Ysios Capital invests in Cytoki Pharma
Biotech company Cytoki Pharma (Copenhagen, Denmark) develops new proteins based on interleukin 22 (IL-22) for the treatment of epithelial lesions
Cytoki Pharma ApS, a private biotech company incorporated in Copenhagen, Denmark, today announced a $45 million series A financing led by existing investor Lundbeckfonden Emerge (Denmark) together with Seventure Partners (France), +ND Capital (Switzerland)and Ysios Capital (Spain).
Cytoki Pharma is advancing a long-acting Interleukin-22 (IL-22) variant to clinical testing with initial focus on Inflammatory Bowel Disease. The lead compound is selected from a full program of therapeutic IL-22 variants based on an exclusive license from Novo Nordisk A/S. IL-22-based therapeutics have immense potential in treating diseases characterized by injuries to certain tissues in the body of so called “epithelial” origin. IL-22 has proven to be attractive for treatment of Inflammatory Bowel Disease (IBD), where damage to the intestinal barrier remains the biggest unaddressed pathology of the disease. The Cytoki IL-22 program is based on a highly validated lipidation technology for generating long-acting protein therapeutics and next-generation drug formats – here applied to an emerging drug class that has demonstrated strong initial clinical promise. The proceeds of the $45 million (€38 million, DKK283 million) financing will fund the development of the lead program through Phase 1 and Phase 2a clinical testing in Inflammatory Bowel Disease and explore the therapeutic potential in other diseases characterized by injury to epithelial tissues in various organs.
Dr. Rasmus Jorgensen, founder & CEO: “Our IL-22 program holds the promise of a best-in-class therapeutic in the emerging IL-22 based drug class. We are extremely pleased with the backing from a syndicate of top international investors, which will allow us to advance our programs and make a difference in areas of severe human disease.”
Dr. Christian Elling, Managing Partner of Lundbeckfonden Emerge, and Chairman of the Cytoki PharmaBoard: "Through our initial early investment we have collaborated with the founder team in creating an exciting new company that is ready for scaling and clinical testing. We warmly welcome the new investors in the company and look forward to our continued collaboration with the team, helping them progress the programs to address important unmet needs of patients."
Isabelle de Cremoux, CEO and Managing Partner of Seventure Partners: “Cytoki is pursuing the compelling rationale that epithelial layers are key to controlling pathogenic triggers and maintaining homeostasis of
tissues, the immune system and the microbiome.” C1 - Public Natixis Dr. Dani Bach, Partner at +ND Capital, and director of Cytoki Pharma Board:” Cytoki’s IL-22 holds potential to change the way we treat IBD. Whereas current treatments may end up in mucosal healing after long time in a subset of patients, IL-22 addresses mucosal healing first, being the first approach to target the core of the problem.”
Karen Wagner, Managing Partner of Ysios Capital and director of Cytoki Pharma Board: “The proceeds from this round will finance first-in-human clinical trials to validate the improved pharmacokinetic properties of Cytoki’s unique long-acting IL-22, as well as proof-of-concept trials in IBD patients. We are very excited to support the development of Cytoki’s breakthrough therapeutic.”
About Inflammatory Bowel Disease (IBD)
IBD comprises diseases characterized by chronic intestinal inflammation and tissue damage, with Ulcerative Colitis and Crohn’s Disease being the principal types of IBD. The prevalence is highest in the western world where 0.5 - 1% of the population is affected by the disease. IBD is currently treated medically with immunosuppressive or immunomodulatory treatments, or surgical intervention if not sufficiently controlled. There is a large remaining unmet medical need in IBD, especially for treatments addressing the intestinal barrier damage associated with the disease.