F2G completes $30M financing round for anti-fungal compounds

Thursday, September 6, 2012 07:48 AM

F2G, an antifungal drug discovery and development company based in Manchester, U.K., has completed a $30 million equity financing round, which will be used to select a clinical candidate from the F3 series of advanced preclinical analogs and proceed to first in man studies.

Two new investors joined the financing round: Advent Life Sciences and Novartis Bioventures. The existing syndicate included Sunstone Capital, Merifin Capital, K Nominees and Astellas Venture Fund.

The F3 series represents a proprietary group of compounds with highly potent and selective activity against Aspergillus species and other moulds, which act via a totally novel mechanism. Aspergillus infections are a serious threat in immune-compromised patient populations and result in a high rate of mortality even with the most effective treatment currently available.

"The F2G molecules show a compelling and novel profile and have the genuine potential to be first- and best-in-class agents for the treatment of invasive aspergillosis, which remains a serious unmet medical need,” said Parekh, general partner, Advent Life Sciences.

Parekh and Dr. Anja König of Novartis Venture Funds will both be joining the board of F2G.

Share:          
CWWeekly

March 23

Industry welcomes FDA draft guidance outlining the use of electronic Informed Consent for trials

Apple launches ResearchKit platform to tap millions of iPhone users to enroll in observational studies using apps

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

March

Novo Nordisk, Takeda, Servier, Celgene among top sponsors
New gains seen from patient- and site-centric initiatives

Patient reported outcomes take center stage
FDA combining PROs, clinical outcomes in its approval decisions

Already a subscriber?
Log in to your digital subscription.

Purchase the March issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

February

Study grants market breaks $13 billion
Volume of clinical activity rising while growth in grant spending slows

Revisiting eClinical Technology Solutions Adoption
While use of established solutions grows, sponsors hesitate on newer tools

Already a subscriber?
Log in to your digital subscription.

Purchase the February issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs