Orikine Bio, a biotech company developing a novel proprietary platform for cytokine-based therapies for autoimmune and inflammatory diseases, announces today the successful closing of a €5.5m seed financing that will support the company to advance candidates through pre-clinical development. Asabys Partners, Barcelona-based VC firm focused on healthcare innovation investing from its fund Sabadell Asabys II, joins AdBio Partners, French life sciences venture capital firm and initial investor.
Orikine Bio is a spin-off from the Centre for Genomic Regulation (CRG) in Barcelona and was co-founded by Dr. Luis Serrano, Dr. Ariadna Montero, Dr. Javier Delgado, Dr. Alejo Chorny and AdBio Partners in 2022. The company’s unique synthetic biology platform delivers optimized and novel engineered cytokines called Foldikines©. Cytokines are proteins that are produced by the immune system and act as soluble messengers that control the entire range of immune responses, including their initiation, type, potency, and duration. Thus, dysregulated cytokine signaling triggers a wide variety of inflammatory and autoimmune diseases, allergies, fibrosis, and cancer.
Orikine Bio’s Foldikines© have unique biological activities that are not available for natural cytokines, making them highly attractive as new drugs for therapeutic interventions. Currently, the company is validating the first Foldikine© candidates, which will advance to the pre-clinical stage with this new funding. The initial focus of the company is to advance these improved cytokines into clinical development for new therapies targeting autoimmune and inflammatory diseases. However, the versatility of the platform developed by Dr. Luis Serrano and his team will allow the development of new drugs for a wide range of immune-based diseases.
Luis Serrano, co-founder of Orikine Bio and Director of the CRG, mentions: “Orikine Bio is the fifth spin-off launched by the Centre for Genomic Regulation in a short period of time, demonstrating that curiosity-driven research is a critical source for new idea generation and solutions for patients. The creation of this company has been possible thanks to the development of cutting-edge computational and experimental tools combined with decades of expertise in biochemistry”. Dr. Ariadna Montero, co-founder and Head of Biology at Orikine Bio, adds: “Protein design is a highly-precise task requiring accurate algorithms to generate reliable results. Our unique computational approach makes the process of protein design highly flexible and adaptable to almost any target, speeding up the development process for new drugs.”
Sylvain Sachot, Partner at Asabys Partners, states “Orikine Bio’s uniqueness resides in the company’s profound understanding of the immunological processes underlying autoimmune and inflammatory diseases and its ability to modulate these anomalies. The company is targeting a large medical need, and we look forward to working with the management in developing and bringing new immune modulators to the market”.
“Orikine Bio’s Foldikines© could become blockbusters drugs in immunology and this immediately convinced us of the potential of the project. We were highly motivated to cofound the company and shape the initial business plan. We are delighted to welcome Asabys Partners in the Seed Financing, all ingredients are in place for Orikine Bio to become a leader in its space” explains Clement Bertholet, MsC, Partner at AdBio.
Alejo Chorny, Co-founder and CEO of Orikine Bio, adds “We are delighted to announce the successful completion of our seed financing round, a significant milestone for our biotech company focused on engineered cytokines for immune-mediated diseases. This funding injection not only validates the tremendous potential of our approach but also provides us with the resources to advance our groundbreaking work. We are grateful for the support and confidence shown by our investors and remain committed to delivering transformative therapies that have the power to reshape the lives of patients battling immune-mediated diseases worldwide”.
About Orikine Bio
Orikine Bio is a pioneering biotech company dedicated to advancing the field of engineered cytokines with unparalleled biological features for the treatment of immune-mediated diseases. Orikine core mission is to unlock the untapped potential of cytokines, enabling the development of transformative therapies that have the power to reshape the lives of patients around the globe. www.orikine.bio
About Asabys Partners
Asabys Partners is a venture capital firm specialized in the healthcare sector, founded in 2018 by Josep Ll. Sanfeliu and Clara Campàs, participated by Alantra and with the support of Banc Sabadell as anchor investor. With close to €217 million in AUM and 14 portfolio companies (+1 exit), Asabys invests in highly innovative and disruptive companies covering unmet medical needs in the biopharma and healthtech verticals. The firm’s investment in the company comes from its vehicles Sabadell Asabys Health Innovation Investments II, FCR and Sabadell Asabys Health Innovation Investments 2B, SCR SA. This operation benefits from the support from the European Union under the InvestEU Fund. www.asabys.com
About AdBio Partners
AdBio Partners (previously Advent France Biotechnology) is an AMF-regulated (the French financial market authority) company that invests in a range of sectors within life sciences – specifically in therapeutics-oriented projects. Its unique strategy combines early-stage investments in promising enterprises and strong entrepreneurial support to strengthen the company’s growth. Created in 2016, AdBio Partners has made 22 European investments in France, Belgium, Spain and Ireland – with two funds: AFB Seed Fund I and AFB FII. AdBio Partners has developed strong relationships within the European innovation ecosystem; as a result, it has attracted international VC syndicates to its portfolio companies. The operational team includes investment professionals with long-standing track records in entrepreneurial ventures, combined with strong scientific, medical and operational expertise. www.adbio.partners