The money will be used for the GMP production and further clinical studies of its lead candidate SM101, a recombinant, soluble, non-glycosylated version of the Fc gamma receptor IIb. SM101, which has been granted orphan drug designation in the European Union and in the US, has already entered Phase Ib/IIa clinical studies in Primary Immune Thrombocytopenia (ITP), with interim results anticipated for next year. In addition, the company plans to initiate a Phase IIa study in Systemic Lupus Erythematosus (SLE) mid next year.
Moreover, SuppreMol will explore the therapeutic potential of SM101 in Lupus Nephritis, a subcategory of this autoimmune disease affecting primarily the kidneys, and evaluate the compound in animal models for the treatment of Chronic Obstructive Pulmonary Disease (COPD). Last not least, the funds will be used for the preclinical development of an anti-FcgRIIb monoclonal antibody, which, due to the different properties of this molecule compared to SM101, may have beneficial therapeutic potential in certain autoimmune diseases.
The C round was led by MIG AG with BioMedPartners AG as co-lead. The other existing investors Santo Holding GmbH, KfW Mittelstandsbank, Bayern Kapital GmbH and Max-Planck-Gesellschaft also participated in the round which was joined by FCP Biotech Holding GmbH as new investor.