Aptinyx Raises $70 Million in Series B Financing
December 18, 2017
EVANSTON, Ill., Dec 18, 2017 –Aptinyx Inc., a clinical-stage biopharmaceutical company developing transformative therapies for challenging neurologic disorders, today is announcing the completion of a $70 million Series B financing to fund advancement of its expanding clinical-stage pipeline.
The financing was led by Bain Capital Life Sciences. Additional new investors include Adage Capital, Agent Capital, HBM Healthcare Investments, Nan Fung Life Sciences, Partner Fund Management, and Rock Springs Capital. Existing investors also participated in the Series B round, including New Leaf Venture Partners, Frazier Healthcare Partners, Longitude Capital, Osage University Partners, Adams Street Partners, LVP Life Science Ventures, PathoCapital, Goudy Park Capital, Beecken Petty O’Keefe & Company, and Northwestern University.
“This financing will provide fuel for our growing pipeline as we continue to develop our innovative and differentiated NMDA receptor modulators for the treatment of a variety of neurologic disorders with high unmet medical need,” said Norbert Riedel, Ph.D., president and chief executive officer of Aptinyx. “We are delighted by the support of this syndicate of highly respected global investors with extensive domain expertise, which will be valuable as we advance our pipeline toward late-stage development in multiple indications.”
Concurrent with the financing, Adam M. Koppel, M.D., Ph.D., a managing director of Bain Capital Life Sciences, has joined the Aptinyx board of directors.
“Aptinyx is leading a renaissance in neurotherapeutic drug development with its prolific drug discovery platform, unique mechanism of action relevant in a number of challenging neurologic disorders, and ability to quickly advance drug candidates,” said Dr. Koppel. “We are eager to support Aptinyx in the development of its portfolio of promising NMDA receptor modulators for the benefit of patients who suffer from these neurologic conditions.”
The funds will support clinical studies of Aptinyx’s drug candidates, including NYX-2925, in development for the treatment of neuropathic pain, and NYX-783, in development as a therapy for post-traumatic stress disorder (PTSD). The company also plans to advance a third proprietary compound into the clinic in 2018, initiate development programs in new indications, and continue discovery of additional novel, small-molecule modulators of N-methyl-D-aspartate (NMDA) receptors.
Aptinyx is currently conducting a Phase 2 study of NYX-2925 in patients with neuropathic pain associated with diabetic peripheral neuropathy (DPN), as well as an exploratory study in patients with fibromyalgia. The FDA has granted Fast Track designation to the development of NYX-2925 for neuropathic pain associated with DPN.
Aptinyx recently initiated a Phase 1 clinical study to evaluate the safety and tolerability of NYX-783. The company intends to develop NYX-783 for the treatment of PTSD, for which the FDA has granted Fast Track designation.
Aptinyx’s chemistry and discovery platform has generated numerous small-molecule modulators of the NMDA receptor, including clinical drug candidates NYX-2925 and NYX-783. In studies to date, these molecules have demonstrated high oral bioavailability, diverse NMDA receptor subtype binding profiles, differentiated efficacy across preclinical models of various nervous system conditions, and very favorable safety.
Read the full press release here.