcare and Ysios Capital and with participation from international investors Novartis Venture Fund, New Enterprise Associates (NEA), and Lightstone Ventures. They join existing investors including Meneldor and Oost NL. The financing will support the advancement of TGW101, Tagworks’ lead click-cleavable ADC program, and the company’s proprietary Click-to-Release platform.

Tagworks’ platform enables controlled drug release induced by an in vivo click reaction with a trigger molecule. When applied to ADCs the triggered on-target release expands the scope to non-internalizing targets, affording a high bystander effect for the killing of tumors with heterogenous target expression. The platform also enables the on-target activation of immunomodulators, and the off-target deactivation of radiopharmaceuticals, enhancing their safety and therapeutic index.

The company’s lead program, TGW101, is a click-cleavable ADC targeting tumor-associated glycoprotein 72 (TAG72), a clinically validated non-internalizing target widely expressed in solid tumors. TGW101 is designed to enable targeted and controlled drug release and activation in the tumor microenvironment, thus facilitating the killing of tumors with heterogenous target expression, which are difficult to treat with current therapies. The proceeds of the financing will support Tagworks in bringing this program towards initial clinical proof-of-concept, and in advancing the company’s broader pipeline, currently focused on oncology.

Tagworks owns a broad intellectual property estate on in vivo Click-Conjugation and Click-to-Release technology and is initially leveraging its approach to expand the number of ADC targets. In addition to TGW101, the pipeline includes discovery phase programs in ADCs and radiopharmaceuticals. Tagworks’ technology is compatible with small molecules, peptides, and larger biomolecules, such as antibodies and fragments, and covers a wide range of toxin and immunomodulator classes.

About Tagworks Pharmaceuticals
Tagworks Pharmaceuticals, pioneer of the Click-to-Release approach, is a precision therapy company, leveraging its technology platform, which is protected by a broad patent estate, to develop a new standard of care for patients suffering from severe diseases including cancer. With operations in the Netherlands and the U.S., Tagworks is developing a pipeline of click-cleavable therapies. Its lead program, TGW101, is an antibody-drug conjugate (ADC) targeting TAG72, a clinically-validated, pan-carcinoma target that so far has remained out of reach of current ADC therapies. Tagworks’ technology enables on-target activation of ADCs and immunomodulators, as well as off-target deactivation of radioimmunotherapies to enhance their therapeutic index. For more information, visit us at https://www.tagworkspharma.com/.

About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor managing over €2.5 billion across two fund strategies: Venture&Growth and Private Equity. The Venture&Growth fund of Gilde Healthcare invests in fast growing companies active in digital health, medtech and therapeutics, based in Europe and North America. The Private Equity fund of Gilde Healthcare participates in profitable lower mid-market healthcare companies based in North-Western Europe. For more information, visit the company’s website at www.gildehealthcare.com.

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