Adynxx, a San Francisco, CA-based clinical-stage pharmaceutical company, raised $16m in Series B financing round.
The round was led by new investor TPG Biotech, with participation from existing investor Domain Associates. In conjunction with the financing, Heath Lukatch, Ph.D., Partner and Managing Director at TPG Biotech, joined Adynxx’ Board of Directors.
The company intends to use the funds for the continued development of its lead program, AYX1 for the reduction of acute pain and prevention of chronic pain following surgery.
Led by Rick Orr, President and Chief Executive Officer, Julien Mamet, PhD, Founder and Chief Scientific Officer, and Donald C. Manning, MD, PhD, Chief Medical Officer, Adynxx develops a platform of therapeutics for the prevention and resolution of chronic pain at its molecular roots – preventing the development of pain following surgery and resolving established chronic pain conditions.
Its lead compound, AYX1, is an investigational drug designed to reduce acute post-surgical pain and prevent the transition to persistent or chronic pain with a single administration at the time of surgery. The company has completed a safety Phase 1 and two proof-of-concept Phase 2 clinical studies of AYX1. Additional AYX drug candidate compounds designed to address a range of intractable neuropathic and inflammatory pain syndromes are also in active development.