Amolyt Pharma, a company specialized in developing therapeutic peptides for rare endocrine and related diseases, closed a $138 million (€130 million) series C equity financing.
Photo: Thierry Abribat, founder, and CEO of Amolyt Pharma
Amolyt plans to use the proceeds to advance pipeline candidates eneboparatide (AZP-3601), a long-acting PTH1 receptor agonist as a potential treatment for hypoparathyroidism, and AZP-3813, a peptide growth hormone receptor antagonist for the potential treatment of acromegaly.
“We are very pleased to complete this large series C financing, which will enable us to build on our momentum with eneboparatide and accelerate the growth of Amolyt Pharma and its pipeline globally,” stated Thierry Abribat, founder, and CEO of Amolyt Pharma.
The series C financing follows several recent positive pipeline development and corporate announcements. In September 2022, Amolyt presented positive efficacy and safety data from the first cohort of its phase 2a study of eneboparatide at the American Society for Bone and Mineral Research 2022 Annual Meeting. In October 2022, the company announced positive results from the second patient cohort in its phase 2a clinical proof of concept trial of eneboparatide. Consistent with the findings from the first cohort of the study, eneboparatide was well-tolerated. Daily administration of eneboparatide over 3 months enabled 93 percent of patients to discontinue standard of care therapy (oral calcium and vitamin D supplementation) while mean serum calcium was maintained within the target range. 24-hour urinary excretion of calcium was rapidly normalized in all but one patient, including those with hypercalciuria at baseline. Bone turnover biomarkers, P1NP and CTX, increased after two weeks of treatment and remained within their mid-normal range through the end of the study, consistent with a balanced increase in bone turnover.
Sofinnova Partners led the financing, which was co-led by Intermediate Capital Group with participation from new investors Tekla Capital Investment and CTI Life Sciences, along with existing investors Andera Partners, Novo Holdings (Novo Ventures), Kurma Partners, EQT Life Sciences, Innobio 2 (Bpifrance Investissement), Sectoral Asset Management, Pontifax, Orbimed, Mass General Brigham Ventures, ATEM, Credit Agricole Creation, and Relyens Innovation Santé/Turenne Capital.
Cédric Moreau and Toby Sykes, managing director at ICG, will join Amolyt’s Board of Directors.
Author: Rare Daily
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