The upsized and oversubscribed Series A financing round will be used to drive the lead development program toward clinical proof-of-concept and to broaden the therapeutic value of the proprietary iRhom2 strategy. Munich, Germany, July 9, 2024 – SciRhom GmbH, a biopharmaceutical company pioneering the development of first-in-class therapeutic iRhom2 antibodies, announced today the closing of a EUR 63 million (USD 70 million) Series A financing round. The round was co-led by Andera Partners, Kurma Partners, Hadean Ventures, MIG Capital, and Wellington Partners, with participation from new investor Bayern Kapital and existing investors including High-Tech Gründerfonds (HTGF) and PhiFund Ventures from New York, USA. 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 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. ...