German iRhom2-targeted antibody specialist SciRhom GmbH has closed an oversubscribed €63m Series A financing. The funding will be used to provide clinical proof of concept in autoimmune disorders. The financing was co-led by Andera Partners, Kurma Partners, Hadean Ventures, MIG Capital, and Wellington Partners. New investor Bayern Kapital and existing investors iHigh-Tech Gründerfonds (HTGF) and PhiFund Ventures also participated. The first clinical study evaluating SR-878, a humanised monoclonal antibody targeting iRhom2, is expected to start dosing in H2/2024.
📢 SciRhom GmbH Secures €63m Funding for Autoimmune Breakthrough
Introduction:
German iRhom2-targeted antibody specialist SciRhom GmbH has closed a €63m Series A financing round. The funding will be used to provide clinical proof of concept in autoimmune disorders.
Main points:
- The Series A financing round was co-led by Andera Partners, Kurma Partners, Hadean Ventures, MIG Capital, Wellington Partners, and Bayern Kapital. Existing investors iHigh-Tech Gründerfonds (HTGF) and PhiFund Ventures also participated.
- The funds will be used to accelerate and broaden the impact of the company’s TACE pathway-targeted programs in autoimmune and inflammatory diseases, as well as in oncological, infectious, and metabolic diseases in the long term.
- TACE (TNF-alpha converting enzyme) controls several major signaling pathways, and iRhom2 specifically regulates the TACE-dependent release of pro-inflammatory pathways while preserving other vital functions dependent on TACE/ADAM17.
- SciRhom plans to evaluate the safety and clinical benefits of its humanized monoclonal antibody targeting iRhom2, SR-878, in a first clinical study starting in the second half of 2024.
- The company’s ability to attack multiple cytokines and potentially promote immune tolerance through restoring beneficial signaling and regulatory T-cell expansion sets it apart.
Conclusion:
The €63m Series A financing will enable SciRhom GmbH to advance its TACE pathway-targeted programs and evaluate the clinical benefits of its iRhom2-targeted antibody in autoimmune disorders. This funding will support the development of new treatment paradigms for difficult-to-treat autoimmune diseases and potentially pave the way for future applications in oncology, infectious diseases, and metabolic diseases.
