Novo Holdings participates in portfolio company Amolyt Pharma’s $138 million financing

January 9, 2023
  • Amolyt is developing therapeutic peptides for rare endocrine and related diseases, including AZP-3601 (eneboparatide) for hypoparathyroidism
  • Proceeds will fund the Phase 3 programme for hypoparathyroidism, as well as its growing endocrine pipeline

Copenhagen, Denmark – Novo Holdings A/S, a leading international life sciences investor, has announced it has invested in a €130 million (approx. $138 million) Series C Financing by its portfolio company, Amolyt Pharma SAS.

The financing was co-led by Sofinnova Partners and Intermediate Capital Group along with new investors, funds managed by Tekla Capital Investment LLC and CTI Life Sciences. Other existing investors Andera Partners, Kurma Partners, EQT Life Sciences, Innobio 2 managed by Bpifrance Investissement, Sectoral Asset Management, Pontifax, Orbimed, Mass General Brigham Ventures, ATEM, Credit Agricole Creation and Relyens Innovation Santé/Turenne Capital also joined in the round.

Amolyt, based in Lyon, France and Boston, US, specialises in developing therapeutic peptides for rare endocrine and related diseases. Novo Ventures, the venture capital team at Novo Holdings, co-led the Series A financing into Amolyt, invested in the Series B and C financings, and is now the largest investor in the Company.  Amolyt plans to use the proceeds to advance its pipeline of therapeutics for rare endocrine and related disorders, including AZP-3601 (eneboparatide) for the treatment of hypoparathyroidism, and AZP-3813 for the treatment of acromegaly.

“We are very pleased to complete this large Series C financing, which will enable us to build on our momentum with eneboparatide and accelerate the growth of Amolyt Pharma and its pipeline globally,” stated Thierry Abribat, Ph.D., Founder and Chief Executive Officer of Amolyt Pharma. “We are thankful to our investors for their confidence in our team and for their support of our strategy to build a global and sustainable rare disease company. This investment will allow us to continue working tirelessly on bringing novel, life-changing treatments to patients with rare endocrine and related diseases.”

Naveed Siddiqi, Board Director of Amolyt and Senior Partner at Novo Holdings, said: “We invested in Amolyt in 2019 when eneboparatide was still at preclinical stage.  It is fantastic to see the company making rapid progress in developing a rare endocrine disease drug for hypoparathyroidism, where there is high unmet need and a significant market opportunity.  Amolyt is a great example of a high quality, late stage private European company with a stellar management team and the investment from this blue chip syndicate of life sciences investors is an endorsement of confidence in European life sciences.”

The Series C financing follows several recent positive pipeline development and corporate announcements, including positive Phase 2a efficacy and safety data announced at the American Society for Bone and Mineral Research 2022 Annual Meeting (ASBMR) in September 2022. In October 2022, the Company announced positive results from the second patient cohort in its Phase 2a clinical proof of concept trial of eneboparatide.

For further information:

Optimum Strategic Communications

Mary Clark, Richard Staines, Eleanor Cooper

+44 (0) 20 8078 4357

novo@optimumcomms.com

About Amolyt Pharma SAS

Amolyt Pharma, a clinical stage biotechnology company, is building on its team’s established expertise in therapeutic peptides to deliver life-changing treatments to patients suffering from rare endocrine and related diseases. Its development portfolio includes AZP-3601, a long-acting PTH analog as a potential treatment for hypoparathyroidism, and AZP-3813, a peptide growth hormone receptor antagonist for the potential treatment of acromegaly. Amolyt Pharma aims to further expand and develop its portfolio by leveraging its global network in the field of endocrinology and with support from a strong syndicate of international investors. To learn more, visit https://amolytpharma.com/ or follow on Twitter and LinkedIn.

About Novo Holdings

Novo Holdings is a holding and investment company that is responsible for managing the assets of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk and Novozymes (the Novo Group companies) and manages an investment portfolio, with a long-term return perspective. Novo Holdings invests in life science companies of all stages of development and also manages a broad portfolio of equities, bonds, real estate and infrastructure assets as well as private equity investments. As of year-end 2021, Novo Holdings had total assets of USD 106 billion. Further information: www.novoholdings.dk.