Calluna Pharma was formed in 2023 following the merger of Oxitope Pharma and Arxx Therapeutics. The company is based in Oslo, Norway, with Forbion, Sarsia, p53 and Investinor as lead investors.

The company’s therapeutic approach targets upstream amplifiers of disease, offering potential applicability across a diverse array of medical conditions.

In May 2024, Calluna announced a EUR 75 million Series A financing, which will be used to develop its lead program, CAL101, a monoclonal antibody that neutralizes the bioactivity of S100A4, a DAMP protein implicated in serious and life-threatening diseases.