- Tagworks Pharmaceuticals raises $65 million in a Series A financing round led by Ysios Capital and Gilde Healthcare, with participation from Novartis Venture Fund, New Enterprise Associates (NEA), and Lightstone Ventures.
- The funding will be utilized to advance Tagworks’ lead program, TGW101, a click-cleavable antibody-drug conjugate (ADC) targeting TAG72, and expand the company’s pipeline.
- Tagworks’ Click-to-Release platform enables precise, on-target activation of ADCs, immunomodulators, and off-target deactivation of radiopharmaceuticals, enhancing safety and therapeutic efficacy.
Tagworks Pharmaceuticals BV (“Tagworks”), the pioneer of Click-to-Release chemistry for improved systemic therapies, has secured $65 million in a Series A financing round. Ysios Capital and Gilde Healthcare led the funding, joined by Novartis Venture Fund, New Enterprise Associates (NEA), Lightstone Ventures, Meneldor, and Oost NL. The investment will support the advancement of Tagworks’ lead program, TGW101, and the expansion of its proprietary Click-to-Release platform.
Click-to-Release Platform for Controlled Drug Release
Tagworks’ Click-to-Release platform facilitates controlled drug release through an in vivo click reaction triggered by a specific molecule. This innovative approach enables on-target activation of antibody-drug conjugates (ADCs) and immunomodulators, as well as off-target deactivation of radiopharmaceuticals, thereby improving safety and therapeutic efficacy.
The platform allows ADCs to release their payloads in the tumor microenvironment, expanding their applicability beyond internalizing targets and enabling the killing of heterogeneous tumors with varied target expression. Tagworks’ technology also offers precise on-target activation of immunomodulators and off-target deactivation of radiopharmaceuticals, enhancing safety and widening their therapeutic index.
Advancing TGW101 and Expanding Pipeline
The financing will primarily support the development of TGW101, Tagworks’ lead click-cleavable ADC program. TGW101 targets tumor-associated glycoprotein 72 (TAG72), a clinically validated non-internalizing target widely expressed in solid tumors. By enabling controlled drug release and activation within the tumor microenvironment, TGW101 aims to effectively kill tumors with heterogeneous target expression, a challenge faced by current therapies. The proceeds will also contribute to the expansion of Tagworks’ pipeline, which focuses on oncology.
Broad Applications and Intellectual Property
Tagworks possesses a broad intellectual property portfolio for in vivo Click-Conjugation and Click-to-Release technology. The platform is compatible with small molecules, peptides, antibodies, and larger biomolecules, enabling the development of a wide range of toxin and immunomodulator classes. Beyond TGW101, Tagworks is exploring additional programs in ADCs and radiopharmaceuticals at the discovery phase.
Expert Leadership and Investor Support
Tagworks has appointed Chris Martin, DPhil, former CEO of ADC Therapeutics, as the Chairman of the Board, and Jay Feingold, M.D., Ph.D., former Chief Medical Officer of Pyxis Oncology and ADC Therapeutics, as Chief Medical Officer. The company has attracted a strong international syndicate of investors, including Ysios Capital, Gilde Healthcare, Novartis Venture Fund, NEA, and Lightstone Ventures. The collective expertise and financial support will accelerate Tagworks’ development efforts and expansion into transformative cancer therapies.
About Tagworks Pharmaceuticals
Tagworks Pharmaceuticals, the innovator of Click-to-Release chemistry, is a precision therapy company focused on developing a new standard of care for severe diseases, including cancer. Leveraging its protected technology platform, Tagworks aims to create click-cleavable therapies that offer enhanced efficacy and safety. The company’s lead program, TGW101, is an ADC targeting TAG72, a pan-carcinoma target with high expression in solid tumors. By enabling controlled drug release and activation, Tagworks’ technology has the potential to transform cancer treatments. For more information, visit www.tagworkspharma.com.
About Ysios Capital
Ysios Capital is a leading Spanish venture capital firm dedicated to financing highly innovative life science companies at various stages of development. With a focus on indications with high unmet need, Ysios Capital supports life-changing treatments for patients. The firm’s diverse international team is driven by a passion for science and a desire to transform capital into medical breakthroughs. Ysios Capital manages over €400 million in assets through its three funds. For more information, please visit www.ysioscapital.com.
About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor managing over €2.5 billion across two fund strategies: Venture&Growth and Private Equity. Gilde Healthcare’s Venture&Growth fund invests in fast-growing companies in digital health, medtech, and therapeutics across Europe and North America. The firm’s Private Equity fund focuses on profitable lower mid-market healthcare companies in Northwestern Europe. Gilde Healthcare recognizes the potential of Tagworks’ cutting-edge technology platform in developing first-class therapeutics and welcomes the opportunity to collaborate in advancing treatments for cancer and other diseases. For more information, visit www.gildehealthcare.com.
About Novartis Venture Fund
Novartis Venture Fund is a corporate life science venture fund driven by the goal of fostering innovation, generating significant patient benefits, and achieving superior returns. The fund invests in innovative life science companies at various stages of development. For more information, visit www.nvfund.com.
New Enterprise Associates, Inc. (NEA) is a global venture capital firm that supports entrepreneurs in building transformational businesses across stages, sectors, and geographies. With over $25 billion in assets under management, NEA invests in technology and healthcare companies from seed stage to IPO. NEA’s extensive track record includes over 270 portfolio company IPOs and more than 450 mergers and acquisitions. For more information, visit [www.nea.com](www.nea.com**About Lightstone Ventures**
Lightstone Ventures is a global venture capital firm that invests in biotech and medtech companies focused on pioneering ideas that have the potential to transform patient outcomes. Founded in 2012, Lightstone Ventures provides visionary entrepreneurs with the necessary resources and operational guidance to bring innovative therapeutics and technologies to patients in need. With a history of successful deals resulting in acquisitions and initial public offerings, Lightstone Ventures is committed to making a meaningful impact on healthcare. The firm operates offices in Boston, Massachusetts; Menlo Park, California; and Dublin, Ireland. For more information, please visit www.lightstonevc.com.