Bionyra Pharma launched out of stealth after raising $165 million in an oversubscribed Series A to develop next-generation biologics for severe immunological and inflammatory diseases. The clinical-stage company was co-founded by Frédéric Marrache, MD, PhD, with Sofinnova Partners and Jeito Capital among the co-leads. Board appointments include representatives from Jeito Capital and Sofinnova Partners, with additional participation from Sanofi Ventures, Arkin Bio, Apollo Health Ventures, and others. The funding signals continued investor appetite for immune-system platforms where target selection and pathway differentiation remain the key hurdles between concept and late-stage execution.