Amplyx Pharmaceuticals Raises $53M for New Drug Discovery

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Amplyx Pharmaceuticals Raises $53M for New Drug Discovery

By Pharma Tech Outlook | Friday, May 22, 2020

Amplyx Pharmaceuticals closes a $53 million Series C extension round, bringing the firm’s total amount raised from Series C funding to $90 million

Fremont, CA: Amplyx Pharmaceuticals secures $53 million from its Series C extension round. Being a biotech company Amplyx Pharmaceuticals is focused on developing innovative therapies for debilitating and fatal diseases in patients with weak or compromised immune systems. Amplyx's latest round of Series C extension funding was closed after raising $53 million, bringing its total investment raised from Series C round to $90 million. 

The round was led by the VC Sofinnova Investments, along with the participation from the company's existing investors, including New Enterprise Associates and Lundbeckfonden Ventures, Aix Bioscience, Pappas Capital, Rivervest Venture Partners, 3A-5 Partners, and BioMed Ventures. New equity investments from Pfizer and Adage Capital Management brought an end to the Series C round of financing. The proceeds from the financing collected will be utilized as an advance to the clinical development of the company's product candidates, Fosmanogepix and MAU868. 

Top 10 Drug Discovery and Development Solution Companies - 2019"The current pandemic highlights the continued need for the development of safe and effective antimicrobial agents able to address emerging threats. This impressive syndicate of investors shares Amplyx's commitment to bringing life-saving, innovative medicines to compromised immune systems," said Ciara Kennedy, Ph.D., president, and chief executive officer of Amplyx. "This financing enables us to build on positive initial data for our lead program, fosmanogepix, in invasive candidemia, and expand to proof of concept studies in other invasive and difficult-to-treat fungal infections, including invasive aspergillosis. In addition, we continue to advance MAU868, our monoclonal antibody, for the treatment of clinically significant BKV infection in people who have received either a kidney or hematopoietic cell transplant."

Annaliesa Anderson, Ph.D., FAAM, vice president and chief scientific officer, bacterial vaccines and hospital, Pfizer, added, "It is important that the growing threat of new and emerging treatment-resistant fungal pathogens is met by research and development efforts that deliver new treatment options for patients with invasive fungal infections. We look forward to supporting Amplyx as they work to develop therapies with a novel approach."

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