French pharma Amolyt nets €130 million series C co-led by Sofinnova Partners

Favourable phase 2a clinical data on Amolyt's lead therapeutic candidate has spawned a nine-figure raise, involving Sofinnova and Andera Partners among others.
French pharma Amolyt nets €130 million series C co-led by Sofinnova Partners

Amolyt Pharma, an Ecully, France-based pharma startup working on rare disease treatments, has closed a €130 million series C round.

Amolyt is targeting rare indications affecting the body's hormone supply from endocrine glands. The series C funds are aimed at launching phase 3 clinical development of its lead candidate eneboparatide, indicated for hypoparathyroidism, a rare disease affecting areas in the neck around the thyroid gland.

It follows promising phase 2a clinical data suggesting the peptide drug is well tolerated and potentially could allow patients to discontinue existing, standard-of-care treatments.

A second candidate, AZP-3813, is scheduled to address an endocrinal condition causing abnormal tissue and bone growths, known as acromegaly.

Commenting on the fundraise, Amolyt Pharma CEO Thierry Abribat 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.

"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.”

Sofinnova Partners and Intermediate Capital Group (ICG) co-led the series C round joined by two new investors: CTI Life Sciences and investor accounts managed by Tekla Capital Investment.

The round also includes EQT Life Sciences, Andera Partners and Novo Holdings, the corporate VC for the pharmaceuticals group Novo, investing alongside Kurma Partners, Bpifrance Innobio 2, Sectoral Asset Management, Pontifax, Orbimed, Mass General Brigham Ventures, ATEM, Credit Agricole Creation and Relyens Innovation Santé/Turenne Capital.

Cédric Moreau, partner at Sofinnova's Crossover I fund, added: "Amolyt is a strategic fit for our fund where we invest in companies that develop innovative medicines to address high unmet medical needs.

"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."

Moreau is set to join the board of directors in conjunction with the round, together with ICG managing director Toby Sykes.

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