Alys Pharmaceuticals launches in Geneva with USD 100 million investment

20 February 2024 13:38

Greater Geneva Bern

Geneva - A newly established biotech entity, Alys Pharmaceuticals, merges the power of six Medicxi biotech firms to spearhead innovation in immuno-dermatology.

Alys Pharmaceuticals emerged from the consolidation of Aldena Therapeutics, Granular Therapeutics, Klirna Biotech—with substantial operations and staff in Switzerland—Graegis Pharmaceuticals, Nira Biosciences, and Vimela Therapeutics. This strategic amalgamation furnishes Alys with 14 active programs poised to deliver breakthroughs in dermatology, particularly in areas like atopic dermatitis, vitiligo, and more.

This biotech powerhouse not only boasts a formidable pipeline but is also keen on expanding its portfolio through innovative platforms covering inflammatory and autoimmune diseases, dermatology supportive care for cancer patients, and rare dermatoses. Over the next three years, Alys aims to achieve seven to ten clinical Proof-of-Concept readouts, with at least one program progressing to registrational studies.

With a substantial USD 100 million investment from Medicxi, Alys, straddling Boston and Geneva, is set to redefine dermatological treatment across several conditions. A significant portion of the company’s operations will unfold in Switzerland, incorporating a wide range of biotech work from R&D to regulatory affairs. Aldena Therapeutics, an Alys affiliate, collaborates with EMPA under an Innosuisse grant to advance core technologies. Moreover, Alys’s Swiss team, expected to expand as programs advance, is bolstered by local consultants and R&D service companies.

The formation of Alys is the brainchild of Medicxi, alongside dermatology luminaries like John Harris, Brian Kim, and Nobel Prize laureate Craig Mello, among others.

Francesco De Rubertis, a partner at Medicxi and the incoming Chairman of Alys, lauded the merger, highlighting the strategic advantage of pooling diverse assets and easing capital access. This venture not only signifies a new chapter in immuno-dermatology but also reinforces Geneva’s position as a  global biotech hub. ggba

Swiss Pavilion Digital

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