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12:00 AM
 | 
Nov 16, 2015
 |  BioCentury  |  Finance

Clinical catalyst

How an in-licensed antifungal allowed Amplyx to raise its series B

After in-licensing an antifungal for $1.5 million in January, Amplyx Pharmaceuticals Inc. has used the asset to attract its first venture money in over five years and recruit a new management team focused on product - rather than platform - development. Next up is proving the molecule's undisclosed mechanism confers improvements over competing classes.

Last week Amplyx raised $40.5 million in a series B round led by RiverVest Venture Partners. Other investors included New Enterprise Associates, BioMed Ventures and undisclosed individuals.

Amplyx completed a $2.3 million series A round in 2010 and has subsisted on that plus about $10 million in NIH...

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