Atlantic Healthcare plc, a Cambridge, UK-based international specialty pharma company focusing on gastrointestinal disorders, raised $24m in equity financing.
Backers included the founders of Salix Pharmaceuticals, Fullbrook Thorpe Investments LLP (the family investment arm of Andy Leaver, founder of Clinigen Group plc), LDC (the private equity division of Lloyds Banking Group plc) and existing investors. In conjunction with the funding, Dr Lorin K Johnson joined
the Board of Directors and as a member of the Leadership team as Chief Scientific Advisor.
The company intends to use the capital to conduct the Phase 3 trial for alicaforsen enema, its product to treat Inflammatory Bowel Disease (IBD) pouchitis, as well as to fund regulatory filings for approval with the U.S. FDA, EMA, and Health Canada.
Led by Toby Wilson Waterworth, CEO and founder, Atlantic Healthcare is an international specialty pharmaceutical company focused on diseases of the gastrointestinal tract and Inflammatory Bowel Disease (IBD). The company’s lead product is alicaforsen enema, in Phase 3 development for pouchitis, and in preparation for Phase 3 clinical development for Ulcerative Colitis. Alicaforsen is also generating early repeat revenues in Europe through Named Patient Supply protocols. The company has FDA and EMA orphan designation, and an FDA letter of fast-track in pouchitis.
In addition, Atlantic Healthcare is targeting the use of alicaforsen for the treatment of other inflammatory bowel diseases including left-sided (distal) colitis.