BELGIUM—Amyl Therapeutics, a biotechnology company developing treatments for diseases associated with amyloid fibrils, has raised €8.25 million (US$9.4 million) through an extension of its Series A financing.
The company said half of the funding came from public grants, while the remainder came from new private investors, including undisclosed family offices and business angels, as well as existing shareholders Noshaq and Merieux Equity Partners.
The financing comes as European biotechnology companies continue to face selective funding conditions, particularly at the early development stage.
Amyl Therapeutics said the investment will support the final development of its clinical candidate and provide additional data needed to advance its technology toward clinical testing.
The company plans to use the proceeds to complete the characterization of its lead candidate and prepare it for good manufacturing practice (GMP) production.
It will also conduct further preclinical studies to assess the candidate’s efficacy and safety in animal models.
Company expands research operations
The new financing will also support Amyl Therapeutics’ expansion.
One of the new family office investors will join the company’s board of directors.
Amyl Therapeutics will expand its laboratory facilities at the LegiaPark life sciences campus in Liège, Belgium, to accommodate its growing research programme.
The company also plans to double the size of its research and development team.
Pierre Vandepapelière, co-founder, chief executive officer and chief medical officer of Amyl Therapeutics, said the financing would help the company reach the next stage of development.
“Our results already demonstrate that our fusion protein combines the therapeutic strengths of three monoclonal antibodies while addressing key limitations in brain delivery and safety,” he said.
Single therapy targets multiple amyloid proteins
Amyl Therapeutics is developing a fusion protein designed to recognize a common amyloid structure found in several toxic protein aggregates.
These include amyloid beta, tau and alpha-synuclein, which are associated with Alzheimer’s disease, Parkinson’s disease and other neurodegenerative disorders.
Unlike conventional antibody treatments that typically target one pathological protein, the company’s approach is designed to act against multiple amyloid aggregates using a single therapy.
The platform also incorporates a brain shuttle technology intended to improve the movement of therapeutic molecules across the blood brain barrier.
The company has further designed its candidate to reduce the risk of amyloid related imaging abnormalities and anemia, which have been reported with some existing anti amyloid beta antibody treatments.
Investors back continued development
Valérie Calenda, managing partner at Merieux Equity Partners, said the company had continued to support Amyl Therapeutics because of the potential of its platform and progress toward key scientific milestones.
Since its launch in March 2021, Amyl Therapeutics has raised €27.85 million (US$31.7 million) in total funding.
This includes €10.8 million raised at launch, €5 million from shareholders during 2023 and 2024, and €3.8 million in non-dilutive funding from the Walloon Region.
Noshaq investment manager Hélène Sabatel said the investor remained committed to supporting the company as it advances its in vivo development milestones.
THM Capital Advisory advised Amyl Therapeutics on the financing, with Quinz providing legal counsel and Financial Way providing legal and financial support.
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