Forty51 Ventures invests to found Mysthera Therapeutics
Mysthera Therapeutics AG has been founded in Basel. Forty51 Ventures, a venture capital firm also based in Basel, has provided 3.5 million US dollars in seed funding. This is intended to further develop the Mysthera pipeline of oral therapeutics aimed at treating autoimmune diseases.
The Basel-based venture capital firm Forty51 Ventures has invested 3.5 million US dollars in Mysthera Therapeutics. This seed capital was used to officially found Mysthera on August 21 in Basel. In so doing, the start-up investor is promoting the further development of Mysthera’s oral therapeutics for the treatment of complex autoimmune diseases, which are currently in the preclinical phase, further details of which can be found in a press release.
Uniquely positioned approach
The portfolio of the newly founded biotech company comprises what are known as pan-PIM kinase inhibitors. PIM kinases are responsible for causing excessive inflammation. In addition, elevated levels of PIM kinases can contribute to the formation and maintenance of tertiary lymphoid structures (TLS). “The PIM inhibition particularly affects the B and T effector cells at the site of inflammation and impedes their activation”, explains Stefan Haak, co-founder and Senior Vice President for Research and Development. “Our approach is uniquely positioned to prevent these cells from communicating, which counteracts pathogenic TLS formation”, he adds.
In the USA alone, more than 23 million people are affected by autoimmune diseases, the press release explains. There is still a high unmet need in this area. “Our profound expertise in the fields of PIM kinase and immunology allows us to pursue a highly differentiated approach in our efforts to combat complex autoimmune diseases”, comments Darren Cunningham, CEO and co-founder of Mysthera, in the press release. “We are confident that this will lead to new treatments to transform the lives of patients around the world”, he concludes.