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09.07.2024 08:10:34 - dpa-AFX: EQS-News: Andera Partners co-leads a EUR63 million Series A round for Munich-based autoimmune biotech SciRhom (english)
Andera Partners co-leads a EUR63 million Series A round for Munich-based
autoimmune biotech SciRhom
EQS-News: Andera Partners / Key word(s): Financing
Andera Partners co-leads a EUR63 million Series A round for Munich-based
autoimmune biotech SciRhom
09.07.2024 / 08:10 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Andera Partners co-leads a EUR63 million Series A round for Munich-based
autoimmune biotech SciRhom
Paris, France and Munich, Germany - July 9, 2024 - Andera Partners, a
leading European private equity player, announced today that it is
co-leading a EUR 63 million ($ 70 million) Series A financing for SciRhom, a
biopharmaceutical company pioneering the development of first-in-class
therapeutic iRhom2 antibodies. The financing round was led by an investor
syndicate which, in addition to Andera, includes new investors Kurma
Partners, Hadean Ventures, MIG Capital, and Wellington Partners, with
participation from new investor Bayern Kapital and existing investors, among
them High-Tech Gründerfonds (HTGF) and PhiFund Ventures. The new funds will
be used to accelerate and broaden the impact of the company's innovative
therapeutic strategy in autoimmune disorders. The first clinical study
evaluating SR-878, a highly specific monoclonal antibody for iRhom2, is
expected to start dosing in the second half of 2024.
SciRhom was founded with the mission to provide a new treatment paradigm for
autoimmune diseases and potentially other indications by selectively
addressing TACE/ADAM17, a master switch for various autoimmune
disease-relevant signaling pathways, via iRhom2. The SciRhom team
collaborated closely with co-founders Prof. Carl Blobel and the Hospital for
Special Surgery (HSS), the world's leading academic medical center
specialized in Rheumatology and musculoskeletal health, where Prof. Blobel
serves as Director of the Arthritis and Tissue Degeneration Program. He has
made seminal contributions to the understanding of how iRhom2 controls the
activity of TACE/ADAM17 in inflammation and autoimmune diseases. SciRhom
designed its most advanced development candidate SR-878 to simultaneously
block several pro-inflammatory and disease-driving pathways, including
TNF-alpha, IL-6R, and EGFR signaling, while preserving other vital functions
dependent on TACE/ADAM17. This unique ability to attack multiple cytokines
and to potentially promote immune tolerance through restoring beneficial
TNFR2 signaling and regulatory T-cell expansion promises to have a
transformative effect in patients across a wide range of autoimmune
diseases. Moreover, the selective targeting of iRhom2 is expected to have a
favorable safety profile.
"Since its foundation, SciRhom has applied rigorous science to establish a
leading position in iRhom2-targeting biopharmaceuticals including a
comprehensive IND/CTA-enabling data and CMC package and strong patent
protection. Now is the time to shift gears and accelerate our novel and
potentially groundbreaking therapeutic strategy towards clinical
proof-of-concept and beyond to reach patients in need of better autoimmune
treatments," commented Dr. Jens Ruhe, co-founder, Managing Director and COO
of SciRhom.
Based on positive preclinical data sets generated in vitro and in
established animal models of rheumatoid arthritis (RA) and inflammatory
bowel disease (IBD), SciRhom has advanced its first program to a Phase
1-ready stage. As announced on June 12th, 2024, the first CTA approval was
achieved paving the way for initiating a first clinical study in Austria in
the second half of 2024. The study aims to evaluate safety in healthy
volunteers and provide initial evidence of clinical activity in the second
part of the study.
Dr. Jan Poth, Managing Director and CEO of SciRhom, added: "We are excited
to have attracted such a high-caliber international consortium of investors
and appreciate our existing shareholders backing SciRhom in this crucial
period of its development. We look forward to collaborating with our new as
well as existing partners and board members to bring a differentiated
therapeutic option to patients and address the unmet medical need for much
more effective and safe treatments for autoimmune disorders."
In conjunction with this investment, Dr. Olivier Litzka from Andera
Partners, Dr. Peter Neubeck from Kurma Partners, Dr. Georgina Askeland from
Hadean Ventures, Dr. Fei Tian from MIG Capital and Dr. Varun Gupta from
Wellington Partners will join SciRhom's Board of Directors.
Olivier Litzka, PhD, Partner at Andera Partners in Munich, stated: "Building
on our investments in promising biotech companies in the region such as
Tubulis, Tricares, t-knife and Ariceum, the financing of SciRhom is our
third life sciences investment in Germany within three years out of our
BioDiscovery 6 fund. We are excited to further strengthen our footprint in
the DACH region by partnering with the experienced and dedicated team at
SciRhom and such an esteemed syndicate of investors. SciRhom's pioneering
approach to targeting iRhom2, a key driver of inflammation, has
transformative potential for patients with autoimmunne diseases and we look
forward to supporting the company as it starts clinical development of its
novel iRhom2-targeting antibody."
ABOUT SCIRHOM
At SciRhom, we are translating world-leading expertise in the TACE/ADAM17
pathway and its central role in autoimmunity and other indications into
breakthrough biopharmaceuticals. We are developing proprietary and
first-in-class iRhom2-targeting therapies and are accelerating our lead
antibody program SR-878 into and through clinical development. With strong
support from international lead investors Andera Partners, Kurma Partners,
Hadean Ventures, MIG Capital, Wellington Partners, as well as Bayern Kapital
and current shareholders, SciRhom aims to push the boundaries in autoimmune
medicine.
For further information, please visit www.SciRhom.com
ABOUT ANDERA PARTNERS
Created over 20 years ago, Andera Partners is a major player in private
company investments in France and internationally. Its teams manage EUR4.2
billion in investments in life sciences (Andera Life Sciences), growth and
buyout capital (Andera MidCap, Andera Expansion/Croissance, Andera
Co-Invest), sponsorless transactions (Andera Acto) and ecological transition
(Andera Infra).
Based in Paris, with offices in Antwerp, Milan and Munich, Andera Partners
is wholly owned by its teams, which count nearly 115 professionals, of which
69 investment professionals. It is structured as a partnership and managed
by a board of 13 partners.
Andera's 15-person life sciences team brings together extensive experience
in the life sciences industry, private equity and venture capital. Active
since 2000, the team has raised over EUR1.1 billion through its BioDiscovery
family of funds and is currently investing from its BioDiscovery 6 fund.
Since inception, the BioDiscovery funds have invested in more than 75
European and U.S. biotech and medtech companies.
For further information please visit: www.anderapartners.com
MEDIA CONTACTS
---------------------------------------------------------------------------
09.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
1941617 09.07.2024 CET/CEST
autoimmune biotech SciRhom
EQS-News: Andera Partners / Key word(s): Financing
Andera Partners co-leads a EUR63 million Series A round for Munich-based
autoimmune biotech SciRhom
09.07.2024 / 08:10 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Andera Partners co-leads a EUR63 million Series A round for Munich-based
autoimmune biotech SciRhom
* SciRhom will use the upsized and oversubscribed Series A financing to
drive its lead development program toward clinical proof-of-concept and
to broaden the therapeutic value of the proprietary iRhom2 strategy
* Financing led by top-tier investor syndicate including Andera Partners,
Kurma Partners, Hadean Ventures, MIG Capital, and Wellington Partners,
with participation from new investor Bayern Kapital and existing
investors, among them High-Tech Gründerfonds and PhiFund Ventures
Paris, France and Munich, Germany - July 9, 2024 - Andera Partners, a
leading European private equity player, announced today that it is
co-leading a EUR 63 million ($ 70 million) Series A financing for SciRhom, a
biopharmaceutical company pioneering the development of first-in-class
therapeutic iRhom2 antibodies. The financing round was led by an investor
syndicate which, in addition to Andera, includes new investors Kurma
Partners, Hadean Ventures, MIG Capital, and Wellington Partners, with
participation from new investor Bayern Kapital and existing investors, among
them High-Tech Gründerfonds (HTGF) and PhiFund Ventures. The new funds will
be used to accelerate and broaden the impact of the company's innovative
therapeutic strategy in autoimmune disorders. The first clinical study
evaluating SR-878, a highly specific monoclonal antibody for iRhom2, is
expected to start dosing in the second half of 2024.
SciRhom was founded with the mission to provide a new treatment paradigm for
autoimmune diseases and potentially other indications by selectively
addressing TACE/ADAM17, a master switch for various autoimmune
disease-relevant signaling pathways, via iRhom2. The SciRhom team
collaborated closely with co-founders Prof. Carl Blobel and the Hospital for
Special Surgery (HSS), the world's leading academic medical center
specialized in Rheumatology and musculoskeletal health, where Prof. Blobel
serves as Director of the Arthritis and Tissue Degeneration Program. He has
made seminal contributions to the understanding of how iRhom2 controls the
activity of TACE/ADAM17 in inflammation and autoimmune diseases. SciRhom
designed its most advanced development candidate SR-878 to simultaneously
block several pro-inflammatory and disease-driving pathways, including
TNF-alpha, IL-6R, and EGFR signaling, while preserving other vital functions
dependent on TACE/ADAM17. This unique ability to attack multiple cytokines
and to potentially promote immune tolerance through restoring beneficial
TNFR2 signaling and regulatory T-cell expansion promises to have a
transformative effect in patients across a wide range of autoimmune
diseases. Moreover, the selective targeting of iRhom2 is expected to have a
favorable safety profile.
"Since its foundation, SciRhom has applied rigorous science to establish a
leading position in iRhom2-targeting biopharmaceuticals including a
comprehensive IND/CTA-enabling data and CMC package and strong patent
protection. Now is the time to shift gears and accelerate our novel and
potentially groundbreaking therapeutic strategy towards clinical
proof-of-concept and beyond to reach patients in need of better autoimmune
treatments," commented Dr. Jens Ruhe, co-founder, Managing Director and COO
of SciRhom.
Based on positive preclinical data sets generated in vitro and in
established animal models of rheumatoid arthritis (RA) and inflammatory
bowel disease (IBD), SciRhom has advanced its first program to a Phase
1-ready stage. As announced on June 12th, 2024, the first CTA approval was
achieved paving the way for initiating a first clinical study in Austria in
the second half of 2024. The study aims to evaluate safety in healthy
volunteers and provide initial evidence of clinical activity in the second
part of the study.
Dr. Jan Poth, Managing Director and CEO of SciRhom, added: "We are excited
to have attracted such a high-caliber international consortium of investors
and appreciate our existing shareholders backing SciRhom in this crucial
period of its development. We look forward to collaborating with our new as
well as existing partners and board members to bring a differentiated
therapeutic option to patients and address the unmet medical need for much
more effective and safe treatments for autoimmune disorders."
In conjunction with this investment, Dr. Olivier Litzka from Andera
Partners, Dr. Peter Neubeck from Kurma Partners, Dr. Georgina Askeland from
Hadean Ventures, Dr. Fei Tian from MIG Capital and Dr. Varun Gupta from
Wellington Partners will join SciRhom's Board of Directors.
Olivier Litzka, PhD, Partner at Andera Partners in Munich, stated: "Building
on our investments in promising biotech companies in the region such as
Tubulis, Tricares, t-knife and Ariceum, the financing of SciRhom is our
third life sciences investment in Germany within three years out of our
BioDiscovery 6 fund. We are excited to further strengthen our footprint in
the DACH region by partnering with the experienced and dedicated team at
SciRhom and such an esteemed syndicate of investors. SciRhom's pioneering
approach to targeting iRhom2, a key driver of inflammation, has
transformative potential for patients with autoimmunne diseases and we look
forward to supporting the company as it starts clinical development of its
novel iRhom2-targeting antibody."
ABOUT SCIRHOM
At SciRhom, we are translating world-leading expertise in the TACE/ADAM17
pathway and its central role in autoimmunity and other indications into
breakthrough biopharmaceuticals. We are developing proprietary and
first-in-class iRhom2-targeting therapies and are accelerating our lead
antibody program SR-878 into and through clinical development. With strong
support from international lead investors Andera Partners, Kurma Partners,
Hadean Ventures, MIG Capital, Wellington Partners, as well as Bayern Kapital
and current shareholders, SciRhom aims to push the boundaries in autoimmune
medicine.
For further information, please visit www.SciRhom.com
ABOUT ANDERA PARTNERS
Created over 20 years ago, Andera Partners is a major player in private
company investments in France and internationally. Its teams manage EUR4.2
billion in investments in life sciences (Andera Life Sciences), growth and
buyout capital (Andera MidCap, Andera Expansion/Croissance, Andera
Co-Invest), sponsorless transactions (Andera Acto) and ecological transition
(Andera Infra).
Based in Paris, with offices in Antwerp, Milan and Munich, Andera Partners
is wholly owned by its teams, which count nearly 115 professionals, of which
69 investment professionals. It is structured as a partnership and managed
by a board of 13 partners.
Andera's 15-person life sciences team brings together extensive experience
in the life sciences industry, private equity and venture capital. Active
since 2000, the team has raised over EUR1.1 billion through its BioDiscovery
family of funds and is currently investing from its BioDiscovery 6 fund.
Since inception, the BioDiscovery funds have invested in more than 75
European and U.S. biotech and medtech companies.
For further information please visit: www.anderapartners.com
MEDIA CONTACTS
* Nicolas DELSERT, Andera Partners: +33 6 22 67 71 17,
n.delsert@anderapartners.com
* Dr. Cora KAISER, Dr. Johanna KOBLER, MC Services: +49 89 210 228 0,
andera@mc-services.eu
---------------------------------------------------------------------------
09.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
1941617 09.07.2024 CET/CEST
