Monday, June 24, 2019

AFYX Therapeutics Finds $13M In Convertible Note

San Diego-based biopharmaceuticals startup AFYX Therapeutics announced this morning that it has raised $13M in a convertible loan financing. The note came from Sofinnova Ventuers, which led the investment, and also included Nova Seeds and Lundbeckfonden Emerge. AFYX Therapeutics is developing treatments for mucosal diseases, with its lead compound aimed at treatment of oral lichen planus. The company is currently in an ongoing, Phase 2B study. According to the company, the new convertable loan will support that Phase 2b study, as well as for expansion of its platform into other mucosal diseases, and operational growth. AFYX Therapeutics is lead by CEO Nishan de Silva, M.D., and previously known as Dermtreat. More information »