Sibylla Biotech, a Verona, Italy-based biotechnology company, raised €23M in Series A funding.
The round was led by V-Bio Ventures with participation from Seroba Life Sciences, 3B Future Health Fund, Claris Ventures, CDP Venture Capital, Evolution Fund, VI Partners, Indaco Venture Partners, Vertis SGR. 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 Sibylla’s Board of Directors.
The company intends to use the capital for 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. The proceeds will allow the company to build out its pipeline of therapeutics by exploiting the protein folding simulation platform, as well as to further expand the potentiality of its technology.
Led by CEO Lidia Pieri, Sibylla Biotech designs Folding Interfering Degraders (FIDs), classical small molecules that target specific proteins, including proteins that lack druggable pockets in their native state, that can address a range of therapeutic areas. The company’s lead candidate degrades Cyclin D1, a protein that is amplified and overexpressed in a range of cancers and which is currently considered an undruggable target.
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.
FinSMEs
04/10/2022