Though he is trained as a gastroenterologist and scientist, Frédéric Marrache, MD, PhD, has always had something of an entrepreneurial itch. Following his post-doctoral program and a stint in management consulting, he made his way to Sanofi where he would work on early- to mid-stage drug development programs focused on immune-mediated diseases.
“This was right around the time when Sanofi, together with Regeneron, was finalizing the development of Dupixent,” a prescription biologic injection used to treat multiple inflammatory conditions, he told GEN. Those experiences gave him “meaningful insights” into patient care as well as about “how to develop therapies in this space.”
One of those insights was the scale of the unmet medical need in the immune-driven inflammatory disease space. Though some large pharma companies have developed products for the space already, “I had a few insights about what could be differentiated,” he said. That led him to engage with a team at Sofinnova Partners in early 2025. “I came in with my insights about patient needs, immunology, and target selection, and [my] view on right and wrong assets,” he said. “They came with experience in building companies” and “we mapped out the entire asset space specifically on the target and pathway of interest.”
Those discussions led to the launch of Bionyra Pharma, a clinical-stage biopharmaceutical company that is developing next-generation biologics for severe immunological and inflammatory diseases. The company emerged from stealth this week after raising $165 million in an oversubscribed Series A. The round was co-led by Jeito Capital and Sofinnova Partners with participation from Arkin Bio, Sanofi Ventures, Sixty Degree Capital, Vives Partners and Apollo Health Ventures.
Marrache serves as the co-founder and CEO of the company. In addition to the financing, Mehdi Ainouche, partner at Jeito Capital; Anta Gkelou, partner at Sofinnova Partners; Avital Adler, principal at Arkin Bio; and Laia Crespo, partner at Sanofi Ventures, will join Bionyra’s board of directors.
“When we co-founded Bionyra with Frédéric, our conviction in both the company and his leadership was grounded in his deep expertise in immune and inflammatory diseases,” said Sofinnova’s Gkelou. “Looking ahead, we are focused on advancing these programs with the aim of bringing meaningful new treatment options to patients.”
Specifically, the funds will support Bionyra’s efforts to advance mono and multispecific antibodies for various inflammatory conditions including atopic dermatitis and inflammatory bowel disease (IBD).
Right out of the gate, Bionyra is launching a pipeline of three clinical and near-clinical anti-inflammatory therapies, some of which are already in clinical trials. The company’s first asset, BYN-002 is a TL1A monoclonal antibody with the potential to treat IBD and other TL1A-relevant indications. This therapy is currently in a fully-enrolled Phase I study in healthy people. Its next candidate, BYN-003, is a TL1A*IL-23p19 bispecific antibody that is also in Phase I testing. Both assets have been improved with half-life extension (HLE) engineering to maximize efficacy and patient benefit.
Generally speaking, “TL1A is a game changer target right now in [immunology and inflammation] with great results in inflammatory disease,” he said. However, it is likely that this target will be relevant across multiple indications. To that end, Bionyra is keeping its options open in terms of what it will target with its TL1A assets. “Whether it’s going to be in the inflammatory bowel disease space, whether we go for another indication space or whether we decide to develop it in combination in any of these indications, that’s an option,” he said.
For now, the focus is on validating the safety and efficacy of both therapies in healthy volunteers. “That’s especially a question around the bispecific antibody” because there will likely be questions around the immunogenicity, he noted. “Our advantage here is that our bispecific is built on the backbone of our monospecific, so at least we have some level of early validation here, and we hope to present some results soon.”
A third candidate, BYN-001, is an IL-25 monoclonal antibody that has also benefited from HLE technology. It is currently in the IND-stage for atopic dermatitis and type 2 inflammation. While there are several assets in development that aim to target type 2 inflammation, once all of the me-too drugs are excluded, the field becomes narrower, Marrache said while explaining the rationale for choosing this particular drug candidate for Bionyra’s portfolio. “IL-25 has been known to be a strong driver of type 2 inflammation for some time,” he said.
Furthermore, some recently published early clinical data from a competitor, who are developing their own asset for IL-25, “clearly validated the pathway and suggested potential for differentiation.” At the time, Bionyra was already exploring the same target space so “we were able to move very quickly” and find what, Marrache believes, is the “most potent IL-25 antibody out there” with the “longest half life.”
Two of the assets BYN-002 and BYN-003 were licensed from TrueLab Biopharmaceutical. Under the terms of the agreement Bionyra was granted exclusive worldwide rights, excluding Greater China, to research, develop, manufacture and commercialize both therapies. TrueLab is eligible to receive up to $985 million in total consideration related to both assets, including the upfront payment as well as development, regulatory, and commercial milestone payments. The agreement also includes tiered royalties on future net sales. In addition, TrueLab has a single-digit equity stake in Bionyra Pharma following completion of its Series A financing.
For its part, BYN-001 was licensed from NovaRock Biotherapeutics. Bionyra is also progressing additional preclinical assets including some from TrueLab. It will support these efforts with some of the funds from the Series A.
