Step Pharma, a Paris, France-based developer of a novel class of oral nucleotide synthesis inhibitors targeting CTPS1 for the improved treatment of a range of autoimmune diseases, closed a €14.5m Series A financing.
Pontifax joined existing investors led by Kurma Partners, and including Bpifrance (Fonds Biothérapies Innovantes et Maladies Rares), Inserm Transfert Initiative, Idinvest, Sygnature Discovery and the Imagine Institute in an €8.6m second closing of the round.
Founded in June 2014 by Geoffroy de Ribains, CEO, Step Pharma is focused on the development of a novel class of oral nucleotide synthesis inhibitors targeting CTPS1 for the improved treatment of a range of autoimmune diseases.
The company has identified several series of CTPS1 inhibitors, with the most advanced series currently undergoing lead optimization.
The company intends to use the funds to advance its novel class of oral immunomodulators targeting cytidine triphosphate synthase 1 (CTPS1) to clinical studies. CTPS1 is a novel target discovered at the Imagine Institute (Paris, France) in rare genetic disease patients exhibiting deficiency in this enzyme involved in CTP nucleotide production.