Swiss biotech GlycoEra has closed a $130 million Series B financing round to advance its precision protein degradation platform, with lead candidate GE8820 set to enter first-in-human trials for autoimmune diseases later this year. The oversubscribed round was led by Novo Holdings and included participation from Roche Ventures, Bristol Myers Squibb, Sofinnova Partners, and LifeArc Ventures.
Novel Approach to Autoimmune Disease Treatment
GE8820 represents a new class of extracellular protein degraders designed to selectively target and eliminate IgG4 autoantibodies. According to company president and CEO Ganesh Kaundinya, the drug has "pipeline in a product" potential due to its broad applicability across multiple autoimmune conditions.
The drug targets IgG4, a circulating antibody that normally provides protection against allergies but becomes pathogenic in autoimmune diseases, attacking the body's own tissues. GE8820's mechanism involves binding to malfunctioning IgG4 antibodies and directing them to liver cells for destruction through the body's natural protein disposal system.
"Our approach not only enables the patients to live better lives, it also overall contributes to better healthcare economics across the board," Kaundinya said, noting that the precision targeting may reduce the cycle of treatment and relapse common with current therapies.
Dual-Acting Mechanism Shows Promise
GE8820 employs a dual-acting mechanism where one part of the molecule binds to the problematic antibody and drags it to the liver, while the other part latches onto a receptor that absorbs IgG4 into cells for degradation. According to GlycoEra, preclinical testing demonstrated the approach can remove malfunctioning IgG4 antibodies "with a speed, depth, and high level of selectivity not attainable with current modalities and without immunosuppression."
This precision targeting could address significant limitations of existing autoimmune treatments, which often cause broad immunosuppressive effects. The company believes GE8820 may avoid these complications while potentially reducing the overall burden on healthcare systems.
Target Indications and Pipeline Development
GE8820 is being developed for multiple autoimmune conditions including muscle-specific kinase myasthenia gravis, pemphigus, and primary membranous nephropathy. The company has disclosed three additional programs beyond GE8820, though specific disease targets have not been revealed. GlycoEra expects to submit a request to begin trials for its second drug candidate in 2026.
Investor Confidence in Protein Degradation Space
The substantial funding reflects continued investor interest in protein degradation technologies, which offer new approaches to targeting previously "undruggable" proteins. "What really stood out with GlycoEra is that you had a use case here where, in autoimmune disease, there's limited competition, a high amount of medical need and the biological rationale is really strong," said Novo Holdings partner Max Klement.
GlycoEra, headquartered in Wädenswil, Switzerland with U.S. operations in Newton, Massachusetts, was spun out from Swiss biotech LimmaTech Biologics in January 2021. The company previously raised approximately $49 million in Series A funding in November 2021.
The protein degradation field has attracted significant pharmaceutical industry investment, with recent deals including Novartis's $150 million upfront payment to Arvinas for a prostate cancer degrader and Pfizer's $650 million agreement for another Arvinas program. The space continues to evolve with various companies developing different approaches to eliminate harmful proteins that traditional drug development methods cannot effectively target.
