Amyl Therapeutics closes €18.3 million Series A financing to develop novel therapies for Amyloidosis

Funds will be used to advance amyloid fibrils specific ClariTY technology platform as a potential best-in-class therapy for patients with Amyloidosis

LIEGE, Belgium, June 3, 2021 /PRNewswire/ -- Amyl Therapeutics ('Amyl'), a preclinical stage biotechnology company developing its amyloid fibrils specific technology platform named ClariTY for the treatment of all forms of Amyloidosis, today announced that it has successfully closed a €18.3 million Series A financing. The funding round comprises €8.6 million in equity led by Noshaq - a regional Belgian private-public fund - with support from Merieux Participations, Sambrinvest and other private investors; and €9.7 million in non-dilutive funding from the DG06 – a key policy-design and implementing body for research and innovation policy in the Walloon region of Belgium.

Dr. Pierre Vandepapelière, Chief Executive Officer (CEO) and Chief Medical Officer (CMO), and Dr. Karine Goraj, Chief Scientific Officer (CSO), both veterans in the field of pharmaceutical development, will lead the team.

Amyl will use the funds to progress the discovery and preclinical development of therapeutic candidates that are able to target multiple misfolded proteins implicated in both progressive peripheral and neurodegenerative rare diseases. With the funds raised Amyl Therapeutics expects to generate strong preclinical proof of concept for its lead therapeutic candidates and to set up a production process as part of its clinical readiness. 

Amyloidosis is a group of diseases characterized by an endogenous production of misfolded proteins that aggregate as insoluble amyloid fibrils and form deposits in various organs and tissues, resulting in organ dysfunction, serious morbidity and even death. More than 30 of such proteins have been identified as amyloid precursors in humans. These are grouped into localized forms, and systemic ones with the most common types of systemic amyloidosis being: "light chain" (AL) amyloidosis, hereditary and old age transthyretin (ATTR) amyloidosis and inflammatory amyloidosis with protein A (AA).

There are currently between 30,000 and 45,000 patients suffering from AL amyloidosis in the USA and Europe, which is the most common form of the disease, affecting about 70% of all patients diagnosed with systemic amyloidosis. At present, there is no effective treatment for established amyloidosis diseases.

Dr. Pierre Vandepapelière, Co-Founder, CEO and CMO of Amyl Therapeutics, said "We are excited to have raised this Series A financing from a syndicate of high-quality and international investors. The ClariTY platform offers the unique opportunity to generate therapeutic candidates able to target all amyloid fibril deposits, a key cause of amyloidosis. We believe novel therapies with this profile will represent a major advance in the treatment of diseases caused by amyloid fibrils and will have a significant competitive advantage."

Dr. Karine Goraj, CSO of Amyl Therapeutics, said "The ClariTY platform provides a unique and powerful tool for treating amyloidosis, for which treatment options are very limited today.  By developing therapeutic solutions that could not only stop progression but also remove existing amyloid deposits in organs, we hope to be part of the solution to treat a large populations of Amyloidosis patients."

Gaetan Servais, CEO of Noshaq, added "Our equity investment in Amyl represents a significant opportunity to participate in the development of what we believe is an exciting technology for the treatment of Amyloidosis. We are pleased to welcome the Company to set up its operations in Liege with the objective of fostering collaborations with other players in the region."

Dr. Valérie Calenda, Managing Partner at Merieux Equity Partners, commented "We are pleased to support such a great team and to get the opportunity to bring new drug candidates against these diseases into clinical development."

"Investing in Amyl Therapeutics alongside Noshaq and other partner funds was a no brainer. We have faith in the management and their team to find effective treatments to tackle all forms of Amyloidosis," adds Helena Pozios, Head of Biotech at Sambrinvest.

Following the closing of the financing, Dr. Pierre Vandepapelière (Amyl's Co-Founder, CEO and CMO), Florent Gros (Amyl's Co-Founder and Chairman), Dr. Valérie Calenda (Managing Partner at Merieux Equity Partners), Kenneth Buckfire (President of Miller Buckfire & Co.) and Amel Tounsi (Investment Manager at Noshaq) have joined the Board of Directors.

About Amyl Therapeutics - www.AmylTx.com

Amyl Therapeutics uses a novel mechanism to bind to the amyloid fold of toxic protein aggregates of various types, including antibody light chain (AL) or transthyretin (TTR) aggregates, which accumulate in peripheral organs to cause systemic amyloidosis diseases, but also amyloid-β (Aβ), Tau, and α-synuclein aggregates, which accumulate in the brain to cause Alzheimer's and Parkinson's diseases. Therapies based on the ClariTY technology platform are designed to prevent the further accumulation of aggregates and clear existing aggregates from the peripheral organs and the brain, while also blocking further cell-to-cell spread of misfolded proteins. These therapies may offer a breakthrough approach to treat protein misfolding diseases.

Headquartered in Liège, Belgium, Amyl Therapeutics was founded in November 2020 by Drs. Florent Gros and Pierre Vandepapelière.

Founding investors are Noshaq, Merieux Participations, Smedvig Funds, Ifoghas investments, JFG Life Science Foundation, Mr. Kenneth Buckfire and 6K Venture Capital.

About Noshaq - www.noshaq.be

Noshaq is a Belgian investment fund and project developer with a portfolio of 464 companies and 600 million euros of resources. Noshaq is the reference financial partner for the creation and development of SMEs in the Liege Region (Wallonia). Over the years, Noshaq has developed a range of financing vehicles in line with the needs and trends of the market and its strategy. Each service offered by Noshaq (capital - loan - leasing) is always determined according to the demand and needs of the owner-investor. The objective is always to have a leverage effect on the company's development.

About Sambrinvest - www.sambrinvest.be

With over 35 years of experience working alongside companies and entrepreneurs, more than 280 portfolio companies and 170 million euros in assets under management, Sambrinvest is a major venture capital player in Wallonia. More than an investment fund, Sambrinvest is also a catalyst for the development of local ecosystems, such as biotech, digital and engineering.

About Merieux Equity Partners - www.merieux-partners.com

Merieux Participations is managed by Merieux Equity Partners ("MxEP"). MxEP is a management company accredited by the French Financial Markets Authority and dedicated to equity investments in the health and nutrition sector. MxEP actively supports entrepreneurs and companies with differentiated products and services, giving them privileged access to its sector expertise and international network. MxEP currently manages over €1 billion in assets and has just launched its fifth vehicle, dedicated to growth capital/LBO investments, with a target size of €500 million.

Contacts:

Amyl Therapeutics
Dr Pierre Vandepapelière, CEO
E: p.vandepapeliere@amyltx.com  

Citigate Dewe Rogerson
Sylvie Berrebi, Nathaniel Dahan PhD
E: Amyltx@citigatedewerogerson.com  
T: +44 (0)7714 306525