Gemma Frisius Fund

On July 3, 2002 the Gemma Frisius Fund II was established. Continuing the work of its predecessor Gemma Frisius Fund I, this is a venture capital fund providing seed capital and start-up capital to spin-off companies intending to commercialize knowledge and research developed at K.U.Leuven. Following the success of the first edition of the Fund, the three partners - Fortis Private Equity, KBC Investco and K.U.Leuven Research & Development - unanimously decided to extend this unique form of cooperation between the academic and financial worlds. The Gemma Frisius Fund I invested in 15 projects, for a total value of 8 million eur. The fund still has 4.4 million eur available for follow-up investment in these projects. The new fund will not invest in companies belonging to the portfolio of the first edition of the fund. The management structure of the Gemma Frisius Fund II will remain the same. The projects are analyzed in an advisory committee and presented for approval to the board of directors. Two directors from each partner are represented on the board.

Rudi Cuyvers

Partner

Paul Van Dun

Managing Director

Peter Raeymaeckers

Investment Professional

Julien Smets

Director

Past deals in Belgium

Dualyx

Series A in 2023
Dualyx engages in the discovery and development of biologicals for the treatment of autoimmune and rare diseases.

Aphea.Bio

Series B in 2021
Aphea.Bio will develop next generation ‘biopesticides’ based on natural microorganisms. These products will provide an alternative for chemical pesticides, which are currently under serious pressure. In addition, the company will develop novel ‘biostimulants’, i.e. microorganisms that stimulate crop growth, for example through promoting the uptake of nutrients from the soil.

Aphea.Bio

Series B in 2020
Aphea.Bio will develop next generation ‘biopesticides’ based on natural microorganisms. These products will provide an alternative for chemical pesticides, which are currently under serious pressure. In addition, the company will develop novel ‘biostimulants’, i.e. microorganisms that stimulate crop growth, for example through promoting the uptake of nutrients from the soil.

Runeasi

Seed Round in 2020
Runeasi is revolutionizing the measurement and interpretation of lab-grade biomechanical data. It is measuring biomechanics from just one device placed on the pelvis and is supporting a suite of use cases from walking and running to sprinting. This is enabling health and performance professionals to make better decisions when assessing and addressing sports injuries. Ultimately, this is improving the recovery, health, and well-being of recreational and elite sports(wo)men around the world.

Virovet

Series B in 2020
ViroVet NV develops virus control solutions for the livestock industry. It offers antiviral drugs for the control and treatment of respiratory diseases of cattle and swine. The company also offers modified live virus vaccines for endemic and epizootic viral livestock diseases. ViroVet NV was founded in 2015 and is based in Leuven, Belgium.

Augustine Therapeutics

Seed Round in 2019
Augustine Therapeutics N.V., founded in 2019 and based in Gent, Belgium, focuses on developing innovative medicines for patients with Charcot-Marie-Tooth disease and other neuromuscular disorders. The company is engaged in two primary drug discovery programs aimed at identifying selective HDAC6 inhibitors and GABABR1a agonists. These compounds are designed to offer neuroprotection against nerve degeneration and to promote the repair of peripheral myelin. Through its research and development efforts, Augustine Therapeutics aims to enhance the quality of life for patients afflicted with these challenging neurological conditions.

MyCellHub

Seed Round in 2019
MyCellHub.com is a pre-startup from the KULeuven in the biotherapeutics industry that aspires to reform the way cell production processes are organised. With a regulatory compliant Saas-platform for data management and analytics, we increase the efficiency of your manufacturing processes, provide actionable insights via cell culture specific process analytics and facilitate regulatory compliance by means of a real-time audit trail and automated batch records.

ArtiQ

Seed Round in 2019
ArtiQ NV develops ArtiQ|PFT, an artificial intelligence-based medical software that helps doctors to diagnose, treat, and monitor respiratory problems. Its software automatically processes pulmonary function test data and generates a clinical report. ArtiQ NV was founded in 2019 and is based in Leuven, Belgium.

Elimity

Seed Round in 2019
Elimity helps its customers to protect their important information assets with superior identity governance solutions

reMYND

Venture Round in 2018
Their Contract Research Organization (CRO) helps their clients assess the effects of their experimental Alzheimer treatments in their proprietary mouse models. They serve the majority of the Top 10 pharmaco’s worldwide with clients in the US, Europe and Japan. They have provided pivotal in-vivo proof-of-concept data for several candidate drugs currently in clinical development, and work actively together with Dr. Sugimoto, the inventor of Aricept.

Zeopore

Seed Round in 2018
Zeopore Technologies NV engages in producing mesoporous zeolite for the refining and petrochemical industry. The company was founded in 2017 and is based in Leuven, Belgium.

UgenTec

Series A in 2018
UgenTec BVBA delivers an independent diagnostic software platform to help molecular labs with their DNA (PCR) analyses. It offers The FastFinder 2.0 analysis software for helping lab technicians in their analysis of PCR data. It serves biotech companies, labs, and IT companies. The company was founded in 2014 and is based in Hasselt, Belgium.

Rewind Therapeutics

Series A in 2018
Rewind Therapeutics is a developer of novel therapeutics intended to facilitate the treatment for neurological diseases.The company's first-in-class remyelinating therapeutics block inhibitory signals that prevent the expansion and migration of oligodendrocyte stem cells in order to promote effective remyelination, enabling medical practitioners to treat patients suffering from multiple sclerosis and other myelin-related diseases with efficacy.

Rein4ced

Seed Round in 2017
Rein4ced B.V.B.A., founded in 2015 and based in Leuven, Belgium, specializes in the development and manufacture of advanced composite materials designed for various applications, including bicycles, cars, and aircraft. The company focuses on creating a unique steel-fiber composite that offers superior impact resistance compared to traditional carbon composites. This innovative material combines carbon composites with specially developed steel fibers, resulting in lightweight, durable products that maintain high stiffness. Rein4ced's offerings are particularly advantageous for bicycle frames, providing enhanced safety and longevity for cyclists.

Aphea.Bio

Series A in 2017
Aphea.Bio will develop next generation ‘biopesticides’ based on natural microorganisms. These products will provide an alternative for chemical pesticides, which are currently under serious pressure. In addition, the company will develop novel ‘biostimulants’, i.e. microorganisms that stimulate crop growth, for example through promoting the uptake of nutrients from the soil.

InOpSys

Seed Round in 2015
InOpSys NV specializes in the development and building of flexible, modular and mobile units for onsite toxic wastewater treatment. InOpSys NV is based in Mechelen, Belgium.

TrendMiner

Series B in 2015
Trendminer develops data search and mining software solutions for the process industry. It offers TMsearch that empowers the process specialists to find process trends; TMcapture that creates shift logbooks and adds the ability to manually add visual annotations straight into the trend client; and TMmonitor that allows users to monitor the progress of processes compared to the preferred states. The company was founded in 2013 and is based in Hasselt, Belgium with additional offices in Houston, Texas and Köln, Germany. As of June 12, 2018, TrendMiner NV operates as a subsidiary of Software Aktiengesellschaft.

Porphyrio

Series A in 2014
Porphyrio NV, based in Leuven, Belgium, specializes in providing advanced management systems for poultry and egg production. The company offers two primary products: Lay-Insight, which assists in managing egg production, and Broiler-Insight, designed for broiler management. These systems leverage intelligent data management and statistical algorithms to transform sensor data into actionable insights, enabling poultry farm managers to optimize operations and make informed decisions. Porphyrio's technology also integrates features such as access control and video surveillance, and it connects with external ERP systems. Serving a diverse range of poultry types—including breeders, broilers, laying hens, and turkeys—Porphyrio's solutions facilitate real-time data analysis and predictive modeling, enhancing operational efficiency and strategic planning in livestock production. As of November 2018, Porphyrio operates as a subsidiary of Evonik Industries AG.

Cartagenia

Venture Round in 2014
Cartagenia specializes in providing software and services for clinical genetics and molecular pathology laboratories. The company offers a platform designed for the assessment and reporting of clinical genomics data derived from next-generation sequencing and microarrays. This platform facilitates the visualization, assessment, and reporting of genetic data in relation to patient information, enabling genetic labs and clinicians to conduct clinically relevant analyses efficiently. By improving the speed and quality of genetic interpretation and counseling, Cartagenia aims to enhance the overall experience for patients and caregivers.

Trod Medical

Series B in 2013
Trod Medical S.A. is a medical equipment and surgical device manufacturer founded in 2006, with headquarters in Leuven, Belgium, and a presence in the Tampa Bay area, USA. The company specializes in developing innovative ablation technologies, particularly focusing on radiofrequency (RF) ablation devices. Trod Medical's flagship product, the EncageTM, is a disruptive percutaneous RF device that enables precise tissue ablation, significantly reducing collateral damage—a critical concern in treatments for conditions such as prostate cancer. With prostate cancer being one of the most prevalent cancers, affecting approximately 240,000 new patients annually in the United States, Trod Medical's technology addresses the limitations of conventional treatments that often lead to severe side effects, including erectile dysfunction and urinary incontinence. The company aims to enhance patient outcomes through its advanced medical devices designed for the focal ablation of soft tissues.

Complix

Series B in 2013
Complix NV is a biopharmaceutical company based in Diepenbeek, Belgium, with research facilities in Zwijnaarde, Belgium, and an office in Esch-sur-Alzette, Luxembourg. Founded in 2008, the company specializes in the discovery and development of Alphabodies, a novel class of protein therapeutics designed to target difficult disease sites, particularly in oncology and autoimmune diseases. These Alphabodies demonstrate high affinity for a variety of disease targets and possess unique stability and versatility, enabling non-injectable delivery methods. Complix aims to address challenging intracellular targets, thereby offering patients alternatives to traditional antibodies and small molecules, with the intent of improving treatment outcomes for complex conditions such as cancer, autoimmune disorders, and viral diseases.

Cartagenia

Venture Round in 2011
Cartagenia specializes in providing software and services for clinical genetics and molecular pathology laboratories. The company offers a platform designed for the assessment and reporting of clinical genomics data derived from next-generation sequencing and microarrays. This platform facilitates the visualization, assessment, and reporting of genetic data in relation to patient information, enabling genetic labs and clinicians to conduct clinically relevant analyses efficiently. By improving the speed and quality of genetic interpretation and counseling, Cartagenia aims to enhance the overall experience for patients and caregivers.

TrendMiner

Series A in 2010
Trendminer develops data search and mining software solutions for the process industry. It offers TMsearch that empowers the process specialists to find process trends; TMcapture that creates shift logbooks and adds the ability to manually add visual annotations straight into the trend client; and TMmonitor that allows users to monitor the progress of processes compared to the preferred states. The company was founded in 2013 and is based in Hasselt, Belgium with additional offices in Houston, Texas and Köln, Germany. As of June 12, 2018, TrendMiner NV operates as a subsidiary of Software Aktiengesellschaft.

Aristo Music Technology

Venture Round in 2008
Aristo Music NV develops selection and distribution techniques and technologies for digital music and provides music related services. The company also develops various Internet applications, which include a Web radio that consists of a musical database. It serves catering, retail, business, leisure, and government markets. The company is based in Heverlee, Belgium.

Formac Pharmaceuticals

Venture Round in 2007
FORMAC Pharmaceuticals N.V. operates as a pharmaceutical company which delivers drug. It develops delivery forms of generics drugs. Its drug delivery technologies include CMO, an ordered mesoporous silica-based carrier material that enables the release of poorly soluble drug compounds; PVA-co-PEG, a solid dispersion system, which enables the release of poorly soluble drug compounds; magnetic field technology for particle size reduction; and automated manifest system (AMS), a controlled release oral drug delivery system. It also offers biopharmaceutical and physicochemical pre-formulation services for the selection and prioritization of relevant drug candidates prior to formulation. The company was founded in 2007 and is based in Heverlee, Belgium.

Algonomics

Venture Round in 2007
AlgoNomics is a Belgium-based biotech company specializing in structural bioinformatics services aimed at developing rationally designed therapeutics, particularly in the field of immunotherapy. The company possesses a proprietary platform that includes advanced tools for analyzing protein-protein and protein-peptide interactions. Its flagship product, the Epibase platform, focuses on T-cell epitope identification across diverse population groups, facilitating the discovery of vaccines and therapeutic proteins. By providing comprehensive immunogenicity screening services, AlgoNomics supports the development of biotherapeutics designed to enhance immune responses.