# Ikarovec

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

- Industry: Biotechnology
- Headquarters: Norwich, UK
- Website: www.ikarovec.com
- Total disclosed funding: $9.8M
- Latest round: Seed (Oct 8, 2024)
- Investors on record: 4

## About

Ikarovec Limited is an innovative biotechnology company focused on developing gene therapy solutions aimed at treating common eye diseases, particularly through advanced gene transfer techniques.Founded in 2019 in England, UK, Ikarovec Limited specializes in gene therapy for ocular conditions. The company has successfully raised GBP 5 million in Seed funding led by LifeArc and Parkwalk Advisors, with participation from Future Planet Capital. Ikarovec has two deals recorded, with the most recent deal occurring on October 8, 2024. The current valuation stands at GBP 10.453 mn.Ikarovec specializes in innovative gene therapy solutions for the treatment of common eye diseases, operating in the pre-clinical phase of drug development. The company’s core product offerings focus on advanced gene therapy treatments that aim to restore sight and prevent blindness by targeting multiple disease pathways simultaneously. This is achieved through a technique known as gene transfer, which introduces therapeutic DNA into target cells in the eye, enabling them to produce specific proteins that combat various ocular conditions. Ikarovec's research programs are primarily aimed at age-related macular degeneration (AMD) and geographic atrophy (GA), among other conditions. The company primarily serves ophthalmology clinics and healthcare providers across the United States and Europe, providing a novel and effective alternative to traditional therapies that typically require frequent injections or daily administration.Ikarovec's revenue model is structured around strategic partnerships and collaborations with biopharmaceutical companies, allowing for shared resources and expertise in advancing their gene therapy programs. Transactions are primarily B2B, with financial arrangements likely involving milestone payments tied to development progress and potential royalties upon commercialization of the therapies. The company has successfully raised GBP 8 million through an extension of its Seed funding round to propel its lead sight loss program towards clinical trials. Revenue generation will be closely linked to the progression of their gene therapy treatments through various stages of development, with a focus on securing partnerships for distribution and commercialization in targeted markets. The flagship programs are set to capitalize on the growing demand for innovative treatments in the ophthalmology sector, potentially enhancing revenue streams as they move closer to clinical application.Following the recent Seed funding of GBP 5 million secured in October 2024, Ikarovec Limited will focus on advancing preclinical research for IKC159V, a novel bicistronic gene therapy. This therapy aims to deliver two clinically significant proteins with a single injection, targeting inflammation and oxidative stress associated with geographic atrophy (GA). The funding will support the ongoing development of this therapy, with plans to expand its reach into additional markets in the United States and Europe by 2025.

## Funding rounds

- Seed, Oct 8, 2024, $6.5M — Parkwalk Advisors, Future Planet Capital, LifeArc
- Seed, Feb 5, 2020, $3.2M — Parkwalk Advisors, UK Innovation & Science Seed Fund, LifeArc

## Investors

- Parkwalk Advisors (https://capitalatlas.ai/funds/parkwalk-advisors) — Seed
- UK Innovation & Science Seed Fund (https://capitalatlas.ai/funds/uk-innovation-science-seed-fund) — Seed
- LifeArc (https://capitalatlas.ai/funds/lifearc) — Seed
- Future Planet Capital (https://capitalatlas.ai/funds/future-planet-capital) — Seed