Amplyx Pharmaceuticals, a San Diego, Calif.-based developer of antifungal agents, closed a $40.5m Series B financing.
The round was led by RiverVest Venture Partners, with participation from New Enterprise Associates, BioMed Ventures and individual investors. In conjunction with the financing, Niall O’Donnell, Ph.D., managing director, RiverVest Venture Partners, and Ed Mathers, partner, New Enterprise Associates, joined Amplyx’s board of directors.
The company, which has raised $42.5m in venture capital and received more than $10m in grants from the National Institutes of Health, intends to use the funds to advance the clinical development of APX001, its broad-spectrum antifungal agent to treat life threatening fungal infections.
Led by Mike Grey, president and CEO, Mitchell Mutz, Ph.D., founder and chief scientific officer, Ciara Kennedy, Ph.D., chief operating officer, and Susan Dube, vice president, business development and administration, Amplyx Pharmaceuticals is developing novel, broad-spectrum antifungal agents for the treatment of life-threatening fungal infections. The company’s lead compound, APX001, will enter clinical development in 2016 and has shown broad-spectrum activity in animal models of invasive fungal infection by common species of Candida and Aspergillus, as well as potency against rare, difficult-to-treat molds.