Calypso Biotech
Established: 2013
Country: Netherlands
Region: Amsterdam
Investors: Gilde Healthcare, Fountain Healthcare Partners, INKEF Capital, M Ventures, JJDC
Calypso Biotech is a biopharmaceutical company specializing in the development of therapeutic antibodies against severe (auto)immune diseases. Calypso’s lead program, CALY-002, is a best in class antibody which binds to and neutralizes interleukin-15 (IL-15), an immune checkpoint with an role in severe pathologies.
CALY-002 is being developed for Eosinophilic Esophagitis (EoE), an emerging immune pathology driven by food antigens and resulting in severe dysphagia and poor quality of life in children and adults. With more than 300 000 people living with EoE, and no approved biologicals on the market today, a large unmet need for effective treatment exists. CALY-002 has obtained orphan drug designation. It has advanced this antibody based drug candidate through to completion of Phase 1b studies in patients suffering from gastrointestinal disorders such as Eosinophilic EoE and Celiac disease. It has demonstrated good safety and tolerability and proof of mechanism in healthy volunteers and patients. It has also demonstrated proof of concept in experimental preclinical disease models for atopic dermatitis. Calypso and a Contract Development and Manufacturing Organization have developed, optimized and patented a manufacturing process.
Calypso Biotech was established in 2013 as a spin-off by the healthcare business of Merck founded by Alain Vicari, Yolande Chvatchko and M Ventures, and is headquartered in Amsterdam, The Netherlands.
Alain Vicari
CEO, Founder - Calypso Biotech
We are excited for this transaction with Novartis, a company with relentless commitment to the development of innovative therapies for autoimmune conditions. As part of the Novartis portfolio, CALY-002 is in the best position to be developed effectively, so that it can promptly address unmet medical needs in multiple indications. We extend our sincere gratitude to Gilde Healthcare for their pivotal role as the lead investor in Calypso from Series A through to trade sale. Their unwavering commitment, active involvement in strategic matters, and leadership on the board of directors have been instrumental in our success.
€37m
raised from VC
6
staff members
$425m
sold to Novartis
Key achievements
Developed lead program CALY-002 from early discovery through to successful completion of two Phase 1b studies
Successfully strengthened and expanded its patent estate
Developed and patented a robust and high yield manufacturing process
Obtained Orphan Drug designation
Raised €37 million in a seed and Series A round between 2018 and 2023
Strengthened the team from 2 co-founders to a fully integrated team complemented with a network of consultants and vendors
Acquisition of Calypso Biotech by Novartis in return for an up-front payment of $ 250 million and $ 175 million based on achievement of certain predetermined milestones
Funding history
€2.5 million seed financing by M Ventures followed by a €2.4 million financing by M Ventures, INKEF and JJDC (2018)
€20 million Series A financing led by Gilde Healthcare. Co-investors included INKEF Capital, JJDC and M Ventures (2020).
€8 million extension Series A financing with Fountain Healthcare joining as co-investor (2021)
€4 million financing by existing investors (2023)
Investors
