Arxx merges with Oxitope and raises EUR 75 million in a Series A

The Arxx Team: Berte Poulsson– VP Quality Assurance and Regulatory,  Sylvia Vetrhus– VP Clinical Research and Jonas Hallén – Chief Medical Officer

Published: Wed Jan 24 2024

Arxx Therapeutics and Oxitope Pharma today announced their merger to form Calluna Pharma Inc. The newly formed Calluna has raised EUR 75 million in a series A financing from Oxitope and Arxx’s existing lead investors, Forbion, Sarsia, p53, and Investinor.

The new company will combine expertise in the field of innate immunity, based on damage-associated molecular patterns (DAMPs), with a pipeline of selective antibodies that target inflammatory and fibrotic indications, including several first-in-class clinical candidates.

Calluna has four promising therapies in its pipeline. Its clinical stage lead program, CAL101, is a monoclonal antibody that neutralizes the bioactivity of S100A4, a DAMP protein implicated in serious and life-threatening diseases such as idiopathic pulmonary fibrosis, chronic kidney disease, systemic sclerosis, rheumatoid arthritis, and severe (steroid insensitive) asthma. Of particular interest is another of its programs, CAL102, a monoclonal antibody neutralizing oxidized phospholipids – these play a significant role in onset and progression of a wide range of acute and chronic inflammatory and fibrotic diseases. CAL102 demonstrated efficacy in several preclinical disease models.

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