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Hadean Ventures co-leads investment into SciRhom

Hadean Ventures co-led the EUR 63 million Series A financing round, together with a consortium of international investors.

In conjunction with this investment, Georgina Askeland, Senior Associate at Hadean Ventures, will join SciRhom’s board of directors.

“SciRhom has a unique approach that ticks all the boxes in I&I. In one stroke, their highly selective iRhom2 antibody targets a central pathway to cytokine release, shutting down multiple pathological inflammatory pathways while simultaneously promoting immune tolerance pathways. This could have transformative potential for patients with inflammatory and autoimmune diseases and we are excited to support the company to validate this clinically,” says Askeland.

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The round was co-led by Andera Partners, Kurma Partners, Hadean Ventures, MIG Capital, Wellington Partners, with participation from new investor Bayern Kapital and existing investors.

SciRhom

The Munich-based company will use the funds to drive the lead program toward clinical proof-of-concept to address the significant unmet needs in autoimmune diseases, it states.

“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,” says Jan Poth, Managing Director & CEO of SciRhom.

SciRhom was founded with the mission to provide a new paradigm of treatment for autoimmune diseases and potentially other indications by addressing TACE/ADAM17, a master switch for various disease-relevant signaling pathways, via iRhom2. 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, promote beneficial TNFR2 signaling and T-reg expansion, while also preserving other vital functions dependent on TACE/ADAM17.

A first clinical study evaluating SR-878, a highly specific monoclonal antibody for iRhom2, is expected to start dosing in the second half of 2024.

Photo of Georgina Askeland, Senior Associate: Hadean Ventures

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