Date: 2016-06-20
Type of information: Financing round
Company: F2G (UK)
Investors: Sectoral Asset Management (Canada) Novo A/S (Denmark) Aisling Capital (USA - NY) Brace Pharma Capital (USA - MD) Advent Life Sciences (UK) Novartis Venture Fund (Switzerland) Sunstone Capital (Denmark) Merifin Capital (UK)
Amount: $60 million (€ 52.8 milion)
Funding type: financing round
Planned used: The funds will be used to advanced F2G's lead compound F901318, a novel clinical stage candidate for the treatment of invasive aspergillosis and other serious rare mould infections, to completion of a pivotal registration study, and to further develop earlier stage assets in its pipeline. F901318, is a new antifungal agent from the novel orotomide class. The orotomides are active against Aspergillus and other rare and resistant moulds and act via a completely different mechanism than currently marketed antifungal agents. Preclinical data have already shown that F901318 has a good potential to treat Aspergillus infections. This new candidate has been tested against a large panel of Aspergillus strains which were recovered from patients in Austria and in the UK. Four isolates of Aspergillus which represent the most common species were tested and were highly susceptible to F901318 with all MICs < 0.03 mg/L.
A small PK Phase 2 clinical trial for F901318 is planned for 2H 2016 with pivotal registration trials in Invasive Aspergillosis planned for 1H 2017 based on an accelerated regulatory pathway agreed with the relevant agencies.
Others: * On June 20, 2016, F2G, a UK-based antifungal drug discovery and development company, announced that it has raised $60 million in financing to develop its pipeline of novel therapies to treat life threatening invasive fungal infections. The round was led by Sectoral Asset Management, with participation from Novo A/S, Aisling Capital and Brace Pharma Capital. Existing investors Advent Life Sciences LLP, Novartis Venture Fund, Sunstone Capital and Merifin Capital each participated in the round. Dr Maha Katabi, Private Equity Partner at Sectoral Asset Management and Dr Martin Edwards, Senior Partner at Novo A/S will join the F2G Board of Directors.
Therapeutic area: Infectious diseases
