Amolyt hauls in €130M round to fund PhIII trial of hypoparathyroidism drug
French-American biotech Amolyt Pharma has raised a €130 million ($138 million) Series C round, planning to use the cash to take its hypoparathyroidism drug into final-stage testing and move another experimental drug into the clinic.
The fundraise, which was led by VC firm Sofinnova Partners, comes less than a year and a half after the company’s $80 million Series B.
Last year, the company released data for the hypoparathyroidism drug, AZP-3601, showing that 93% of patients in a Phase IIa trial were able to discontinue the use of existing drugs. Patients with the disease produce too little parathyroid hormone, which can throw off the balance of calcium and phosphorus in the body. That can lead to twitching, fatigue, burning sensations and other symptoms.
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