F2G announce development and commercialisation for rare antifungal treatment
F2G, a clinical-stage biopharmaceutical company, has announced that it can now bring a fourth antifungal class to the market. Currently, there are only three classes of antifungal treatments.
F2G has secured $70 million in financing to produce the new antifungal treatment, though it has yet to unveil data from its open Phase IIb study in patients with rare and resistant moulds. The company has shared that it plans to unveil results in October 2022.
The funding will enable F2G to advance latestage development and commercialisation in the US of olorofim, a novel oral antifungal therapy to treat invasive aspergillosis (IA) and other rare mould infections.
However, the results from the Phase IIb trial have already secured the company FDA breakthrough therapy, qualified infectious disease product, and orphan drug designations.
F2G is focused on the discovery and development of novel therapies to treat life-threatening rare fungal infections with a high unmet medical need.
Francesco Maria Lavino, CEO of F2G, said: “We are delighted to attract this additional capital from such high calibre late-stage investors to F2G, and welcome Nanna and Joe to the Board. Their experience will be invaluable as we move to our next stage of growth.
“This is a pivotal year for the Company. We are building a world class team with commercial, operational, and deal-making experience as we prepare for final development and commercialisation of olorofim in the US. If approved, olorofim is expected to be the first new class of anti-fungal with a novel, differentiated mechanism of action in more than 20 years and will address genuine unmet needs in conditions with high morbidity and mortality.”
Nanna Lüneborg, General Partner at Forbion, commented: “The Forbion Growth Opportunities Fund II focuses on promising late-stage European life sciences companies like F2G. We have been very impressed with the significant progress achieved to date, and we are pleased to support this highly impactful company in its next stage of growth as it pursues commercialisation of olorofim in the US.”
Olorofim exerts fungicidal activity through inhibition of the pyrimidine synthesis pathway. It is anticipated to be used to treat patients with a serious, invasive, rare fungal disease where existing treatments are inappropriate or no longer effective.
Joe Anderson, Partner at Sofinnova Partners, said: “We aim to support outstanding companies developing innovative treatments for life-threatening disease. With its highly experienced team, F2G has made significant progress over recent years, and is now close to bringing its breakthrough product to market for patients with limited treatment options. We look forward to working with management, the board, and our co-investors, as the company moves into this important phase in its development and growth.”
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