Angelini Ventures has invested in VectorY Therapeutics (“VectorY”), joining a €74.5 million ($83.5 million) financing. We invested alongside the European Investment Bank (EIB) through our co-investment facility, and join the other new investor, Invest-NL, and the returning investors: Forbion, EQT Life Sciences, MRL Ventures, Insight Partners, BioGeneration Ventures (BGV), Eli Lilly and Company and the ALS Investment Fund. VectorY is headquartered in Amsterdam.

The proceeds will support the lead program VTx-002 through key clinical milestones, including the final readout of the PIONEER-ALS Phase 1/2 study. They will also fund the broader pipeline, including VTx-003 for Huntington’s disease.

Therapeutic Area

VectorY works in neurodegenerative diseases, a group of conditions in which nerve cells progressively lose function and die. Its lead program focuses on amyotrophic lateral sclerosis (ALS), a progressive disease of the motor neurons, the nerve cells that control movement, breathing and speech. Loss of these neurons results in paralysis and ultimately death.

A protein called TDP-43 clumps abnormally inside the nerve cells of up to 97% of people with ALS, and this is what VectorY targets with an antibody. VectorY also has a program aimed at TDP-43 in frontotemporal dementia (FTD), and further programs in Huntington’s disease and Alzheimer’s disease.

Standard of Care

There is no cure for ALS, and most people survive only a few years after diagnosis. Care today focuses on managing symptoms and quality of life. Two medicines, riluzole and edaravone, are used to slow progression, but their effect is modest, usually measured in months. Tofersen is approved only for the small group of patients with mutations in the SOD1 gene. For the large majority of people living with ALS, there are no therapies that act on the underlying biology of the disease, so the need for new options remains high.

Why VectorY for Angelini Ventures?

A defined target. VTx-002 is a first-in-class vectorized antibody. An AAV vector, a delivery vehicle based on a modified virus, carries into nerve cells the instructions to make an antibody, so that the cells produce it themselves within the central nervous system. The antibody is designed to recognise the aggregated form of TDP-43, acting where the pathology is. VTx-002 is an investigational therapy and has not been approved by any regulatory authority.

Progress we can measure. PIONEER-ALS is a global, multicenter, open label, dose-escalation Phase 1/2 study evaluating two dose levels of VTx-002 in adults with ALS at sites in the U.S., Europe and the U.K. In September 2026, the company expanded it from 12 to 36 participants. The study tracks neurofilament light chain (NfL), a protein that rises when nerve cells are damaged, and TDP-43 pathway biomarkers, alongside clinical measures such as ALSFRS-R, slow vital capacity and survival. For a data-driven investor, a program that makes its progress observable early is a strong signal.

Manufacturing and platform. In gene therapy, the ability to produce vectors consistently is as important as the science. VectorY develops its own manufacturing platform for these delivery vehicles, and the same approach underpins its programs in Huntington’s disease (VTx-003), frontotemporal dementia (VTx-004) and Alzheimer’s disease (VTx-005).

The right partners. We invested alongside the EIB through our co-investment facility, and join a group of experienced investors. Regina Hodits will represent Angelini Ventures as board observer, and we look forward to a long-term partnership.