ROTTERDAM, 17 April 2019 – Swanbridge Capital, an early-stage Life Sciences venture capital fund, today announced the closing of a Seed investment in Allero Therapeutics, a biopharmaceutical company focused on the discovery and development of novel immunotherapies. Allero Therapeutics has developed a proprietary platform technology, called the Specific Oromucosal Immunotherapy (SOMIT) platform, which enables targeted delivery of antigen-specific immunotherapies to the oromucosa (a specialized compartment of the immune system that lines the inside of the mouth). With the SOMIT platform, Allero Therapeutics aims to deliver safe and long-lasting treatments that restore immune tolerance in patients suffering from allergic and auto-immune diseases.
The seed investment, together with a recently awarded Horizon 2020 SME Instruments grant, will enable Allero Therapeutics to advance its lead programs into clinical development and explore the application of the SOMIT platform across a broader range of disease indications.
“The seed financing is intended to move several lead targets into IND-enabling studies” said Emil Pot, Allero Therapeutics’ CEO. He added: “This successful financing demonstrates the excitement around our platform and its potential to provide patient-centric solutions to the growing epidemic of allergies and auto-immune disorders”.
Dr. Poul Sørensen, Allero Therapeutics’ CSO stated, “We are excited with the commitment and support from Swanbridge Capital, which will help us to strengthen the development of our SOMIT platform for which we recently obtained early preclinical proof of principle”.
Dr. Cillian King, Investment Manager at Swanbridge Capital, was elected to join the Board of Allero Therapeutics following the transaction. Commenting on today’s announcement Cillian King said: “Allero Therapeutics brings together a strong management team and an exciting new technology. With the growing incidence of immune-mediated diseases and a lack of curative treatment options, the company is well-positioned to profoundly impact patient outcomes and shareholder value. We are very excited to support Allero Therapeutics on its journey to become a world class biotech company”.
About Allero Therapeutics
Allero Therapeutics is a biopharmaceutical company developing first-in-class therapies for patients suffering from immune-mediated diseases. The company has developed a proprietary platform technology called the Specific Oromucosal Immunotherapy (SOMIT) platform that aims to restore immune tolerance via the targeted delivery of antigen-specific immunotherapies. The SOMIT platform defines a technology that is broadly applicable to a range of clinical indications with profound unmet medical need, such as allergies and auto-immune diseases for which there are currently no EMA/FDA-approved treatments available. For more information: www.allerotherapeutics.com
About Swanbridge Capital
Swanbridge Capital is an early-stage venture capital fund located in Rotterdam, the Netherlands. Founded in 2016, the fund invests in startup companies that are developing novel therapeutics, diagnostics or medical devices. Swanbridge Capital was founded to support and strengthen Rotterdam’s fast-growing Life Sciences community. The limited partners of the fund are the Erasmus Medical Center (Erasmus MC), the City Council of Rotterdam (Gemeente Rotterdam), Van Herk Ventures, and Dharminder Chahal. For more information: www.swanbridgecapital.nl