Arix Bioscience has acquired an interest in Amplyx Pharmaceuticals – San Diego-based Amplyx is focused on developing novel, broad-spectrum antifungal agents for the treatment of life-threatening fungal infections – as part of an oversubscribed $67 million Series C financing round.
Arix Bioscience said Wednesday it participated alongside new investors Sofinnova Venture Partners, which led the round, Lundbeckfonden Ventures and Pappas Ventures, as well as existing investors New Enterprise Associates, RiverVest Venture Partners, 3×5 RiverVest II, and BioMed Ventures. Mark Chin of Arix Bioscience will join Amplyx’s Board as an Observer.
Proceeds of the financing will be used to advance the development of Amplyx’s lead candidate APX001 into Phase II clinical trials for the treatment of invasive candidiasis, aspergillosis, and rare molds, including Fusarium, Scedosporium, and fungi from the Mucorales order.
Joe Anderson, Chief Executive Officer of Arix Bioscience plc, said: “Invasive, life-threatening fungal infections present a serious unmet medical need, particularly for patients with compromised immune function, as the number of therapeutic options is quite limited. There have been relatively few recent advances in this area, and many existing agents are difficult to use, poorly tolerated or ineffective due to the rise of drug-resistant strains. The novel treatment that Amplyx is developing is potentially transformative, and we are pleased to support its continued development by a proven management team, alongside an experienced group of co-investors.”