A Paris-based biotech company developing products for auto-immune diseases, announced today (June 30) that it has almost doubled its initial funding from two companies.
The initial funding for Ermium Therapeutics of €6.3 million ($6.57 million) now stands at €12.3 million ($12.83 million) and has been supplied by Kurma Partners and Fountain Healthcare Partners.
Ermium discovers and develops orally-available small molecules aimed at addressing a range of chronic auto-immune diseases, which affect millions of people worldwide, and particularly type I interferon-mediated diseases such as systemic lupus erythematosus (SLE), dermatomyositis, Sjögren syndrome, and monogenic interferonopathies.
The company’s compounds are intended to be first-in-class acting on a G protein-coupled receptor (GPCR), namely the CXCR4 chemokine receptor, via a totally novel mechanism of action.
The main property of Ermium CXCR4-targeted functionally selective immunomodulators is to potently abolish the release of type I interferons by immune cells, and also other key inflammatory cytokines.
The €6 million proceeds will be used to reach the milestones of drug candidate selection,
The post Funding doubled for company working on breakthrough auto-immune disease therapeutics appeared first on Labiotech.eu.
© Labiotech UG and Labiotech.eu. Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Labiotech UG and Labiotech.eu with appropriate and specific direction to the original content.