Bionyra Pharma, a Paris-based biotech founded in 2025, formally announced on 22 June 2026 a 143 million euro fundraising, described as the largest ever completed by a French biotech. The proceeds will finance the clinical development of three molecules for the treatment of severe atopic dermatitis and chronic inflammatory bowel diseases.
Analysis by the experts at Auris Finance, advisors in mergers, acquisitions and financial engineering.
Bionyra Pharma has announced an oversubscribed Series A of 165 million dollars, or around 143 million euros, to advance its portfolio of clinical-stage products, made up of next-generation biologics targeting severe immunological and inflammatory diseases.
A founder with a Sanofi R&D pedigree
Co-founder and CEO of Bionyra, Frédéric Marrache spent more than ten years in Sanofi’s R&D division, working on immunological and inflammatory diseases. He notes that more than half of patients with severe forms of immune-mediated inflammatory diseases do not respond adequately to the treatments available today, even though half a dozen drugs are already approved in the segment.
The company was co-founded with Sofinnova Partners, which backed its seed round. Frédéric Marrache explains: “With Sofinnova, we shared the same view of this medical need. We built the project together, from selecting the molecules through to shaping the team.”
Three molecules in development, a clinical timeline spanning several years
Bionyra‘s mono- and multi-specific antibodies target new immune pathways, with an initial focus on severe atopic dermatitis and chronic inflammatory bowel diseases, including Crohn’s disease and ulcerative colitis.
The proceeds will mainly finance clinical studies of the three molecules in the pipeline. Frédéric Marrache walks through the process: the drug has to be manufactured, then trials are organised first with healthy volunteers, which is already under way, then with patients. The clinical studies aimed at characterising the efficacy and safety profile of these drugs are expected to be launched between 2027 and the end of 2028.
He points to a typical horizon of six to eight years between a molecule’s entry into human trials and its market launch, breaking down the three standard clinical phases:
- Phase 1, which checks safety in healthy volunteers,
- Phase 2, which assesses efficacy and dosage in patients,
- Phase 3, the longest, which supports registration of the drug with health authorities.
The reasons behind the oversubscription
Frédéric Marrache is discreet on the initial target of the round, but explains: “The success comes down to a scientifically strong project, carried by a credible team. A syndicate of anchor investors gave the project a huge amount of credibility.”
Mehdi Ainouche, partner at Jeito Capital, sets out his fund’s conviction: “Bionyra is uniquely positioned to speed up the availability of highly promising treatments for patients, through a targeted, well-designed clinical development strategy, aimed at securing clinical validation quickly and addressing key unmet needs, such as deeper remission and alternatives for patients who do not respond to treatment.”
A sector backdrop that supports biotech financing
Frédéric Marrache places the round within a broader trend: “There is an acceleration in the discovery of new drug candidates around the world,” citing scientific progress on therapeutic modalities, more capital flowing into the pharmaceutical sector, and the emergence of new regions such as China.
Jeito Capital, which manages 1.6 billion euros in assets, backs clinical-stage biopharmaceutical companies developing cutting-edge innovations that address unmet medical needs. Bionyra currently has around twenty employees and expects to reach 25 to 30 people by the end of the year.
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