The French Biotech Company Amolyt Pharma Raises €130 Million
In detail, this new financing was led by Sofinnova Partners and co-managed by Intermediate Capital Group, but the transaction also benefited from the participation of historical investors such as Andera Partners, Novo Holdings, Kurma Partners, EQT Life Science, and the Innobio 2 fund of Bpifrance Investissement. New investors also contributed to the €130 million investment.
Amolyt Pharma is a Lyon-based biotech specializing in rare endocrine diseases that develops a treatment for hypoparathyroidism and acromegaly. This start-up has just completed the largest fundraising in the history of the biotech sector in France
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Amolyt Pharma is a biotech expert in rare diseases
Founded in 2015, Amolyt Pharma specializes in treatments for rare endocrine diseases. It currently has two drug candidates: AZP-3813, for the treatment of acromegaly, and, most importantly, AZP-3601, known as eneboparatide and aimed at curing hypoparathyroidism (a rare disease causing a lack of production of parathyroid hormone, which is involved in the regulation of calcium levels).
Having completed Phase 2 of the latter treatment in September with positive results on its safety and efficacy, all funding will be focused on AZP-3601. Amolyt Pharma is counting on this new round of financing to fund its phase 3. This phase will include around 100 patients and is due to start in the first half of this year. “We have the financial resources to successfully complete this stage, which should lead to a marketing application in 2025, primarily in the United States,” said Thierry Abribat, founder and CEO of Amolyt Pharma.
Amolyt Pharma closes a €130 million financing round
After having raised €67 million in the previous round co-led by the American Sectoral Asset Management and Andera Partners, the Lyon-based biotech company has closed a €130 million Series C round, the largest in the history of biotechs in France.
In detail, this new financing was led by Sofinnova Partners and co-managed by Intermediate Capital Group, but the transaction also benefited from the participation of historical investors such as Andera Partners, Novo Holdings, Kurma Partners, EQT Life Science, and the Innobio 2 fund of Bpifrance Investissement. New investors also contributed to the €130 million investment with funds managed by Tekla Capital Investment LLC, and CTI Life Sciences.
Finally, Thierry Abribat welcomed the financing: “We are very pleased to complete this important Series C financing which will allow us, on the basis of our positive clinical results with enneboparatide, to accelerate the growth of Amolyt Pharma and its portfolio at the international level”.
In conclusion, this new round of financing for Amolyt Pharma will enable the Lyon-based biotech company to accelerate its growth, particularly internationally, by capitalizing on the recent success of its phase 2 treatment.
(Featured image by 22772072 via Pixabay)
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First published in Planete GRANDE ECOLES, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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