SciRhom Gains EUR 63M Series A Funding to Boost iRhom2 Autoimmune Therapies

SciRhom GmbH, a biopharmaceutical company based in Munich, Germany, has announced the completion of a significant Series A financing round, raising EUR 63 million (USD 70 million). This funding round, which was both upsized and oversubscribed, was led by prominent investment firms including Andera Partners, Kurma Partners, Hadean Ventures, MIG Capital, and Wellington Partners. Additional support came from new investor Bayern Kapital and existing investors like High-Tech Gründerfonds (HTGF) and PhiFund Ventures.

The newly acquired funds will be pivotal in advancing SciRhom’s pioneering therapeutic strategies, specifically targeting autoimmune disorders. SciRhom is focused on developing first-in-class iRhom2 antibodies, with their lead candidate being SR-878, a highly specific monoclonal antibody. The company is preparing to initiate the first clinical study for SR-878 in the second half of 2024, marking a significant milestone in its journey towards clinical proof-of-concept.

SciRhom’s mission is to revolutionize the treatment landscape for autoimmune diseases by selectively targeting TACE/ADAM17, a critical enzyme involved in multiple disease-relevant signaling pathways. The company was founded in collaboration with Prof. Carl Blobel from the Hospital for Special Surgery (HSS), a leading institution in Rheumatology and musculoskeletal health. Prof. Blobel’s research has been instrumental in understanding the role of iRhom2 in regulating TACE/ADAM17 activity, which is crucial in inflammation and autoimmune diseases.

The lead development candidate, SR-878, is designed to block multiple pro-inflammatory pathways, including TNF-alpha, IL-6R, and EGFR signaling, while maintaining essential TACE/ADAM17 functions. This multifaceted approach aims to restore immune balance and promote regulatory T-cell expansion, potentially offering a transformative treatment for a wide array of autoimmune diseases. Additionally, the selective targeting of iRhom2 is anticipated to have a favorable safety profile, enhancing its therapeutic potential.

Dr. Jens Ruhe, Co-founder and Managing Director & COO of SciRhom, emphasized the company’s commitment to rigorous scientific principles, which have established it as a leader in iRhom2-targeting biopharmaceuticals. With a comprehensive IND/CTA-enabling data package and robust patent protection, SciRhom is poised to accelerate its innovative therapeutic strategy to clinical validation and meet the urgent need for more effective autoimmune treatments.

Preclinical data have shown promising results in various models of rheumatoid arthritis (RA) and inflammatory bowel disease (IBD), bringing SciRhom’s lead program to a Phase 1-ready stage. Following the first CTA approval in June 2024, the company is set to begin its initial clinical study in Austria. This study will focus on evaluating the safety of SR-878 in healthy volunteers and will include an assessment of clinical activity in a subsequent phase.

Dr. Jan Poth, Managing Director & CEO of SciRhom, expressed enthusiasm about the high-caliber international investor consortium backing the company. He highlighted the importance of collaboration with both new and existing partners to advance SR-878 and address the unmet needs in the treatment of autoimmune disorders.

Hans-Ulrich Rabe, Chairman of the Advisory Board, commended the progress SciRhom has made from inception to CTA approval and expressed optimism about the future clinical developments. The new members joining SciRhom’s Board of Directors, including representatives from Andera Partners, Kurma Partners, Hadean Ventures, MIG Capital, and Wellington Partners, are expected to play a crucial role in guiding the company’s strategic direction.

The legal aspects of the transaction were managed by SNP Schlawien Partnerschaft, led by Dr. Thomas Schmid.

SciRhom is dedicated to translating cutting-edge research on the TACE/ADAM17 pathway into breakthrough biopharmaceuticals, aiming to push the boundaries in autoimmune disease treatment. With strong backing from international investors and a committed team, the company is set to make significant strides in developing innovative therapies for autoimmune conditions.