Theodorus III

Theodorus is the venture capital arm of Université Libre de Bruxelles in Belgium, established in 2003. The firm specializes in seed and early-stage investments, focusing exclusively on spin-offs from the university. It targets sectors such as biotechnology, medical devices, engineering technologies, and high-tech applications. Theodorus primarily invests in the Walloon region of Belgium, allocating between €0.25 million and €2 million per company. Additionally, the firm has an office in Montreal, Canada, expanding its reach to early-stage projects based on proprietary disruptive technologies across both Canada and Europe.

Olivier Belenger

Founder and Managing Partner of Theodorus III

20 past transactions

Simmunome AI

Pre Seed Round in 2023
Simmunome AI develops computational models of disease pathogenesis using artificial intelligence. They focus on oncology and neurological diseases, creating accurate molecular-level models to facilitate drug discovery.

Flare

Series A in 2022
Flare Systems Inc is a Montreal-based company that specializes in developing cybersecurity tools aimed at helping financial institutions protect their data from cybercriminals. Founded in 2017, the company offers a dark net monitoring system that provides intelligence to information security and fraud management teams within banks. By aggregating data from various sources, including broadcasts of stolen information, private forum discussions, chat posts, and cryptocurrency transactions, Flare's platform delivers actionable insights that assist financial crime teams in identifying and mitigating security threats. Its technology enables organizations to monitor activities across threat landscapes and connect the chains of attack, such as phishing and money laundering, thereby preventing cyber attacks before they result in costly data breaches.

Domain Therapeutics

Series A in 2022
Domain Therapeutics SA is a biopharmaceutical company based in Illkirch-Graffenstaden, France, focused on the discovery and early development of therapeutic drugs targeting G protein-coupled receptors (GPCRs), which are key drug targets in various diseases. Founded in 2001, the company specializes in developing small molecules for the treatment of central nervous system (CNS) disorders and cancer. It employs its proprietary technology platform, DTect-All, which enables the identification of orthosteric and allosteric ligands, including Silent Allosteric Modulators (SAMs) that are challenging to discover using conventional methods. In addition, Domain Therapeutics offers BioSens-All, a platform to explore the signaling complexities associated with GPCR activation, enhancing its ability to address difficult targets, such as orphan and peptidic GPCRs.

DrugBank

Seed Round in 2022
DrugBank is a leading provider of pharmaceutical knowledge databases. It offers an extensive suite of products powered by the world's most comprehensive and up-to-date drug information. The company enables businesses to enhance healthcare delivery through precision medicine and clinical software applications, while also facilitating drug discovery through data science. DrugBank's structured datasets are used for uncovering novel drug candidates, identifying repurposing opportunities, and building predictive machine learning models. Additionally, DrugBank Online, a publicly available resource, offers limited datasets for academic and non-commercial researchers.

Cascador Health

Seed Round in 2022
Cascador Health develops a healthcare data platform that connects data providers with the research community, enabling access to structured, validated, and anonymized real-world data. The platform supports insights into therapeutic outcomes, improves site selection for clinical studies, and helps monitor safety and adverse effects, while optimizing hospital processes. By making real-world data available to healthcare providers and life science clients, the company aims to support better care and informed decision making.

HYPNO VR

Series A in 2021
Hypno VR SAS is a company that specializes in developing and operating virtual reality-based medical hypnosis solutions aimed at managing pain and stress. Founded in 2016 and headquartered in Strasbourg, France, Hypno VR creates applications designed to facilitate medical hypnosis during procedures, thereby reducing anxiety and discomfort for patients. The company's technology is particularly beneficial in various medical fields, including pediatric surgery, gastroenterology, gynecology, and dental surgery. In addition to its software solutions, Hypno VR also develops virtual reality hardware tailored for medical applications, catering to health professionals and institutions seeking innovative ways to enhance patient care.

Giiant Pharma

Seed Round in 2021
Giiant Pharma is a preclinical-stage biotechnology company developing gut-restricted, tissue-targeted small molecule therapeutics for gastroenterology and inflammatory bowel diseases. Leveraging a proprietary Precision Delivery platform, it uses the gut microbiota to bioactivate and release active drug forms specifically in the lower GI tract, minimizing systemic exposure and potentially improving tolerability and efficacy. The company’s lead program, GT-2108, is a microbiota-activated PDE4 inhibitor prodrug designed to reduce inflammation in the colon. By focusing on localized delivery and reduced systemic exposure, Giiant aims to provide safer, more effective treatments for IBD and related GI conditions.

Classcraft

Venture Round in 2021
Classcraft is an online educational role-playing game designed to enhance classroom management and engage students in the learning process. Founded by Lauren Young, Devin Young, and Shawn Young, the platform offers a gamified experience that motivates learners by promoting teamwork and personal growth. It enables educators to foster positive student behavior through interactive gameplay, where students can earn rewards and develop skills that reflect real-world consequences. Classcraft is accessible across multiple platforms, including Android, iOS, OS X, Chrome, and Windows, making it a versatile tool for teachers and administrators aiming to create a more dynamic and engaging educational environment.

Chromacure

Venture Round in 2018
ChromaCure is a biotechnology company focused on developing innovative cancer therapies. The company specializes in discovering first-in-class small molecule therapeutics that address unmet needs in oncology. ChromaCure's primary goal is to identify potential new drug candidates that selectively and potently inhibit cancer targets, offering novel treatment options for various forms of cancer. These therapies are designed to be used either as monotherapy or in combination with existing treatments such as immunotherapy or chemotherapy, aiming to provide more effective solutions for cancer patients.

VIRTEO NV

Series A in 2018
VIRTEO NV is a Belgian company founded in 2013 and headquartered in Mechelen. It operates a Software as a Service (SaaS) platform designed to facilitate the recovery of unpaid invoices for various clients, including corporations, small and medium-sized enterprises (SMEs), public institutions, court bailiffs, and lawyers. The platform streamlines internal dunning and external debt collection processes, enabling creditors to work efficiently with their partners while maintaining transparency and compliance. By offering tools that help manage the practices of external collection agencies, VIRTEO empowers clients to adhere to socially responsible policies while improving recovery rates and reducing costs. The company's approach aims to balance the goals of financial recovery with ethical standards, enhancing the reputation of the debt collection industry.

PharmaFluidics

Venture Round in 2018
PharmaFluidics is a Brussels-based spin-off from the Vrije Universiteit Brussel, focusing on developing and manufacturing micro-chip based chromatography columns for use in biomarker, diagnostics, and drug research applications. The company leverages its expertise in chemical engineering and micro-fabrication technology to create high-quality solutions tailored for mixing, separation, and reaction processes at milli- to nano-scales. Their products enable researchers to identify active compounds in complex biological samples more efficiently and sensitively.

Acar'Up

Venture Round in 2017
Acar'Up develops and design a trap device designed to extract and kill the allergenic dust mites living in mattresses, chairs, carpets and other upholstered furniture.

X4C

Seed Round in 2016
X4C specializes in developing advanced monolayer chemical coating technology for a variety of life science applications. The company creates molecular coatings tailored for in vitro diagnostics, medical devices, electronics, and optics. X4C's innovative platform employs a unique approach to surface coating that allows for the precise grafting of robust organic monolayers. This technology enables healthcare professionals to impart specific functionalities to substrates while maintaining their inherent properties. Additionally, X4C offers a range of products, including nanoparticles and calixarenes, along with customized services to meet the diverse needs of its clients in the life sciences sector.

Domobios

Seed Round in 2016
Domobios specializes in the development and manufacturing of innovative solutions for eradicating domestic pests. Founded in 2013, the company is headquartered in Brussels, Belgium.

Domobios

Seed Round in 2015
Domobios specializes in the development and manufacturing of innovative solutions for eradicating domestic pests. Founded in 2013, the company is headquartered in Brussels, Belgium.

Ovizio

Venture Round in 2015
Ovizio develops digital holographic interferometric microscopy products. It specializes in creating four-dimensional microscopic imaging devices and software based on digital holographic microscopy for life sciences research and bioprocessing.

CluePoints

Series A in 2015
CluePoints Inc. is a developer of cloud-based risk-based quality management and monitoring software tailored for the pharmaceutical industry and contract research organizations. Established in 2012 and headquartered in King of Prussia, Pennsylvania, with an additional office in Louvain-la-Neuve, Belgium, CluePoints specializes in risk-based monitoring and central statistical monitoring solutions. Over its 15 years of development, the company has refined its software to utilize unique statistical algorithms that assess the quality, accuracy, and integrity of clinical trial data throughout the study lifecycle. The company's solutions are designed to identify and address anomalous data and site errors, thereby enhancing clinical data quality, optimizing on-site monitoring, and reducing regulatory submission risks. CluePoints' offerings align with guidelines from international regulatory bodies, supporting traditional monitoring and enabling a proactive risk-based monitoring strategy.

neoScores

Series A in 2015
neoScores is an innovative company based in Kontich, Belgium, that specializes in providing an online platform for purchasing and playing digital sheet music. Established in 2013 by three professional musicians—Bart Van der Roost, Bob Hamblok, and Jonas Coomans—the company aims to transform the way musicians access and utilize sheet music. The platform, known as Gustaf, is compatible across various operating systems and devices, enabling users to securely buy scores and share notes with fellow musicians from anywhere. With a focus on high-quality, flexible, and aesthetically pleasing digital scores, neoScores strives to enhance the musical experience for users, allowing them to engage with music seamlessly via smartphones, tablets, or computers.

PharmaFluidics

Venture Round in 2014
PharmaFluidics is a Brussels-based spin-off from the Vrije Universiteit Brussel, focusing on developing and manufacturing micro-chip based chromatography columns for use in biomarker, diagnostics, and drug research applications. The company leverages its expertise in chemical engineering and micro-fabrication technology to create high-quality solutions tailored for mixing, separation, and reaction processes at milli- to nano-scales. Their products enable researchers to identify active compounds in complex biological samples more efficiently and sensitively.
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