Orikine Bio secures €800k in innovation research funding to advance groundbreaking autoimmune disease therapy

• Project has total funding of €1.5M, of which €800k has been allocated to Orikine
• Proceeds will enable Orikine to advance preclinical proof-of-concept for Foldikine^TM ORK-1, drug candidate for autoimmune/inflammatory diseases
• Selection in funding program further validates approach of Orikine’s breakthrough Foldikine technology platform, precision-engineered bifunctional cytokine therapies, to discover new treatment possibilities that address shortcomings in traditional therapies

Barcelona, Spain, December 3, 2024 — Orikine Bio, a pioneering biopharmaceutical company focused on the discovery, research and development of precision-engineered bi-specific cytokine therapies for the treatment of severe autoimmune diseases, today announces the award of €800k ($868k) in funding from the CPP23 innovation health research program, administered by the Spanish government.

Orikine Bio’s Foldikine^TM technology platform is on the cusp of revolutionizing the future of immunotherapy by engineering bi-specific cytokines that go beyond the natural limitations of biology. These cutting-edge, optimized proteins — called Foldikines — are designed to precisely control immune responses, offering unprecedented therapeutic potential for tackling autoimmune, inflammatory and even cancerous conditions. Through this novel and unique approach, Orikine is unlocking new possibilities in treatments where traditional therapies have fallen short.

Orikine Bio will use the funding to help accelerate the development of its flagship project, ORK-1, a first-in-class Foldikine treatment for Inflammatory Bowel Disease (IBD) and other severe autoimmune or inflammatory diseases with significant unmet medical needs. It is estimated that by 2030 more than seven million people in Europe and the United States will be living with IBD.

“We would like to extend our gratitude to Spain’s Agencia Estatal de Investigación for its continued support of innovative health research. Being accepted into the CPP23 Program marks not only a pivotal milestone in our journey to bring ORK-1 a step closer to patients, but also a strong validation of our innovative approach,” said Dr. Alejo Chorny, chief scientific officer at Orikine Bio. “This support enables us to accelerate our preclinical development timelines. We are looking forward to collaborating with our academic partners and continuing our work towards addressing the critical unmet medical needs of patients worldwide living with autoimmune diseases.”

The CPP23 program supports collaborations between industry and academia under the Spanish Plan Estatal de Investigación Científica, Técnica y de Innovación 2021-2023. Orikine and its academic partners, the Center for Genomic Regulation (CRG), the Spanish National Research Council (CSIC) and the University of Barcelona, will receive total financial support of over €1.5 million ($1.6M) for this research.

The funds will be used to conduct ongoing research and preclinical development of ORK-1, including but not limited to, further in vitro and in vivo characterization and validation work in support of later Clinical Trial Application (CTA) or Investigational New Drug (IND)-enabling studies, currently planned to start in 2025.

About the CPP23 Program

The objective of the CPP23 Program is to support collaborative public-private projects, fostering cooperation between companies and research organizations. Through a competitive selection process, it aims to promote the development of new technologies, encourage the commercial application of novel ideas and techniques, and contribute to the creation of new products and services. The program provides both grant and loan-based financial support to achieve these goals.

About Orikine Bio

Orikine Bio is a pioneering biopharmaceutical company focused on the discovery, research and development of precision-engineered bi-specific cytokine therapies for the treatment of severe autoimmune diseases. These synthetic cytokines, known as Foldikines^TM, offer superior biological properties compared to their natural counterparts, making them highly promising for the treatment of autoimmune, inflammatory diseases and potentially cancer. Orikine’s unique Foldikine platform combines advanced computational and experimental tools, positioning the company at the forefront of immunotherapy innovation.

Founded in 2022, Orikine Bio is a spin-off from the Centre for Genomic Regulation (CRG) in Barcelona; it has obtained €5.5 million in seed financing from AdBio and Asabys.www.orikine.bio