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One Plus One Equals Three For Calluna

 
• By Elizabeth Cairns

Two early-stage companies have merged to form Calluna Therapeutics, which is targeting immunological diseases and hopes to get to proof of concept by mid-2026.

Merger
• Source: Shutterstock

Merging two companies and securing a €75m ($81m) series A venture round is not an unimpressive achievement, particularly when the combined group is yet to achieve proof of concept, and is active in the tricky and competitive arena of immunology. But Calluna Pharma emerged last week in just this manner, and has given itself three years to prove its pipeline’s value.

Key Takaways
  • Oxitope Pharma and Arxx Therapeutics have merged to form Calluna Pharma
  • The group has obtained €75m in a series A round and hopes to get €15m-20m more...

Calluna does have a bit of a leg-up in that its CEO John Montana, is, in addition to his duties running a biotech, also a managing partner at leading European...

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