F2G, a Manchester, UK-based clinical-stage biopharmaceutical company, raised $100M in funding.
The round was lewd by AMR Action Fund with participation from new investor ICG Life Sciences and existing investors Novo Holdings, Advent Life Sciences, Sofinnova Partners, Forbion, Blue Owl Healthcare Opportunities, Morningside Ventures, Brace Pharmaceuticals, and Merifin Capital. Henry Skinner, Ph.D., Chief Executive Officer of AMR Action Fund and Toby Sykes Ph.D., Managing Director of ICG Life Sciences, will join the F2G Board of Directors. The financing is subject to customary Foreign Direct Investment (FDI) clearance by local authorities in Austria, where F2G has a 100%-owned subsidiary, and expected to close in the fourth quarter of 2024.
The company intends to us the funds to complete late-stage development, seek regulatory approval, and prepare for commercialization in the US of olorofim, a novel oral antifungal therapy to treat invasive aspergillosis (IA) and other invasive fungal infections.
Led by CEO Francesco Maria Lavino, F2G is a clinical-stage biopharmaceutical company with operations in the UK, US, and Austria, focused on the discovery and development of novel therapies to treat potentially life-threatening invasive fungal infections. It has discovered and developed a completely new class of antifungal agents called the orotomides, which selectively target a key enzyme in the de novo pyrimidine biosynthesis pathway.
Olorofim is the first orotomide antifungal, an entirely novel class of antifungal agents and is the only antifungal medication to be awarded a Breakthrough Therapy Designation for multiple indications by the US Food and Drug Administration (FDA). Olorofim works through a novel mechanism of action, different from existing classes of antifungals, exerting fungicidal activity through inhibition of the pyrimidine synthesis pathway. It is anticipated to be used to treat patients with a serious invasive, rare fungal disease where existing treatments are inappropriate or no longer effective.
FinSMEs
13/09/2024