Calypso Biotech Secures €20 Million Series A Financing to Advance IL-15-Targeting Biologic for Autoimmune Diseases

On February 21, 2019, VCBeat (WeChat Official Account: vcbeat) learned that Amsterdam-based Calypso Biotech announced the completion of a €20 million Series A financing round on the 20th. The round was co-led by Gilde Healthcare and INKEF Capital, with participation from Johnson & Johnson Innovation (JJDC) and M Ventures.

It is understood that Calypso Biotech, spun off from Merck Serono in 2013, is an immunotherapy biotechnology company focused on the research and development of novel biologics to address unmet medical needs in immune diseases, particularly gastrointestinal indications. The company maintains offices and laboratories in Geneva, Switzerland, and is also a resident company at JLABS @ Beerse, Johnson & Johnson Innovation’s incubator in Beerse, Belgium.

The proceeds from this financing round will be used to support the development of CALY-002, Calypso Biotech’s anti-interleukin-15 (IL-15) antibody, as well as patient studies for several autoimmune indications. IL-15 is an immune checkpoint cytokine; CALY-002 binds to and neutralizes interleukin-15 (IL-15), thereby controlling inflammation and various tissue-resident immune cells. Notably, IL-15 is considered a key factor in the survival of tissue-resident memory T cells, a population of immune cells involved in disease persistence and recurrence. Scientists at Calypso Biotech believe that targeting tissue-resident memory T cells offers significant advantages over traditional cytokine intervention approaches and can deliver unprecedented disease-modifying effects.

Calypso Biotech has chosen to develop CALY-002 for eosinophilic esophagitis (EoE) and other undisclosed autoimmune indications. EoE is a severely debilitating, immune-mediated chronic disease of the esophagus that has become a common cause of upper gastrointestinal disorders and the second leading cause of dysphagia in adults.

Alain Vicari, Co-Founder and CEO of the company, stated: “We appreciate investors’ confidence in our team. With the financial support from this financing round and the technical expertise provided by our newly recruited specialist team, we are well-positioned to advance CALY-002 toward key value-creation milestones.”

INKEF Capital is a venture capital firm headquartered in Amsterdam, focusing on investments in healthcare, technology, IT/new media, and fintech. Established in 2010 by the Dutch pension fund ABP, INKEF Capital manages a €500 million fund and is one of the largest venture capital funds in the Netherlands.

Gilde Healthcare is a specialized European healthcare investor managing two business lines: venture capital and growth capital funds, with assets under management totaling €1 billion. Gilde Healthcare focuses on leading new investments in digital health, diagnostics, medical devices, therapeutics, and healthcare services.

Johnson & Johnson Innovation (JJDC) is the venture capital subsidiary of Johnson & Johnson, which has been investing in the fields of medical devices, diagnostics, pharmaceuticals, and consumer health since 1973. JJDC aims to create opportunities that meet the strategic needs of its operating divisions while providing visibility into innovative emerging technologies, businesses, and business models.

M Ventures is Merck’s strategic corporate venture capital arm, primarily investing in innovative technologies and products. Headquartered in Amsterdam, the Netherlands, M Ventures maintains offices in the United States and Israel. The firm focuses on early-stage investments and company creation, including the formation of spin-offs leveraging the company’s scientific and technological foundations.