SciRhom raises $70m for autoimmune disease therapies

German biopharmaceutical firm SciRhom has successfully raised €63 million ($70 million) in a Series A funding round to advance its development of iRhom2-targeting treatments for autoimmune diseases. This significant financing effort was collaboratively led by a group of investors, including Andera Partners, Hadean Ventures, Kurma Partners, MIG Capital, and Wellington Partners. Additionally, Bayern Kapital joined as a new investor, alongside existing backers High-Tech Gründerfonds and PhiFund Ventures.

The investment will accelerate the progression of SciRhom’s therapeutic strategy, specifically aimed at combating autoimmune disorders. Central to this strategy is SciRhom's lead candidate, SR-878, a monoclonal antibody designed to target iRhom2. The clinical trial for SR-878 is scheduled to commence in the latter half of 2024.

SR-878 is crafted to inhibit various inflammatory pathways, including TNF-alpha, IL-6R, and EGFR signaling. This multi-targeted approach aims to safeguard critical TACE/ADAM17-dependent functions. Moreover, the therapy has the potential to influence immune tolerance by boosting TNFR2 signaling and expanding regulatory T-cells. In preclinical evaluations, SR-878 has demonstrated effectiveness in both laboratory settings and animal models for conditions such as rheumatoid arthritis and inflammatory bowel disease.

In June 2024, SciRhom secured Clinical Trial Authorization (CTA) to initiate a trial in Austria. This trial will focus on assessing the safety of SR-878 in healthy volunteers.

The board of directors at SciRhom is set to welcome five new members: 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.

Commenting on the advancements, SciRhom co-founder, managing director, and chief operating officer Dr. Jens Ruhe stated, “Since its inception, SciRhom has committed to rigorous scientific principles to secure a leading position in iRhom2-targeting biopharmaceuticals. This includes compiling a comprehensive IND/CTA-enabling data and CMC package and securing robust patent protection. We are now poised to accelerate our innovative and potentially groundbreaking therapeutic strategy toward clinical proof-of-concept stages and beyond, ultimately aiming to provide better treatment options for patients with autoimmune diseases.”