- Funds to
support the advancement of SF001, a next-generation polyene
antifungal designed for reduced toxicity
NEW YORK, June 17, 2024 /PRNewswire/ -- Elion
Therapeutics ("Elion", formerly Sfunga Therapeutics), a
biotechnology company dedicated to transforming the treatment of
life-threatening invasive fungal infections (IFIs), announced today
it has closed a $81 million Series B
funding round led by Deerfield
Management ("Deerfield")
and the AMR Action Fund. Additional investors include Illinois
Ventures.
Elion's clinical-stage candidate, SF001, a next-generation
polyene antifungal, completed a first-in-human single-ascending
dose study and is now being evaluated in a multiple-ascending dose
study. The active molecule is a novel analog of the
antifungal amphotericin B (AmB), rationally designed to mitigate
systemic toxicities. In 2023, SF001 received Qualified Infectious
Disease Product (QIDP) and Fast Track designations from the U.S.
Food and Drug Administration (FDA) for early antifungal therapy of
presumed invasive fungal disease and treatment of invasive
aspergillosis.
"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," said Kieren Marr, M.D.,
M.B.A., Elion's President and Chief Medical Officer. "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."
Elion is led by Dr. Marr and a highly experienced team of
experts who have been instrumental in the development of most
currently available antifungal agents. Dr. Marr, co-founder of
Elion and international expert in fungal diseases, served as
Director of Transplant and Oncology Infectious Diseases at
Johns Hopkins University School of
Medicine until 2022, when she became Elion's Chief Medical
Officer and recruited the leadership team as it stands today.
"The speed of development of SF001 to date has been impressive
and is a testament to the world-class leadership team established
at Elion," said James Flynn,
Managing Partner, Deerfield Management. "Fungal infections are a
growing medical concern globally, and we have an opportunity with
this therapeutic candidate to address millions of disease cases and
preventable deaths that occur every year. We are excited to support
this mission and confident that this financing will provide the
runway to achieve Elion's clinical development goals."
"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. "The World
Health Organization recently identified four fungal pathogens that
it considers a 'critical priority,' including Aspergillus
fumigatus. 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."
ABOUT INVASIVE FUNGAL INFECTIONS
More than 150 million
people suffer from serious fungal infections worldwide. Severe,
life-threatening fungal infections result in approximately 2.5
million annual deaths globally. IFIs typically occur in individuals
with compromised immune systems due to HIV/AIDS, cancer therapies
or organ transplants, or those with severe lung disease, especially
those caused by influenza and SARS CoV-2 infections. Only four
classes of antifungal drugs are currently available, and antifungal
resistance, organ toxicities, and drug-drug interactions complicate
IFI treatment. This group of drugs includes AmB, a highly
efficacious natural product widely used since the 1950s to treat a
variety of fungal infections. However, AmB also causes kidney
impairment, occurring in up to 80 percent of patients. SF001 was
rationally designed to mitigate renal toxicities through increased
specificity to fungal cells.
ABOUT ELION THERAPEUTICS
Elion Therapeutics is a
cutting-edge biotechnology company dedicated to transforming the
treatment of life-threatening IFIs. Elion was founded on the belief
that mechanistic insights enable targeted optimizations of natural
products. Today, Elion is advancing the first polyene antifungal
rationally designed to mitigate toxicities and potentially
transform the future of polyene therapy. For more information,
please visit www.eliontx.com.
ABOUT DEERFIELD
MANAGEMENT
Deerfield is an
investment management firm committed to advancing healthcare
through investment, information and philanthropy. The Firm works
across the healthcare ecosystem to connect people, capital, ideas
and technology in bold, collaborative and inclusive ways. For more
information, please visit www.deerfield.com.
Deerfield contact:
Rachel Pelletier
rpelletier@apcoworldwide.com
(440) 409-6274
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SOURCE Deerfield Management