Dutch biotech Anaheim launches with €40M to develop pseudogout treatment
Dutch biotech Anaheim Bio, a spin-out of BioMarin-acquired Alesta Therapeutics, has launched with an oversubscribed €40 million Series A to advance ANA-1, a potential disease-modifying treatment for calcium pyrophosphate deposition disease (CPPD), commonly known as pseudogout, into clinical trials in 2027.
Why it matters: CPPD, estimated to affect 4% to 7% of adults in Europe and the U.S., is a form of arthritis caused by crystal deposits in and around the joints. It can trigger recurrent attacks of severe pain and swelling, particularly in older people. Unlike gout, where uric acid-lowering drugs can dissolve crystals, CPPD treatment focuses on relieving inflammation and symptoms.
“This is very exciting as there are no therapies which address the mechanism for CPPD,” Angelo Gaffo, a rheumatology professor and a prominent CPPD researcher at the University of Alabama at Birmingham, told European Biotechnology. “CPPD is quite prevalent but unrecognized.”
How it works: Calcium pyrophosphate crystals form when extracellular pyrophosphate (PPi) accumulates and combines with calcium. Anaheim says ANA-1, a small-molecule inhibitor, is designed to lower extracellular PPi and limit crystal formation, although it has not said whether the drug can dissolve existing deposits.
A 2025 genetic study identified ENPP1, an enzyme involved in PPi production, as a potential therapeutic target for CPPD but Anaheim has not disclosed whether ANA-1 targets this enzyme.
Backstory: U.S.-based biotech BioMarin acquired Dutch biotech Alesta on August 31 for $275 million (€237 million at the time) upfront and up to $215 million (€185 million) in milestones, primarily to obtain ALE1, now called BMN 440, an experimental treatment for the rare bone disease hypophosphatasia.
The drug is already in Phase 1/2a testing and targets the same pyrophosphate pathway. BioMarin’s R&D chief said on November 2 that BMN 440 inhibits ENPP1 to reduce PPi and improve bone mineralization.
Anaheim says it was formed from programs Alesta spun out before the acquisition. The new company, led by former Alesta CEO Ilan Ganot, is backed by former Alesta investors including Droia Ventures, Frazier Life Sciences, RTW Investments, Novartis Venture Fund, RV Invest and Thuja Capital.
Reality check: ANA-1 has yet to be tested in humans, and reducing pyrophosphate presents potential safety challenges. While excessive PPi contributes to crystal formation in joints, insufficient PPi can promote unwanted calcium deposits in blood vessels.
“My concern would be safety, as the CPPD population is older and we expect more frailty in them,” Gaffo said. “Confirming that this medication will not have safety signals from the standpoint of metabolic dysregulations will be important.”
What’s next: Anaheim expects ANA-1 to enter Phase 1 clinical testing in 2027, with its new financing providing a runway into 2028.
