Bionyra Pharma announced on June 22 its launch with $165 million in funding and three licensed assets aimed at developing longer-lasting medicines for immune-mediated inflammatory diseases. The company, based in Paris and Boston, has secured exclusive global rights to two clinical programs from China-based TrueLab Biopharmaceutical. Under the agreement, TrueLab could receive up to $985 million, including an undisclosed upfront payment and a single-digit equity stake in Bionyra after the Series A financing is completed.
The licensed assets include BYN-002 (formerly TL-001), a TL1A monoclonal antibody using half-life extension technology for inflammatory bowel disease and other indications, currently being studied in a Phase 1 trial of healthy volunteers. The second asset is BYN-003 (also known as TL-003), a bispecific antibody targeting TL1A*IL-23p19 that also uses half-life extension technology; this candidate entered clinical trials in April. Bionyra has also acquired several preclinical programs from TrueLab.
In addition to the deal with TrueLab, Bionyra reached an agreement with NovaRock Biotherapeutics for global rights outside China to an IL-25 monoclonal antibody program called NBL-023 (now BYN-001). This candidate is in preclinical development for atopic dermatitis and Type 2 inflammation and was engineered using similar half-life extension science.
Bionyra was co-created by Sofinnova Partners, a European venture capital firm, and Frédéric Marrache, former vice president at Sanofi’s immunology and inflammation unit. Marrache now serves as CEO of Bionyra. "More than half of patients suffering from immune-mediated inflammatory diseases remain inadequately controlled, highlighting a significant need for better treatment options," Marrache said in a Monday news release. "Across our pipeline, we are selectively modulating immune pathways that are central drivers of disease in indications where current therapies remain insufficient. We have built Bionyra around assets and targets with clear therapeutic rationale, relevant biology and optimized clinical strategy to develop therapies that will deliver meaningful impact to people who don’t currently have good options."
The company’s oversubscribed Series A round was co-led by Jeito Capital and Sofinnova Partners with participation from Arkin Bio, Sanofi Ventures, Sixty Degree Capital, Vives Partners, and Apollo Health Ventures.
