Amolyt Pharma has secured $80 million in financing from the likes of Novo Holdings and comes just a week after moving forward with a PeptiDream collaboration.
The Lyon, France-based biotech picked up the series B financing on Thursday to bring forward three main programs and beef up its pipeline of earlier-stage endocrine and related assets.
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Proceeds could also bankroll potential in-licensing programs, Amolyt said. The biotech move forward with one such deal last week, exercising its option to globally license macrocyclic peptide growth hormone receptor antagonists with PeptiDream. The French biotech and Japanese biopharma first linked arms last December for undisclosed terms. The lead candidate in that program, being developed for acromegaly, a rare condition in which too much growth hormone is produced, is slated to enter human trials by the end of next year.
The latest funds will also go toward Amolyt's lead program, being tested in patients with hypoparathyroidism, a rare condition in which the parathyroid glands, in the neck, don't produce enough parathyroid hormones. That asset, AZP-3601, completed a multiple ascending dose as part of a phase 1 trial earlier this month, and results will be presented Oct. 1, the company said.
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Further down the pipeline, Amolyt has yet to select, or name, the specific metabolic indication for its third asset, AZP-3404.
Sectoral Asset Management and Andera Partners led the series B. Amolyt previously raised $75 million from Novo Ventures, OrbiMed, LSP, Kurma Partners and other venture groups in July 2019 under its former name, Alizé Pharma 3.