Clinical catalyst

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...