San Diego's Amplyx Pharmaceuticals boosted its Series B fundraise to $49.2 million and expanded its executive ranks on pace to take its lead antifungal treatment into human trials this year.
The company's latest financing comes on the heels of a $40.5 million round disclosed in November, adding 3x5 Partners to an investor syndicate that includes RiverVest Venture Partners, New Enterprise Associates and BioMed Ventures.
With the new funds, Amplyx says it has the cash it needs to get the antifungal agent APX001 through Phase I. The company is planning to expand development to cover a range of infections in Phase II by 2017.
In tandem with the fundraise, Amplyx has recruited Pfizer ($PFE) anti-infective veteran Michael Hodges as chief medical officer, former Trius Therapeutics executive Karen Shaw as vice president of biology and ex-Lumena Pharmaceuticals regulatory head Elizabeth Gordon to serve in the same role.
Amplyx has been around for about a decade, developing technology designed to improve the efficacy of small-molecule therapies. The company ramped up its operations last year, recruiting former Lumena CEO Mike Grey to take the reins and putting together its B round.
The company has remained quiet about APX001's mechanism of action, saying only that the drug has shown preclinical activity against Candida, Aspergillus and some rare molds. Amplyx is working up both oral and intravenous formulations of the treatment with eyes on in-hospital and outpatient administrations.
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