USD 3.5 Million to tackle allergies and inflammatory diseases

An increasing number of patients experience the effects of allergies and inflammatory diseases, including chronic urticaria, mast-cell-driven syndrome, and food allergy, impacting their quality of life. The associated socio-economic burden is significant and despite the growing medical need, current therapeutic treatment options remain notoriously limited and outcomes are poor overall. Allegria Therapeutics, is developing a differentiated portfolio of therapeutic approaches focussing on biological targets that selectively modulate mast cells as triggers of allergies and inflammatory diseases.  

Allegria works with world-leading partners in mast cell biology, drug discovery and preclinical drug testing, including Prof Marcus Maurer, Managing Director of the Institute for Allergy Research at the Charité in Berlin and Dr Philipp Starkl, Principal Investigator at the Medical University of Vienna. 

The company's USD 3.5 million seed funding stems from its founding investor Forty51 Ventures, a company builder and early-stage investor in European biotech companies. With the current funding, Allegria will further develop a differentiated portfolio of proprietary therapeutic approaches around targets that selectively modulate mast cells to more effectively address patient needs. The startup is aiming for clinical proof of concept to foster partnerships for full development and market access.

In line with the funding news, the startup announced the appointment of co-founder Dr Maria van Dongen as its new CEO. Dr van Dongen brings extensive industry experience with a strong track record in the pharmaceutical industry. She previously worked at Johnson & Johnson, where she promoted external partnerships. Dr van Dongen will join nine other Biotech innovators in the Venture Leaders roadshow in Boston, one of the world's most important life science hubs, from May 13 to May 17, 2024. 

(Press release / SR)