Belgian amyloid fibrils specialist Amyl Therapeutics SA has got a €11n cash injection by existing and new investors and the Walloon region to advance its therapeutic platform.
Amyl Therapeutics SA has secured €5m Series A extension from long-term investors Merieux Equity Partners and Noshaq, together with Mr Evren Ucok as a new investor. In addition, the company cashed in €6.1m s a non-dilutive financing from the Walloon region. The financing will be used to accelerate the development of Amyl Therapeutics’s preclinical pipeline to treat neurodegenerative diseases and AL amyloidosis.
In March 2021, Amyl Therapeutics closed a €18.3m Series A financing round that included a €3.6m capital injection, €5.1m in kind funding and €2.2M in non-dilutive grants. THe Liege-based company develops novel molecules that conformationally bind to the amyloid fold of toxic protein aggregates of various types (amyloid-β (Aβ), Tau and alpha-synuclein) which accumulate in the brain, causing Alzheimer’s disease (AD), Parkinson’s disease (PD) and other neurodegenerative disorders (NDDs). It is also active on light chains (AL) or transthyretin (TTR) amyloid fibrils, which accumulate in peripheral organs, causing systemic amyloidosis. Amyl Therapeutics’s molecule’s ability to target all amyloid folds offers a major advantage over classical monoclonal antibodies.
The €5M supplementary funding will be used in the development of a strong preclinical proof-of-concept for Amyl’s lead therapeutic candidates by mid-2024, to treat NDDs caused by amyloid fibrils, and the move towards clinical development in AL amyloidosis.