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Andera Partners participates in the $138 Million Series C Financing of Amolyt Pharma led by Sofinnova Partners and co-led by Intermediate Capital Group

EQS-News: Andera Partners / Key word(s): Financing
Andera Partners participates in the $138 Million Series C Financing of Amolyt Pharma led by Sofinnova Partners and co-led by Intermediate Capital Group
09.01.2023 / 14:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

Andera Partners participates in the $138 Million Series C Financing of Amolyt Pharma led by Sofinnova Partners and co-led by Intermediate Capital Group

Funds will be used to complete phase 3 clinical development of eneboparatide (AZP-3601) for hypoparathyroidism, and advance AZP-3813 into the clinic for acromegaly.

PARIS, 9 JANUARY 2023 – Andera Partners, a leading European private equity player, announced today that its portfolio company Amolyt Pharma, a global company specialized in developing therapeutic peptides for rare endocrine and related diseases, closed a €130 million (approx. $138M) Series C equity financing. The financing was led by Sofinnova Partners and co-led by Intermediate Capital Group (ICG). Cédric Moreau, partner at Sofinnova Partners and Toby Sykes, managing director at ICG, will join Amolyt’s Board of Directors. In addition, new investors, funds managed by Tekla Capital Investment LLC, and CTI Life Sciences along with existing investors Andera Partners, Novo Holdings (Novo Ventures), Kurma Partners, EQT Life Sciences, Innobio 2 managed by Bpifrance Investissement, Sectoral Asset Management, Pontifax, Orbimed, Mass General Brigham Ventures, ATEM, Credit Agricole Creation and Relyens Innovation Santé/Turenne Capital, participated in the round.

Amolyt plans to use the proceeds to advance its pipeline of therapeutics for rare endocrine and related disorders, including AZP-3601, now known as eneboparatide, for the treatment of hypoparathyroidism, and AZP-3813 for the treatment of acromegaly. 

“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,” stated Thierry Abribat, Ph.D., founder, and chief executive officer of Amolyt Pharma. “We are thankful to Sofinnova Partners and ICG for co-leading this financing round, and to all our new and existing investors for their confidence in our team and for their support of our strategy to build a global and sustainable rare disease company. This investment will allow us to continue working tirelessly on bringing novel, life-changing treatments to patients with rare endocrine and related diseases.”

Raphaël Wisniewski, partner in the Andera Life Sciences team, comments: “This exceptional financing confirms the dynamism of the life sciences sector in France and Europe today. We are delighted to participate in this round, which will enable Amolyt Pharma to make important advances in the treatment of rare endocrine diseases.”

The Series C financing follows several recent positive pipeline development and corporate announcements:

  • In September 2022, Amolyt presented positive efficacy and safety data from the first cohort of its Phase 2a study of eneboparatide at the American Society for Bone and Mineral Research 2022 Annual Meeting (ASBMR).

  • In October 2022, the company announced positive results from the second patient cohort in its Phase 2a clinical proof of concept trial of eneboparatide. Consistent with the findings from the first cohort of the study, eneboparatide was well-tolerated. Daily administration of eneboparatide over 3 months enabled 93% of patients to discontinue standard of care therapy (oral calcium and vitamin D supplementation) while mean serum calcium was maintained within the target range. 24-hour urinary excretion of calcium was rapidly normalized in all but one patient, including those with hypercalciuria at baseline. Bone turnover biomarkers, P1NP and CTX, increased after two weeks of treatment and remained within their mid-normal range through the end of the study, consistent with a balanced increase in bone turnover.

ABOUT AMOLYT PHARMA

Amolyt Pharma, a clinical stage biotechnology company, is building on its team’s established expertise to deliver life-changing treatments to patients suffering from rare endocrine and related diseases. Its development portfolio includes eneboparatide (AZP-3601), a long-acting PTH1 receptor agonist as a potential treatment for hypoparathyroidism, and AZP-3813, a peptide growth hormone receptor antagonist for the potential treatment of acromegaly. Amolyt Pharma aims to further expand and develop its portfolio by leveraging its global network in the field of endocrinology and with support from a strong syndicate of international investors. To learn more, visit www.amolytpharma.com or follow us on Twitter and LinkedIn.

ABOUT ANDERA PARTNERS

Created over 20 years ago, Andera Partners is a major player in private company investments in France and internationally. Its teams manage over €3.7 billion in investments in life sciences (Andera Life Sciences), growth and buyout capital (Andera MidCap, Andera Expansion, Andera Croissance, Andera Co-Invest), sponsorless transactions (Andera Acto) and ecological transition (Andera Infra).

Based in Paris, with offices in Antwerp and Munich, Andera Partners is wholly owned by its teams, which count nearly 100 professionals, of which 60 are investment professionals. It is structured as a partnership and managed by a board of 12 partners. Responsible and committed, the management company regularly forms partnerships with non-profit sector entities and takes concrete action in the fight against global warming. Andera Partners has been certified carbon neutral since 2018.

Andera's 15-person life sciences team brings together extensive experience in the life sciences industry, private equity and venture capital. Active since 2000, the team has raised over €1.1 billion through its BioDiscovery family of funds and is currently investing from its new BioDiscovery 6 fund. Since inception, the BioDiscovery funds have invested in more than 75 European and U.S. biotech and medtech companies.

For further information, please visit www.anderapartners.com.

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09.01.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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