An EU biotech looks to rewrite the ug­ly his­to­ry of phos­phatases, and it's tak­ing $24M in fund­ing to get off the ground

Long a lame duck in drug de­vel­op­ment, phos­phatase en­zymes are gain­ing some re­newed in­ter­est af­ter the suc­cess of a suite of Big Phar­mas in hit­ting tar­gets pre­vi­ous­ly thought un­drug­gable. Now, an EU biotech with some se­ri­ous sci­en­tif­ic back­ers is look­ing to bust the doors on phos­phatases wide open.

Lean­ing on sci­en­tif­ic know-how from two “Mr. Phos­phatases” in the EU and US, Dutch biotech Ana­vo Ther­a­peu­tics launched Thurs­day with $24 mil­lion in seed fund­ing and the mis­sion to de­vel­op mod­u­la­tors to rewrite the en­zyme class’ ug­ly his­to­ry of fail­ure.

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