Funds to be used to continue to advance AZP-3601 through clinical development for hypoparathyroidism while progressing AZP-3813 through IND-enabling activities in acromegaly and further expanding early-stage pipeline
With this $80 million Series B financing, Andera Partners is closing its second investment of the BioDiscovery 6 Fund.
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 Ventures, Kurma Partners, Mass General Brigham Ventures, Innobio 2 managed by Bpifrance, Orbimed, Pontifax, 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.”
“We are very pleased to join Amolyt, which is led by a dynamic and experienced serial entrepreneur in the development of therapies targeting rare endocrinological and metabolic diseases. We are confident in the development of the lead product and in the team’s ability to create a high-quality pipeline to address major unmet medical needs in the field of endocrinology. The Life Sciences team is proud to co-lead this $80M round, which is a testimony to the dynamism of the sector in France and Europe, in collaboration with high quality investors and sector specialists,” said Raphaël Wisniewski, Partner at Andera Life Sciences.
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) portion of its Phase 1 trial of AZP-3601 for the potential treatment of hypoparathyroidism and will present the results on October 1st, 2021.
- In September 2021, the company announced that it had exercised its option to globally license a portfolio of macrocyclic peptide growth hormone receptor antagonists (GHRA) under the terms of the research collaboration agreement with Peptidream it 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, presented positive data from its Phase 1 trial of AZP-3601 for the potential treatment of hypoparathyroidism at ECE. Data from the single ascending dose (SAD) portion of the trial showed that AZP-3601 induced a long-acting serum calcium response following a single administration in healthy volunteers.