Biotechnology company Elion Therapeutics of New York City announced yesterday that it has closed an $81 million funding round to advance development of its next-generation polyene antifungal candidate, SF001.
SF001 is a novel analog of the antifungal amphotericin B that's been designed to reduce systemic toxicities and has demonstrated potent in vitro fungicidal activity and in vivo efficacy. In 2023, the compound received Qualified Infectious Disease Product and Fast Track designations from the US Food and Drug Administration for early antifungal therapy of presumed invasive fungal infection (IFI) and treatment of invasive aspergillosis.
Amphotericin B is a widely used, broad-spectrum polyene antifungal, but its use is associated with kidney toxicity.
Rising levels of invasive fungal infections
"Invasive fungal infections have reached historic levels of concern, largely due to increased medical reliance on biologic immunosuppression, more people with severe pulmonary disease at risk of IFI, and increased exposures associated with environmental changes," Kieren Marr, MD, MBA, Elion's president and chief medical officer, said in a company press release. "As we move into the next stage of our clinical program, we're optimistic about the potential of SF001 to deliver antifungal treatment with reduced toxicity and the potential to address critical challenges with currently available options."
The $81 million funding round includes investments from the AMR Action Fund, a public-private partnership established in 2020 to provide financial and technical support to small biotech companies developing novel antibiotics. It's the fund's first investment in an antifungal company.
"With resistance to existing antifungals growing and infection rates increasing, it is essential that we develop effective therapies for patients in need," said AMR Action Fund CEO Henry Skinner, PhD, MBE. "We are pleased to support the team at Elion and believe their work could deliver an important treatment for patients suffering from devastating fungal infections."