Startup story #27 - MV BioTherapeutics

Most of the existing treatments for gut-related immune disorders rely on immunosuppression therapies, which often come with serious side effects for the patient. MV Biotherapeutics, a spin-off of the Institute for Research in Biomedicine (IRB), is tackling this challenge with a novel solution, based on a proprietary enzyme delivery platform for extracellular ATP modulation in the gut. In this interview, Dr. Fabio Grassi, CEO and co-founder, walks us through the path from academia to startup, sharing the setbacks and the evolution of the project.

What led you to start a biotech company?

I graduated in medicine, but I have always been fascinated by the underlying mechanisms that regulate disease rather than clinical practice itself. Therefore, I transitioned into basic research, joining the Institute for Research in Biomedicine (IRB) in Bellinzona in 2002 to study how T cells are influenced by external signals, particularly molecules like ATP. One day, we discovered that, in the gut, the extracellular ATP was activating a receptor called P2X7, which actively regulates the quantity and quality of IgA antibodies production. When we genetically deleted the P2X7 receptor in mice, we observed a sharp increase in IgA responses, significant disruption of the microbiota, inflammation, and even systemic effects such as obesity. As a physician, I immediately recognised the innovative potential of this mechanism in generating strong and specific immune responses in the gut, which is one of the biggest challenges in mucosal immunology. Once I had these findings in my hands, I got in contact with the representatives of the USI Startup Centre (formerly Centro Promozione Start-Up), who encouraged me to apply to the Start Cup Ticino competition as the very first step in transforming our discovery into a company.

Your project went through several pivots. How did you decide which direction to take next?

From the beginning, the core of our approach has always been targeting extracellular ATP in the gut as a way to modulate immune responses. However, translating this scientific insight into a commercially viable product has been anything but straightforward. Our original vision was focused on oral vaccines that could overcome the immunological “noise” created by the microbiota and induce a strong IgA-mediated immune response. Despite very promising preclinical results with high-affinity IgA antibodies and robust protection, the response from investors was discouraging. Vaccines are notoriously hard to fund, unless you are addressing a pandemic or infant immunisation, because the path to market is long, and the margins are low. After multiple pivots, we decided to focus on inflammatory bowel diseases (IBD), chronic conditions like Crohn’s disease and ulcerative colitis that cause long-term inflammation of the digestive tract, an area that offered both scientific depth and commercial potential. In contrast to existing solutions, our treatment is localised, targeted, and based on restoring immune balance rather than suppressing it.

How did you stay committed through so many shifts, especially while building the company alone in the early years?

For a long time, the company was just me with no employees and no office. I rented two lab benches and carried on by paying researchers per project and outsourcing everything I could with the limited funds available at the time. I also had to manage the entire business side alone for years, even though I was not a business person. I had two false starts with potential co-founders, which, for different reasons, did not work out. Then, through the Innosuisse coaching programme, I met Armin Meder, who officially joined the company in 2024. All the support I received throughout this entrepreneurial journey was instrumental in keeping the company going.

Why do you think novel and promising ideas struggle to get traction?

I have thought a lot about this, and while I used to assume it was simply about risk, I now believe it goes much deeper than that because it is a multi-causal problem. When you show up with something new, the first question investors often ask is if anybody else is doing it. Being the only one working on a specific approach is not seen as a strength but rather as a red flag. Part of the problem is psychological, because no one wants to be the first to take the leap. But then there is also the issue of narrative. What we are offering is a breakthrough platform technology, something that could be applied across multiple areas, from vaccines and malnutrition to oncology and inflammatory diseases. That level of versatility is exciting scientifically, but from the commercial point of view, it is more difficult to sell since investors often prefer a single indication, a linear path, and a well-defined exit strategy.

What are your next milestones?

Our most immediate goal is to secure seed funding, ideally with the support of a specialised lead investor who has experience in immunology, gut inflammation, or microbiome-based therapeutics. The funds will be used to cover the critical next steps that are GMP production, completion of preclinical studies, and the execution of a small Phase 1b trial. Our long-term vision is to advance the product to Phase 2, establishing a solid proof of concept, and hopefully partner with one of the major pharmaceutical companies, one with the infrastructure and resources needed to bring it to market.

3 quick questions to wrap it up:

• Where do you see yourself in ten years? – Ideally still in the field, maybe in another company, or mentoring new founders.
• How do you recharge your batteries? – I have learned to step away. Sleeping, resting, and switching off are not a luxury but a survival strategy.
• What is one quality a founder must cultivate? – The ability to fail. Know when to let go and analyse critically all the situations, pivoting if necessary.