Mysthera Therapeutics Launches to Develop First-in-Class Autoimmune Disease Therapies
Seed Capital from Forty51 Ventures to Advance Pipeline of Pan-PIM Kinase Inhibitors
Basel, Switzerland, August 21, 2023 – Mysthera Therapeutics AG, a company developing first-in-class, oral therapeutics to treat complex autoimmune diseases, launched today with $3.5 million seed capital from founding investor Forty51 Ventures. The capital will be used to advance its portfolio of pre-clinical stage, pan-PIM kinase inhibitors to uniquely modulate multi-lineage immune cell functions.
PIM kinases are gateway kinases in multiple immune cell lineages (including B and T effector cells) driving excessive inflammation. Elevated PIM kinase may further contribute to the formation and maintenance of tertiary lymphoid structures (TLS) which are associated with disease severity and progression.
Autoimmune diseases impact over 23 million in US alone. Despite recent progress and novel treatment options, significant unmet needs remain due to poor response rates and adverse safety profiles of currently available treatment medicines.
Mysthera’s founding management team and board of directors brings considerable experience, leadership and a successful track record across research and development.
“Leveraging our deep expertise in PIM kinase and immunology, we are pursuing a highly differentiated approach to tackle complex autoimmune diseases. We believe this will result in new treatments to change the lives of patients globally”, said Darren Cunningham, co-Founder and Chief Executive Officer at Mysthera Therapeutics.
“PIM inhibition most critically hits effector B and T cells at the site of inflammation and inhibits their activation” added Dr. Stefan Haak, co-Founder and SVP R&D at Mysthera Therapeutics. “Our approach is uniquely positioned to also silence the essential cross-talk between these cells, impeding the pathogenic TLS formation associated with more erosive disease.”
About Mysthera Therapeutics
Mysthera Therapeutics AG was founded in Basel, Switzerland by Forty51 Ventures in 2023. Pursuing a first-in-class therapeutic approach, Mysthera plans to reshape the treatment landscape for autoimmune disease. PIM kinase inhibition uniquely and selectively modulates immune cell function in multiple lineages associated with complex disease. The company’s pipeline includes pre-clinical stage, PIM kinase inhibitors in-licensed from Inflection Biosciences Ltd. For more information, please visit www.mystheratx.com
About Forty51 Ventures
Forty51 Ventures is a Basel-based venture capital firm with its core strategy focused on company formation and early-stage investments in biotech with geographic emphasis on Switzerland, France and Germany. Forty51 Ventures leads and co-leads early financing rounds (Seed and Series A) of its growing portfolio which includes both academia and Pharma/Biotech spin-outs.