What Imcyse does

Imcyse is a clinical-stage biopharmaceutical company founded in 2010 as a spin-off from KU Leuven and headquartered in Liège (Angleur), Belgium. The company is developing a new class of active specific immunotherapies based on its proprietary Imotope™ platform, which uses synthetic peptides modified with thioredoxin motifs to induce cytolytic CD4+ T cells that selectively eliminate disease-causing immune cells while preserving normal immune function. Its pipeline targets severe chronic autoimmune diseases across five indications: two clinical-stage programs (IMCY-0098 in Phase 2 for Type 1 Diabetes, and IMCY-0141 in Phase 1/2 for Multiple Sclerosis) and three preclinical programs (Neuromyelitis Optica, Rheumatoid Arthritis in partnership with Pfizer, and Celiac Disease). The platform's mechanism of action—selective elimination of autoreactive immune cells rather than broad immunosuppression—differentiates Imotope™ from conventional disease-modifying therapies that carry significant side-effect burdens.

Imcyse operates as a pre-commercial biotech with no product revenue. Its revenue model relies on upfront payments, milestone payments, and royalties from pharmaceutical licensing agreements (most notably the Pfizer RA deal worth up to $180M in milestones plus tiered royalties), supplemented by non-dilutive research grants from the Walloon Region and European Union framework programs, and equity financing from venture capital. The company's go-to-market approach is enterprise-focused, advancing assets through in-house development and strategic alliances with major pharmaceutical partners; clinical trials are conducted across Europe, US, and Australia via academic consortium partnerships such as INNODIA. Imcyse has raised approximately €49.3M in equity across two Series B rounds (€28M in June 2019 led by LSP, and a €21.3M extension in February 2021 with Pfizer joining as new investor), with a broad investor base including LSP, Noshaq, SRIW, SFPI, Pfizer, Biogenosis, Epimède, and KU Leuven. The company employs 11-50 staff and is led by CEO Denis Bedoret (appointed September 2020), CFO Gene Mack (appointed November 2021), and Chairman Thomas Taapken.

The company's customer base is twofold: (1) future patients across multiple autoimmune disease populations—addressing approximately 9 million T1D patients, more than 3 million MS patients, and more than 25 million RA patients globally—and (2) pharmaceutical commercialization partners, principally Pfizer. Distribution is conducted through clinical trial networks (28 sites globally for Phase 2 IMPACT trial) and partner-led commercialization rather than direct sales channels.

Name

Imcyse

Legal name

IMCYSE Sa

Website

https://imcyse.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Imcyse is a clinical-stage Belgian biopharmaceutical company developing Imotope™ immunotherapy peptides that selectively eliminate disease-causing immune cells to treat severe autoimmune diseases, with two clinical-stage programs in Type 1 Diabetes and Multiple Sclerosis.

Ownership category

akta.pro rank

Product category

Immunotherapy Pharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Therapeutic Peptides & Protein/Peptide Biologics (HLAAAAAH)

akta.pro secondary industries

Immunology & Inflammation Pharmaceuticals (HLAIAAAD), Rare Immunology, Autoimmune & Autoinflammatory Therapies (HLAIAIAE)

Keywords

• Immunotherapy platform
• Autoimmune disease therapeutics
• Synthetic peptide therapy
• Clinical-stage biopharmaceuticals
• Cytolytic CD4 T cells

Headquarters

HQ city

Angleur

HQ country

Belgium

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Pharmaceutical Licensing and Milestone Payments: Pre-commercial biotech with no current revenue. Generates income through licensing agreements with pharmaceutical partners including upfront payments, milestone payments, and royalty streams. The Pfizer partnership includes up to $180 million in milestones plus tiered royalties.
2. Research Grants and Subsidies: Non-dilutive funding from government and regional sources including Walloon Region grants and European Union framework program funding to support clinical development.
3. Equity Financing: Venture capital and Series B financing rounds to fund clinical development. €35M Series B secured June 2019; €21.3M Series B extension secured February 2021 with Pfizer joining as investor.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels1 record

Core offering

Imcyse develops disease-specific active immunotherapies built on its proprietary Imotope™ technology platform, consisting of synthetic peptides engineered from autoantigens and modified with thioredoxin motifs. These peptides induce cytolytic CD4+ T cells that specifically eliminate only the aberrant immune cells driving autoimmune disease, while leaving the rest of the immune system intact. The company is advancing a pipeline that includes clinical-stage candidates IMCY-0098 for Type 1 Diabetes and IMCY-0141 for Multiple Sclerosis, plus preclinical programs in Neuromyelitis Optica, Rheumatoid Arthritis, and Celiac Disease.

Product overview

Imcyse is a clinical-stage biopharmaceutical company pioneering the development of a new class of active and specific immunotherapies based on its proprietary Imotope™ platform. The Imotope™ technology consists of synthetic peptides encompassing a T cell epitope and an active thioredox motif that generate cytolytic CD4 T-cells. The company's portfolio includes clinical-stage products IMCY-0098 (Type 1 Diabetes) and IMCY-0141 (Multiple Sclerosis), preclinical programs in Neuromyelitis Optica (IMCY-0685) and Celiac Disease, and a partnered Rheumatoid Arthritis program with Pfizer. The platform has potential applications beyond autoimmune diseases in allergies, graft vs. host rejection, and gene therapy immunogenicity prevention.

Differentiator

Problem solved

Functional benefit

Products and services

• IMCY-0098 A proinsulin-derived Imotope™ candidate engineered to halt the progression of Type 1 Diabetes by stopping the immune system from attacking pancreatic beta-cells. Currently in Phase 2 IMPACT clinical trial with 110 patients enrolled across 28 sites in Europe, the United States, and Australia.
• IMCY-0141 A synthetic peptide based on the MOG (Myelin Oligodendrocyte Glycoprotein) autoantigen designed to halt progression of Multiple Sclerosis by stopping the immune system from attacking the central nervous system. Currently in Phase 1/2 clinical trial.
• IMCY-0685 An Imotope™ candidate designed to halt the progression of Neuromyelitis Optica Spectrum Disorder (NMOSD) by stopping the body's immune system from attacking the central nervous system. Currently in preclinical development with a €1.1M Walloon Region subsidy supporting the program over 29 months.
• Rheumatoid Arthritis Program Novel Imotope™ candidates being developed in partnership with Pfizer to potentially treat Rheumatoid Arthritis. Pfizer leads clinical development and global commercialization under a license agreement with up to $180M in milestones plus tiered royalties payable to Imcyse.
• Imotope™ Platform A proprietary technology platform based on specifically modified synthetic peptides that drive the generation of cytolytic CD4+ T cells to specifically target immune cells involved in autoimmune disease pathogenesis, adaptable across multiple autoimmune and immune-related indications.

Quantifiable outcome

• Phase 1b trial: 41 patients treated with IMCY-0098 showed excellent safety profile with no signs of disease exacerbation or major treatment-related safety issues
• +4 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered supporting and core.

• CLAIMS ConsortiumsupportingStrategic or Co-development Partner · 22 June 2023European Health Initiative project 'Clinical impact through AI-assisted MS care' funded through Innovative Health Initiative (IHI). Project aims to develop companion diagnostic platform for MS using deep-learning-based disease subtyping. 15 partners from 9 countries. Imcyse participates to translate clinical trial results into real-world practice. Total funding of almost €10M over 4 years.
• PfizercoreStrategic or Co-development Partner · 3 February 2021Research collaboration and license agreement for Imotope™ technology in Rheumatoid Arthritis. Following successful exploratory research collaboration initiated in 2017, companies entered full license agreement. Imcyse received upfront payment and Pfizer purchased equity stake. Imcyse eligible for up to $180M in milestones plus tiered royalties. Pfizer leads clinical development and commercialization. Mike Vincent, CSO of Pfizer Inflammation & Immunology, joined Imcyse Scientific Advisory Board.
• Guthy-Jackson Charitable FoundationsupportingStrategic or Co-development Partner · 28 July 2020Charitable foundation providing expertise and support for Neuromyelitis Optica Spectrum Disorder program. Foundation brings specialized knowledge in NMOSD to help guide Imcyse's clinical development for this rare disease.
• INNODIAcoreStrategic or Co-development Partner · 4 March 2020Private-public partnership against Type 1 Diabetes under IMI (Innovative Medicines Initiative) framework. Consortium of 40 academic institutions, industrial partners, foundations and SME. Imcyse joined in March 2020 to gain access to T1D patient populations and scientific exchange. INNODIA provides platform for clinical trials including the IMPACT Phase 2 study. Prof. Dr. Chantal Mathieu of KU Leuven serves as INNODIA coordinator.
• KU LeuvensupportingStrategic or Co-development Partner · 18 June 2019Original spin-off university from which Imcyse was founded in 2010-2011. KU Leuven Research and Development provided initial technology. General manager Paul Van Dun noted pride in seeing fundamental research transformed into therapies. Peter Van Dun represented on board.
• University of StrasbourgsupportingStrategic or Co-development PartnerProfessor Jérôme de Sèze, Head of Neuroimmunological Department at Strasbourg University Hospital collaborating on NMOSD program. Collaboration aims to find immunomodulatory approach for treating NMOSD.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Provention Bio: Clinical-stage biotech developing immunotherapies to prevent and treat autoimmune diseases including Type 1 Diabetes. Direct peer as both companies target disease-modifying approaches in T1D with active immunotherapeutic strategies. Provention's teplizumab (anti-CD3) received FDA approval for T1D delay, representing the most advanced competitor in Imcyse's lead indication.
• Selecta Biosciences: Clinical-stage immunology company developing antigen-specific tolerogenic immunotherapies for autoimmune diseases. Direct peer in mechanism—both companies engineer immune tolerance to specific autoantigens using synthetic peptide approaches, addressing overlapping autoimmune indications with similar disease-modifying ambitions.
• Anokion: Clinical-stage biotech developing antigen-specific immunotherapies to treat autoimmune diseases including Multiple Sclerosis and Type 1 Diabetes. Direct peer in disease-modifying autoimmune approach—both companies leverage proprietary platforms to induce immune tolerance to specific autoantigens, targeting overlapping indications.
• ActoBio Therapeutics: Clinical-stage biotech developing antigen-specific immunotherapies for autoimmune diseases, particularly Type 1 Diabetes. Belgian company (acquired by Precigen) with direct overlap in disease-modifying T1D approach using engineered bacteria to deliver antigens—competing therapeutic modality in Imcyse's lead indication.

Emerging players

• Tolerion: Early-stage biotech developing antigen-specific immunotherapies for Type 1 Diabetes and other autoimmune conditions. Emerging player with partial overlap—focuses specifically on tolerance induction in T1D, one of Imcyse's lead indications, representing a smaller-scale direct competitor.
• Parvus Therapeutics: Preclinical-stage biotech developing Navacim nanoparticle therapeutics to induce antigen-specific immune tolerance for autoimmune diseases including T1D and MS. Emerging player with overlapping mechanism—both target induction of regulatory T cells for disease modification in similar autoimmune indications, though at earlier development stage.

Broad incumbents

• Viela Bio: Clinical-stage biotech developing biologics for autoimmune and inflammatory diseases including NMOSD (approved Uplizna) and other autoimmune indications. Acquired by Horizon Therapeutics (now Amgen). Broad incumbent with overlapping autoimmune disease focus, though using monoclonal antibody approach rather than Imcyse's peptide platform.
• AbCellera: Clinical-stage antibody discovery company developing biologics for autoimmune and other diseases. Broad incumbent using monoclonal antibody approach rather than synthetic peptides, but addresses similar autoimmune indications and represents a well-capitalized public competitor with established platform technology.
• Neoleukin Therapeutics: Clinical-stage immunotherapy company developing de novo protein therapeutics for inflammatory and autoimmune diseases. Broad incumbent with overlapping autoimmune focus and immunology expertise, though using computationally designed proteins rather than Imcyse's modified peptide platform.

Others

• Evotec: German drug discovery and development company with extensive autoimmune disease pipeline and CRO/CDMO services. Adjacent participant—operates in similar therapeutic areas with various autoimmune programs and has partnered with companies developing immunotherapies, though primarily a discovery platform rather than a direct product competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/imcyse-s-a-

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds4 records

Investors10 records

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Imcyse