Funding doubled for company working on breakthrough auto-immune disease therapeutics

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.

Inflammatory cytokines

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.

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