# Erydel SpA

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/erydel

- Industry: Biotechnology
- Headquarters: Italy
- Website: www.erydel.com
- Total disclosed funding: $39M
- Latest round: Series B (May 11, 2015)
- Investors on record: 3

## About

Erydel SpA, based in Bresso, Italy, is a biotechnology firm focused on innovative treatments for rare diseases, utilizing advanced drug delivery technologies to address unmet medical needs in pediatric populations.Founded in 2007, Erydel SpA specializes in biopharmaceutical solutions aimed at treating rare and complex conditions. The company has undergone strategic pivots, adapting to the evolving landscape of the biotechnology sector. Erydel operates primarily from its headquarters in Bresso, with operations that may extend to other locations. The company's CEO is Luca Benatti, who brings prior experience in biotechnology ventures. Erydel has raised a total of EUR 26.50 mn across several funding rounds, with the latest round being Venture Debt, amounting to EUR 30.00 mn and concluded on July 21, 2023. The European Investment Bank participated in this funding round.Erydel's primary product is eDSP, a treatment for patients with Ataxia-Telangiectasia (A-T). This product utilizes the proprietary Autologous Intracellular Drug Encapsulation (AIDE) technology platform, which encapsulates dexamethasone sodium phosphate within the patient's red blood cells. The goal of this approach is to improve drug delivery while reducing adverse effects. Erydel is actively enrolling participants in its global Phase 3 NEAT clinical trial, which targets healthcare providers and institutions in the United States, Europe, and certain regions in Asia, focusing on the high unmet medical needs of pediatric patients diagnosed with A-T.In the most recent fiscal year of 2021, Erydel reported no revenue. In 2023, the company experienced an EBITDA loss of EUR 12,865,646.1, indicating the financial challenges it faces as it progresses in clinical development and aims for future commercialization of its products.Erydel's strategy for future growth includes the ongoing development and commercialization of its eDSP product. The company aims to enter new markets, specifically expanding its reach in the United States and Europe post-regulatory approval. The recent funding from the Venture Debt round will facilitate these initiatives, particularly in supporting clinical trials and operational costs. Additionally, a recent agreement in July 2023 for an all-stock acquisition by Quince Therapeutics, expected to close in Q3 2023, will enhance Erydel's resources and market position, allowing stockholders to receive USD 485 mn contingent on developmental milestones.

## Funding rounds

- Series B, May 11, 2015, $16M — Innogest, Focus Impresa, Genextra
- Series B, Jul 1, 2013, $19M — Innogest, Focus Impresa, Genextra
- Series A, Dec 1, 2008, $3.4M — Innogest, Focus Impresa

## Investors

- Innogest (https://capitalatlas.ai/funds/innogest) — Series A, Series B
- Focus Impresa — Series A, Series B
- Genextra (https://capitalatlas.ai/funds/genextra) — Series B