Calypso Biotech cash in €20M Series A financing

Calypso Biotech BV (Amsterdam/Geneva), a spin-out of Merck-Serono, which became company in residence at JLABS in Beerse, Belgium, said it will use the proceeds to push its anti-interleukin-15 (IL-15) antibody CALY-002 to Phase Ia studies in several autoimmune indications. IL-15 is an immune checkpoint cytokine that controls inflammation as well as survival of tissue-resident memory T cells, a population of immune cells that has been demonstrated to be involved in disease maintenance and recurrence.

Calypso Biotech has chosen to develop CALY-002 in Eosinophilic Esophagitis (EoE) as well as in other undisclosed auto-immune indications. EoE is a immune-related chronic disease of the esophagus that is the second leading cause of dysphagia in adults. EoE has emerged as a frequent and significant cause of upper gastrointestinal morbidity particularly associated with important quality of life impairment and significant financial healthcare burden.

CALY-002 has secured Orphan Drug Designation status from the European Medicines and Food & Drug Administration agencies for EoE. This week, Calypso announced that it joined AGC Biologics as CDMO for manufacture of clinical lots of CALY-002.

Upon the agreement, Arthur Franken from Gilde Healthcare will join Fiona MacLaughlin (Inkef Capital), Jeanne Bolger (JJDC) and Jasper Bos (M Ventures) on the Board of Directors. Calypso Biotech is also announcing major strengthening of its team. Bernard Coulie, current president and CEO of Pliant Therapeutics, will be appointed as independent Chairman of the Board. Together with Alexandre LeBeaut, Executive Vice-President and CSO of Ipsen and current independent Director of Calypso Biotech, they will contribute to develop its strategic vision and corporate success. Prof. Bart Lambrecht, from the VIB-UGent Center for Inflammation Research (Belgium), a leading translational immunology expert, will join Calypso Biotech Scientific Advisory Board. Dr. Josephin-Beate Holz (ex Ablynx NV), Dr Greg Elson (ex Glenmark, Novimmune), Dr Susana Salgado (ex Novimmune), and Duc Tran (ex Prexton Therapeutics, Preglem, Pfizer) will join as medical, manufacturing, non-clinical development and strategic planning advisors, respectively.