Amolyt Pharma Announces $80 Million Series B Financing led by Sectoral Asset Management and Andera Partners
Funds to be used to continue the clinical development of AZP-3601 for hypoparathyroidism while progressing AZP-3813 through IND-enabling activities in acromegaly and further expanding early-stage pipeline
LYON, France and CAMBRIDGE, Mass., Sept. 16, 2021 (GLOBE NEWSWIRE) -- Amolyt Pharma, a global company specialized in developing therapeutic peptides for rare endocrine and related diseases, today announced that the company has closed an $80 million Series B equity financing round. The financing was co-led by Sectoral Asset Management and Andera Partners, with participation from ATEM Capital and all investors from the company’s July 2019 Series A financing, including LSP, Novo Holdings (Novo Ventures), Kurma Partners, Mass General Brigham Ventures, Innobio 2 managed by Bpifrance, Orbimed, Pontifax, Eurazeo, Sham Innovation Santé/Turenne Capital and Credit Agricole Creation.
Amolyt plans to use the proceeds from the financing to advance its pipeline of potential therapeutics for rare endocrine and related diseases, including clinical development of AZP-3601 for hypoparathyroidism, pre-clinical development of AZP-3813 for acromegaly and ongoing research related to AZP-3404. In addition, the company continues to work to further expand its early-stage pipeline through both internal research and development activities and potential in-licensing opportunities.
“We are very pleased to expand our high-quality syndicate with the addition of these new North American and European investors, and we are highly appreciative of the continued support from our existing investors,” stated Thierry Abribat, Ph.D., founder, and chief executive officer of Amolyt Pharma. “This financing will give us the opportunity to further pursue our mission of building a leading rare endocrine and related disease company, and we will continue to work to introduce new and potentially life-changing therapeutics to patients globally.”
The Series B financing follows several recent positive pipeline developments, including the following:
- In September 2021, the company announced completion of the multiple ascending dose (MAD) part of its Phase 1 trial of AZP-3601 for the potential treatment of hypoparathyroidism and will present the results at the 2021 meeting of the American Society for Bone and Mineral Research (ASBMR) on October 1st.
- In September 2021, the company announced that it had exercised its option to globally license a portfolio of macrocyclic peptide growth hormone receptor antagonists (GHRAs) under the terms of the research collaboration agreement with Peptidream announced in December 2020. The identified, optimized drug candidate, AZP-3813, is being developed as a potential treatment for acromegaly to be used in combination with somatostatin analogues (SSAs) for patients who do not adequately respond to SSAs alone.
- In May 2021, the company presented positive data from the single ascending dose (SAD) part of its Phase 1 trial of AZP-3601 for the potential treatment of hypoparathyroidism at the 23rd European Congress of Endocrinology (ECE). Data showed that AZP-3601 induced a long-acting serum calcium response following a single administration in healthy volunteers.
About Amolyt Pharma
Amolyt Pharma, a clinical stage biotechnology company, is building on its team’s established expertise in therapeutic peptides to deliver life-changing treatments to patients suffering from rare endocrine and related diseases. Its portfolio includes AZP-3601, a long-acting PTH analog as a potential treatment of hypoparathyroidism, AZP-3813, a macrocyclic peptide growth hormone receptor antagonist for the potential treatment of acromegaly, and AZP-3404, which is undergoing indication selection work. Amolyt Pharma aims to further expand and develop its portfolio by leveraging its global network in the field of endocrinology and with support from a strong syndicate of international investors. To learn more, visit www.amolytpharma.com or follow us on Twitter at @AmolytPharma.
Cherilyn Cecchini, M.D.
LifeSci Advisors, LLC