MIG Capital Co-Leads €63 Million Series A Round for SciRhom

MIG Capital, a leading venture capital firm in Germany, has announced its co-leadership in a €63 million Series A financing round for the bio-pharmaceutical company SciRhom GmbH. Other members of the investor syndicate include Andera Partners, Kurma Partners, Hadean Ventures, and Wellington Partners, with participation from Bayern Kapital and existing investors such as High-Tech Gründerfonds and PhiFund Ventures.

The significant investment will enable SciRhom to advance its lead program, particularly the development of iRhom2 antibodies for autoimmune treatments. The funds will also be allocated towards broadening the therapeutic potential of their proprietary strategy. The first clinical study for SR-878, an iRhom2-targeting antibody, is slated to commence in the second half of 2024.

SciRhom aims to redefine treatments for autoimmune disorders by targeting TACE/ADAM17 through iRhom2. This approach has the potential to influence multiple inflammation-related pathways, promising considerable therapeutic benefits. The preclinical data supporting these advancements are robust, indicating readiness for Phase 1 clinical trials.