Over millions of years, animal venoms evolved to act with extreme precision on vital systems, such as the cardiovascular or renal systems, inspiring V4Cure’s research. Using the world’s most comprehensive venom peptide libraries and a unique discovery platform, our team at V4Cure develops first-in-class, highly selective and safe peptide therapies. Our lead asset, V4C-232, targets refractory ascites as a first indication, a life-threatening liver cirrhosis complication with no approved treatments, and rare polycystic kidney diseases as a second indication. We are raising funds to advance our peptide to clinical trials and bring hope to patients in urgent need.

20
remaining days
88 investors
Investment achieved
1.680.693€
Target
1.500.000€
Invested
112.1%
112.1% INVESTED
Maturity

Prototype/preclinical

Premoney valuation

4.705.827

Estimated exit

2029

Sector

New drugs

Equity offered

22%

Minimum investment

1.000

Paris flag
Equity L
Tax deduction L
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Overview: V4Cure

Valuation 4.705.827
Estimated return x30
% Offered 22%
Estimated exit 2029

First-in-class drug candidate inducing water elimination targeting refractory ascites and polycystic kidney diseases, addressing a combined market opportunity of over $2 billion.

Building on a validated mechanism of action, V4C-232 provides a safer, more efficient solution where current V2R-targeting drugs are limited by toxicity.

Exceptional selectivity and safety — precisely targets its receptor while avoiding 200 similar ones, with a high safety index of ~100 and no hepatotoxicity, enabling safe treatment for more patients.

Demonstrated superior efficacy than reference product, with improvement of 100-fold in the effective dose in experimental models.

A cutting-edge R&D platform designed to generate a robust pipeline of ultra-potent molecules, all derived from natural bioactive compounds.

V4Cure is a French biotech company developing a new generation of peptide-based therapies derived from animal venoms.

Founded in 2023, V4Cure is a spin-off from the CEA (French Alternative Energies and Atomic Energy Commission) and aims to address severe cardio-hepato-renal diseases for which no safe or effective treatments currently exist.

By harnessing the extraordinary therapeutic potential of peptides within animal venom, V4Cure is creating first-in-class treatments for life-threatening and neglected conditions such as refractory ascites and polycystic kidney diseases.

Venom peptides: a unique and underutilized source of innovation

Over millions of years, animal venoms have evolved to precisely target vital physiological systems such as the nervous or cardiovascular systems to immobilize prey or deter predators. These same pathways are often implicated in human diseases, making venom-derived molecules a powerful starting point for drug discovery.

V4Cure draws on over 10 years of CEA research and one of the world’s most comprehensive venom peptide libraries. Our proprietary discovery platform allows us to identify their properties and then to create new therapeutic peptides that are both highly selective and safer than small molecules. All our therapeutic peptides are synthetically produced.

Our lead target is the vasopressin-2 receptor (V2R), a key regulator of water retention involved in several serious diseases, including cirrhotic ascites, heart failure and polycystic kidney diseases.

V4C-232, a first-in-class solution for patients with no alternatives

V4Cure’s lead candidate, V4C-232, is a first-in-class, venom-derived V2 receptor antagonist that induces aquaresis—excretion of water without sodium loss—without the liver toxicity seen in previous drugs targeting this pathway.

Refractory ascites: a severe condition with very limited therapeutic options, affecting millions of patients worldwide

To establish a strong market entry, we are targeting first refractory ascites in cirrhosis, a severe condition with no approved drug treatments and minimal competition. Today, patients must undergo repeated hospital procedures to drain the accumulated fluid, or resort to invasive interventions such as shunt placement or liver transplantation. Yet, access to transplants is limited: only around half of eligible patients actually receive one. This pressing therapeutic gap underscores both the clinical urgency and market potential of V4C-232.

Beyond ascites, blocking the V2 receptor is a clinically validated strategy for treating polycystic kidney disease (PKD), a group of rare genetic disorders that progressively impair kidney function. Building on this, we are advancing V4C-232 as a second indication for PKD.

V4C-232 offers a biologically derived, safer alternative with the potential to improve patient outcomes and set a new standard of care in both indications. V4Cure holds exclusive global rights to two patent families covering V4C-232’s use in both refractory ascites and PKD.

On a larger scale, our drug could address unmet medical needs in conditions associated with fluid retention for which no effective therapeutic solution currently exists.

To optimize clinical use, V4C-232 is being developed as an injectable formulation, well-suited to hospital settings. This enables precise dosing, rapid treatment initiation, and better compliance, helping to accelerate regulatory approval and establish V4Cure as a leader in V2 receptor-targeted therapies.

A clear strategy to reach clinical proof of concept

V4Cure’s business model focuses on advancing drug candidates through Phase 2 clinical proof of concept, then licensing them to pharmaceutical partners for late-stage development and commercialization.

Our current priority is to demonstrate the clinical efficacy of V4C-232 in hospitalized patients with refractory ascites, with first-in-patient data expected from a Phase 1b trial in 2027.

V4C-232 has all the pre-clinical proof of concept, and is now ready to advance the following roadmap:

  • Complete regulatory toxicity studies in 2 species for clinical trial application (CTA) filing
  • Regulatory filings (IND/CTA) in 2026
  • Clinical first-in-human Phase 1/1b trials to finalise by the end of 2027
  • Application to the Orphan Drug Designation for refractory ascites
  • Clinical proof of concept in refractory ascites Phase 2 by 2028, together with the regulatory filings (IND/CTA) for PKD

Funding progress and upcoming milestones

V4Cure is raising a €1.5M pre-Series A round to complete regulatory toxicity studies required for clinical trial authorization. Combined with €2M in non-dilutive funding, this will support the initiation of Phase 1/1b clinical trials in 2027, with results expected in 2028.

A pipeline with significant expansion potential

While V4C-232 is V4Cure’s first clinical asset, our discovery platform supports the development of a broad pipeline of venom-derived peptides, including candidates targeting metastatic renal cancer & cardiovascular diseases.

Why is Capital Cell investing in this company?

V4Cure combines a differentiated discovery platform with a clear path to value creation in indications with high unmet need. Its core technology is based on a proprietary library of venom-derived peptides, enabling the company to identify highly selective molecules against biologically validated targets that are difficult to address through conventional drug design.

Through this platform, the company is initially focused on refractory ascites and polycystic kidney disease, two serious conditions that are clear unmet clinical needs. In preclinical disease models, V4Cure’s lead candidate did more than just improve the physical appearance of diseased organs; it actually recovered kidney function back to healthy levels. In head-to-head studies against the current standard of care, Tolvaptan, the asset also demonstrated a more favourable efficacy and safety profile.

These results validate a novel mechanism of action and position V4Cure’s lead asset for first-in-class potential, meaning the company wouldn’t be fighting for the same “space” as other drugs. The program could also benefit from potential orphan designation and a profile likely to attract pharmaceutical partners for licensing or acquisition. The company also tackles a significant market, addressing up to $2B globally with no current curative option.

This round will fund regulatory preclinical studies and initiate Phase 1 trials (first-in-patient), creating a strong value inflection point for the next financing stage. V4Cure is supported by leading French institutions, including CEA, Paris Biotech Santé, and the WILCO accelerator, with a scientific foundation spanning over a decade.

Minimum investment: 1.000
Type of exit expected: M&A
Drag-along rights
Tag-along rights
Preferential liquidation right
The sale proceeds are distributed via a waterfall where, after a nominal refund and a 30% pro-rata split, New Investors (Capital Cell) have priority to recover 100% of their 2026 investment before Historical Investors receive theirs. Any remaining surplus is then shared among all shareholders based on their percentage of ownership.
Anti-dilution law
Tax deductions
Subscribing to the capital of a company, such as a JEIR, entitles the investor to a reduction in income tax (IR-PME), provided certain conditions are met. The subscriber must be a natural person, i.e. an individual or sole trader, resident in France for tax purposes, and must undertake to hold the securities received in exchange for the subscription (company shares or stocks) for a minimum period of five years. The amount of payments taken into account when calculating this tax reduction is limited to €50,000 for a single, widowed or divorced person, and €100,000 for a married or civil union couple subject to joint taxation. For more information, visit entreprendre.service-public.fr.
Main risks

As an early-stage biotech, V4Cure faces the typical risks of developing novel therapies. The company is still completing regulatory toxicity studies—essential safety tests required by authorities before starting human clinical trials. Until these studies are successfully completed, there is uncertainty around the safety profile and regulatory approval timeline, which could impact development progress.