French biotech company Amolyt Pharma Series C round fetches $138m

Amolyt Pharma, a France-based clinical-stage biotechnology company, has secured €130 million (around $138 million) from a Series C equity financing round led by Sofinnova Partners and co-led by Intermediate Capital Group (ICG).

The French biotech company anticipates using the funding to advance its pipeline of therapeutics for rare endocrine and related disorders, including AZP-3601 and AZP-3813.

AZP-3601, now known as eneboparatide, is a long-acting PTH1 receptor agonist for the potential treatment of hypoparathyroidism while AZP-3813 is a peptide growth hormone receptor antagonist for the potential treatment of acromegaly.

Thierry Abribat — Amolyt Pharma founder and CEO, commenting on Amolyt Pharma Series C round said: “We are very pleased to complete this large Series C financing, which will enable us to build on our momentum with eneboparatide and accelerate the growth of Amolyt Pharma and its pipeline globally.

“This investment will allow us to continue working tirelessly on bringing novel, life-changing treatments to patients with rare endocrine and related diseases.”

Toby Sykes, managing director at Intermediate Capital Group, and Cédric Moreau, partner at Sofinnova Partners, will have a seat each on Amolyt Pharma’s Board of Directors.

Commenting on Amolyt Pharma Series C round, Cédric Moreau — Sofinnova Crossover I fund partner, said: “With its unique mechanism of action, Amolyt’s lead compound eneboparatide has the potential to significantly improve the lives of patients with hypoparathyroidism.

“With this Series C financing, we believe that Amolyt’s seasoned and passionate management team will be well-positioned to further evaluate eneboparatide’s differentiated profile through late-stage development and continue to grow its internal pipeline.

“We are committed to helping Amolyt become a leader in the rare endocrine space.”

The existing investors Andera Partners, Kurma Partners, Novo Holdings, Sectoral Asset Management, EQT Life Sciences, Pontifax, Innobio 2 managed by Bpifrance Investissement, Orbimed, ATEM, Credit Agricole Creation, Mass General Brigham Ventures and Relyens Innovation Santé/Turenne Capital have also participated in Amolyt Pharma Series C round.

Additionally, new investors, funds managed by Tekla Capital Investment and CTI Life Sciences have participated in the round.