Molecure

What Molecure does

Molecure S.A. (WSE: MOC) is a clinical-stage biopharmaceutical company headquartered in Warsaw, Poland, founded in 2012 as OncoArendi Therapeutics and renamed Molecure in March 2022. The company discovers and develops first-in-class small molecule drugs that directly modulate protein activity and mRNA translational function, targeting diseases with high unmet medical need in inflammatory/fibrotic indications and oncology. Its pipeline is anchored by two clinical assets: OATD-01, a first-in-class CHIT1 (chitinase 1) inhibitor in Phase II (KITE study) for pulmonary sarcoidosis and being progressed toward a Phase II MASH indication; and OATD-02, an oral selective dual arginase (ARG1/ARG2) inhibitor in Phase I for solid tumors, with 80mg dose escalation initiated in May 2026. A preclinical USP7 deubiquitinase inhibitor program is co-developed with Avicenna Biosciences, and an AI-powered drug discovery platform is being built under the SMART Path consortium with the Institute of Organic Chemistry of the Polish Academy of Sciences (PLN 50.78M total budget).

The company operates a partnership-driven commercialization model, seeking licensing and co-development agreements with larger pharmaceutical companies for its clinical assets; the YKL-40 program has been exclusively out-licensed to Ocean Biomedical (NASDAQ: OCEA) with ~$32M bio-dollar milestone potential. Revenue today is non-product: grants from EU/FENG, NCBR, PARP, NIH and the Polish Agency for Enterprise Development (PLN 32M+ contracted) plus equity raises on the Warsaw Stock Exchange (USD 12M secondary offering in July 2023, PLN 20M Series K in March 2026). With ~90 employees including 40 PhDs, R&D sites in Warsaw and Łódź, and academic collaborations with Yale, Rutgers, VIB Ghent, Trinity College Dublin, IIMCB and the University of Michigan, the company is currently pre-revenue and operating at a net loss (PLN 20.8M in 1-3Q 2024) while refocusing its pipeline after closing the RNA platform program in January 2026.

Name

Molecure

Legal name

Molecure S.A.

Website

https://molecure.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

51–100 employees

Short description

Molecure S.A. is a clinical-stage Polish biopharmaceutical company developing first-in-class small molecule drugs targeting chitinases, dual arginases, and mRNA translation for inflammatory/fibrotic diseases and oncology, partnered with global universities and out-licensing assets to larger pharma.

Ownership category

akta.pro rank

Headquarters

HQ city

Warsaw

HQ country

Poland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure

Revenue model

1. Partnership/ Licensing Revenue: Upfront payments, milestone payments, and royalties from partnering agreements for clinical programs including OATD-01 and OATD-02. Strategic goal to conclude partnership agreement for OATD-01 program for MASH indication.
2. Grant Funding: Government grants and subsidies from European Union (FENG, NCBR), NIH, and Polish Agency for Enterprise Development (PARP). Contracted grant funding for future years exceeds PLN 32 million.
3. Equity Offerings: Public offerings on Warsaw Stock Exchange for raising equity capital. Raised approximately USD 12 million in secondary public offering (July 2023) and approximately PLN 20 million from Series K shares in March 2026.
4. AI Drug Discovery Services: Potential future revenue from offering AI-powered drug discovery and development services to biopharmaceutical sector entities.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Molecure discovers and develops first-in-class small molecule drugs that directly modulate protein activity and mRNA translational function for treatment of incurable inflammatory, fibrotic and oncological diseases. The company operates a clinical-stage pipeline anchored by OATD-01 (CHIT1 inhibitor) in Phase II for sarcoidosis and MASH, and OATD-02 (dual arginase inhibitor) in Phase I for solid tumors. Revenue is generated primarily through licensing and partnership agreements with larger pharmaceutical companies, supplemented by government and EU research grants.

Product overview

Molecure is a clinical-stage biotechnology company discovering and developing first-in-class small molecule drugs that directly modulate protein activity and mRNA translational function. The company's portfolio includes two clinical-stage drug candidates: OATD-01 (CHIT1 inhibitor in Phase II for pulmonary sarcoidosis and MASH) and OATD-02 (dual arginase inhibitor in Phase I for cancer). Preclinical programs include the USP7 deubiquitinase inhibitor project. An AI-powered drug discovery platform is under development in collaboration with the Institute of Organic Chemistry of the Polish Academy of Sciences. Previously developed programs like YKL-40 have been licensed to partners like Ocean Biomedical. The company leverages unique expertise in medicinal chemistry and biology to explore unexplored protein and RNA targets.

Differentiator

Problem solved

Functional benefit

Products and services

• OATD-01 First-in-class oral CHIT1 (chitinase 1) inhibitor for treatment of interstitial lung diseases including pulmonary sarcoidosis and idiopathic pulmonary fibrosis, as well as metabolic dysfunction-associated steatohepatitis (MASH). Blocks chitinase activity to reduce excessive macrophage activity. Currently in Phase II clinical development.
• OATD-02 Oral, selective, first-in-class dual arginase inhibitor targeting both ARG1 and ARG2 for treatment of solid tumors including colorectal, ovarian, pancreatic and kidney cancers. Restores arginine availability in tumor microenvironment and reduces immunosuppression mechanisms. Currently in Phase I clinical development.
• USP7 Program Preclinical deubiquitinase (USP7) inhibitor program for immuno-oncology applications. Designed to overcome drug-like parameter challenges and develop revised formulations in collaboration with Avicenna Biosciences.
• AI-Powered Drug Discovery Platform AI-based service platform for discovery and development of new small molecule drugs, using machine learning and generative AI (GenAI) methods for virtual screening and optimization of drug candidates targeting mRNA and protein targets. Developed as a consortium project under the SMART Path program.
• YKL-40 Program (licensed) Anti-tumor therapeutic program based on YKL-40 targeting molecules, exclusively licensed to Ocean Biomedical, Inc. (NASDAQ: OCEA) including lead compound OAT-3912. Bio-dollar revenue potential of approximately $32 million for Molecure based on milestone achievement.

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature5 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Institute of Organic Chemistry of Polish Academy of SciencescoreStrategic or Co-development Partner · 1 December 2025Consortium partner for AI-powered drug discovery platform project under SMART Path program. Total project budget PLN 50.78 million, with total funding of PLN 35.72 million, of which PLN 27.03 million allocated to Molecure.
• Avicenna BiosciencescoreStrategic or Co-development Partner · 15 October 2024Collaboration on USP7 project to overcome challenges in optimizing drug-like parameters for lead compounds and develop revised drug formulation.
• Specialized Medical Services-oncology B.V.minorImplementation/ SI/ Consulting Partner · 21 February 2023Regulatory affairs services for clinical development of OATD-01 and preparation and submission of clinical trial application to US regulatory bodies. Contract value: EUR 239,959.00.
• Orion Santé SarlcoreImplementation/ SI/ Consulting Partner · 16 February 2023CRO partner for Phase II Proof-of-Concept clinical trial to assess efficacy, pharmacokinetics, pharmacodynamics and safety of chitinase inhibitor OATD-01 in patients with active pulmonary sarcoidosis. Contract value: EUR 10,060,495.52.
• Douglas W.P. HayminorImplementation/ SI/ Consulting Partner · 1 January 2022Professional consulting and advice on immunomodulatory properties of new compounds and interpretation of biological activity data. Contract value: USD 24,000.00.
• Warsaw Medical UniversityminorImplementation/ SI/ Consulting Partner · 1 January 2022In vivo studies for biological activity of deubiquitinase inhibitors in mouse model of B-cell leukemia. Contract value: PLN 28,000.00.
• Yale UniversitycoreStrategic or Co-development PartnerAcademic research partnership for generating portfolio of programs with support from leading academic research institutions worldwide.
• Rutgers UniversitycoreStrategic or Co-development PartnerAcademic research partnership for generating portfolio of programs with support from leading academic research institutions worldwide.
• Flemish Institute for Biotechnology (VIB) in GhentcoreStrategic or Co-development PartnerAcademic research partnership for generating portfolio of programs with support from leading academic research institutions worldwide.
• University of MichiganminorStrategic or Co-development PartnerPreviously collaborated on know-how licensing agreement for undisclosed signaling pathway. Agreement planned to be terminated at no cost to company.
• Trinity College Dublin (TCD)coreStrategic or Co-development PartnerAcademic research partnership for generating portfolio of programs with support from leading academic research institutions worldwide.
• International Institute of Molecular and Cell Biology in Warsaw (IIMCB)coreStrategic or Co-development PartnerAcademic research partnership for generating portfolio of programs with support from leading academic research institutions worldwide.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Intercept Pharmaceuticals: Established US biotech with obeticholic acid for MASH and primary biliary cholangitis. Larger, more advanced player in the same MASH therapeutic area.
• FibroGen: US biotech with pamrevlumab in IPF and roxadustat in anemia. Larger, more established player with overlapping fibrosis/connective tissue disease therapeutic area.

Direct peers

• Madrigal Pharmaceuticals: US biotech with resmetirom (Rezdiffra), the first FDA-approved therapy for MASH. Direct MASH small-molecule peer; represents both the commercial validation of the MASH opportunity and a benchmark for partnership/approval economics.
• Galapagos NV: Belgian clinical-stage biotech with a portfolio of small molecule candidates in inflammation and fibrosis, historically partnered with Gilead. Comparable small-molecule discovery engine and fibrotic/inflammatory therapeutic focus.
• Pliant Therapeutics: Clinical-stage US biotech developing small molecule therapies for idiopathic pulmonary fibrosis and other fibrotic diseases. Directly comparable therapeutic area to OATD-01's IPF and sarcoidosis indications.
• Inventiva: French clinical-stage biotech with lead asset lanifibranor in Phase III for MASH and earlier-stage programs in IPF. Directly comparable small-molecule MASH/fibrosis development profile.
• Ryvu Therapeutics: Polish clinical-stage oncology biotech also listed on the Warsaw Stock Exchange, developing small molecule therapeutics in hematology and solid tumors. Closest geographic and stage peer to Molecure with similar headcount and partnership-driven business model.
• NGM Biopharmaceuticals: US clinical-stage biotech (now part of Akeso) developing small molecules for MASH and oncology. Directly comparable MASH-focused small-molecule pipeline with similar partnership-driven strategy.
• Terns Pharmaceuticals: US clinical-stage biotech developing small molecules for MASH (TERN-501) and oncology. Directly comparable dual-focus small-molecule strategy and similar clinical stage profile.

Emerging players

• Captor Therapeutics: Polish clinical-stage biotech developing targeted protein degraders for oncology. Closest regional peer in Poland, similar size and stage, with overlapping oncology small-molecule discovery focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/molecure_sa
• YouTubeyoutube.com/channel/UC_6EQuYea5NiZCFW5POfA0A/about
• Facebookfacebook.com/molecuresa
• LinkedInlinkedin.com/company/molecure-sa

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Molecure