Andera Partners participates in the $138 Million Series C Financing of Amolyt Pharma led by Sofinnova Partners and co-led by Intermediate Capital Group

 Funds will be used to complete phase 3 clinical development of eneboparatide (AZP-3601) for hypoparathyroidism, and advance AZP-3813 into the clinic for acromegaly.

Amolyt Pharma, a global company specialized in developing therapeutic peptides for rare endocrine and related diseases, today announced the closing of a €130 million (approx. $138M) Series C equity financing. The financing was led by Sofinnova Partners and co-led by Intermediate Capital Group (ICG). Cédric Moreau, partner at Sofinnova Partners and Toby Sykes, managing director at ICG, will join Amolyt’s Board of Directors. In addition, new investors, funds managed by Tekla Capital Investment LLC, and CTI Life Sciences along with existing investors Andera Partners, Novo Holdings (Novo Ventures), Kurma Partners, EQT Life Sciences, Innobio 2 managed by Bpifrance Investissement, Sectoral Asset Management, Pontifax, Orbimed, Mass General Brigham Ventures, ATEM, Credit Agricole Creation and Relyens Innovation Santé/Turenne Capital, participated in the round.

Amolyt plans to use the proceeds to advance its pipeline of therapeutics for rare endocrine and related disorders, including AZP-3601, now known as eneboparatide, for the treatment of hypoparathyroidism, and AZP-3813 for the 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, Ph.D., founder, and chief executive officer of Amolyt Pharma. “We are thankful to Sofinnova Partners and ICG for co-leading this financing round, and to all our new and existing investors for their confidence in our team and for their support of our strategy to build a global and sustainable rare disease company. This investment will allow us to continue working tirelessly on bringing novel, life-changing treatments to patients with rare endocrine and related diseases.”

Raphaël Wisniewski, partner in the Andera Life Sciences team, comments: “This exceptional financing confirms the dynamism of the life sciences sector in France and Europe today. We are delighted to participate in this round, which will enable Amolyt Pharma to make important advances in the treatment of rare endocrine diseases.”

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 (ASBMR).
  • 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% 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.

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