SciRhom secures $70m in Series A Funding

In a Series A fundraising round, the German biopharmaceutical startup SciRhom raised €63 million ($70 million) to accelerate its research and development of iRhom2-targeting medicines for autoimmune illnesses.

The funding will hasten the advancement of SciRhom’s autoimmune disease-focused treatment approach.

A clinical study for its front-runner, SR-878, a monoclonal antibody that targets iRhom2, is scheduled to begin in the latter part of 2024. The tool showed promise in rheumatoid arthritis and inflammatory bowel illness in vitro and in animal models throughout preclinical research.

SciRhom co-founder, managing director and chief operating officer Dr Jens Ruhe stated: “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 [chemistry, manufacturing and controls] package and strong patent protection.’’

They continued: “Now is the time to shift gears and accelerate our novel and potentially groundbreaking therapeutic strategy toward clinical proof-of-concept and beyond to reach patients in need of better autoimmune treatments.”