Sibylla Biotech Raises €23 Million Series A to Advance Protein Degradation by Folding Interference Pipeline and Expand Technology Platform
Summary
VERONA, Italy--(BUSINESS WIRE)-- Sibylla Biotech today announced the successful close of its 23 million Series A financing round to fund the further development of its Pharmacological Protein Inactivation by Folding Intermediate Targeting (PPI-FIT) approach, which provides access to a new class of pharmacological targets that transiently appear during the process of protein folding, and to advance its proprietary pipeline programs through preclinical evaluation. Concurrent with the close of the fundraising, Ward Capoen from V-Bio, Bruno Montanari from Seroba, Ciro Spedaliere from Claris Ventures, and Marianne Bjordal from 3B Future Health Fund will join Sibyllas Board of Directors.Sibylla Biotech is developing small molecule degraders designed to interfere with the folding process of a selected protein by binding to the folding intermediate states, bringing a highly differentiated approach to the protein degradation field that can access a range of targets previously considered undruggable, commented Lidia Pieri, PhD, Co-Founder and Chief Executive Officer of Sibylla Biotech. We have gained the support of a strong group of expert investors and the capital to advance our small molecule pipeline, expand our protein folding simulation technology platform and bring additional expertise to our team. We are excited to support Sibylla Biotechs vision to transform the protein degradation landscape, added Ward Capoen, PhD, Partner at V-Bio Ventures.Lidia and her team came together from a group of cross-disciplinary experts with the goal of developing the PPI-FIT technology. The company is developing a proprietary pipeline of small molecule folding interfering degraders (FIDs) that can address a range of therapeutic areas.About Sibylla Biotechs Foundation Sibylla Biotech was established as a spin-off company based on a multidisciplinary scientific collaboration between the Italian National Institute for Nuclear Physics, the University of Trento and the University of Perugia, which together co-funded the collaboration with the Telethon Foundation ETS.