Amphista Therapeutics, a Glasgow, Scotland, UK-based leader in next generation targeted protein degradation (TPD) approaches, closed a $53m (£38m) Series B financing round.
The round was co-led by Forbion and Gilde Healthcare with participation from Novartis Venture Fund, and Eli Lilly and Company, and existing investor BioMotiv and founding investor Advent Life Sciences. In association with this financing, Amphista has added the following leading life science executives to the Board: Stefan Luzi, Partner at Gilde Healthcare; Rogier Rooswinkel, Partner at Forbion; and Florian Muellershausen, Managing Director at Novartis Venture Fund.
The company intends to use the funds to accelerate its pipeline of potent and selective bifunctional molecules, known as ‘Amphistas’ to the clinic and to extend its proprietary TPD platform.
Led by CEO Nicola Thompson, Amphista Therapeutics is a biopharmaceutical company creating therapeutics that harness the body’s natural processes to selectively and efficiently degrade and remove disease-causing proteins. The company’s pipeline of novel targeted protein degradation (TPD) based medicines is focused on challenging diseases including cancer.
Founded by Advent Life Sciences, the company is a spin-out of TPD expert Professor Alessio Ciulli’s labs at the University of Dundee.