France-based Bionyra Pharma, a clinical-stage biopharmaceutical company developing mono and multispecific antibodies for immune-mediated inflammatory diseases, has launched with an oversubscribed USD 165 million Series A financing round. The funding positions the company to advance a pipeline of antibodies with half-life extension engineering across atopic dermatitis and inflammatory bowel disease, two indications where a substantial proportion of patients continue to fail or cycle through existing therapies.
The 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. Sofinnova Partners previously provided seed financing and co-founded the company alongside Frédéric Marrache, MD, PhD, MBA, who serves as CEO. The Jeito Capital Sofinnova Partners co-lead reflects both investors' focus on European clinical-stage immunology, with Sofinnova carrying forward a founding relationship and Jeito deploying capital from its EUR 1.6 billion asset base.
Board seats will be taken by Mehdi Ainouche of Jeito Capital, Anta Gkelou of Sofinnova Partners, Avital Adler of Arkin Bio, and Laia Crespo of Sanofi Ventures. The company has not specified a precise allocation of proceeds across programs, but the financing is intended to advance its clinical and IND-stage pipeline toward proof-of-concept data.
Pipeline licensed from TrueLab and NovaRock
The Bionyra Pharma Series A funding supports three pipeline assets, all incorporating half-life extension engineering designed to improve dosing convenience and pharmacokinetic durability.
The lead program, BYN-002 (TL-001), is a humanized IgG1 monoclonal antibody targeting TL1A, a cytokine implicated in IBD and other immune-mediated inflammatory diseases. TL1A blockade inhibits the interaction between the cytokine and its receptor, a pathway with established involvement in intestinal inflammation. A Phase I study in healthy subjects, including single and multiple ascending dose cohorts, is fully enrolled. BYN-002 was licensed from China-based TrueLab Biopharmaceutical under an agreement valued at up to USD 985 million in total consideration, including upfront, development, regulatory, and commercial milestones, plus tiered royalties. Bionyra holds exclusive worldwide rights outside Greater China; TrueLab retains a single-digit equity stake in Bionyra following the Series A close.
The second clinical asset, BYN-003 (TL-003), is a TL1A×IL-23p19 bispecific antibody also licensed from TrueLab, designed to simultaneously block two validated inflammatory pathways. Dual targeting of TL1A and IL-23 is intended to address disease drivers across IBD and related indications where either pathway alone may be insufficient for durable remission. A Phase I study in Australia is underway, with enrollment initiated in 2026.
A third asset, BYN-001 (NBL-023), is an IL-25 monoclonal antibody with half-life extension technology licensed from NovaRock Biotherapeutics, targeting atopic dermatitis and Type 2 inflammation. This program is at IND stage. IL-25 drives Type 2 inflammatory responses and represents a mechanistically distinct approach from the IL-4/IL-13 axis targeted by approved dupilumab.