AFYX Therapeutics, a Copenhagen, Denmark- and San Diego, CA-based clinical stage biopharmaceutical company developing innovative approaches to treat mucosal diseases, closed a $13m USD convertible loan financing.
The round wwas led by Sofinnova Ventures, with participation from Novo Seeds and Lundbeckfonden Emerge.
The company intends to use the funds to advance the ongoing Phase 2b study of Rivelin®-CLO for the treatment of oral lichen planus, expansion of the Rivelin® platform into other mucosal diseases, and operational growth.
Led by Nishan de Silva, M.D., chief executive officer, AFYX Therapeutics has developed the Rivelin patch, a breakthrough technology for the treatment of mucosal diseases. Rivelin is designed to deliver a pharmaceutical drug uni-directionally to a mucosal surface using an occlusive, bioadhesive and biodegradable patch, with a long adhesion time and a high flexibility conforming to the mucosal surface. Rivelin-CLO, the first Rivelin product candidate, is being developed to treat the inflammatory disease oral lichen planus (OLP) through direct delivery of the drug clobetasol propionate.