Aptinyx has raised $70 million in a series B, which came after Naurex’s takeover by Allergan, that will be used to advance three drugs in its pipeline against neurologic disorders in the clinic.
In 2015, Aptinyx was introduced maintain the drug discovery platform as well as management team that fueled Naurex to a $560 million takeout by Allergan. The startup completed a $65 million series A in 2016, putting it into the position to advance its work into the clinic. Now, the biotech has generated another $70 million to further its clinical development.
Bain Capital Life Sciences directed the series B with the support of other new investors, such as HBM Healthcare Investments. Aptinyx also again generated funds from New Leaf Venture Partners, Frazier Healthcare Partners, Longitude Capital and other existing backers. Investors were attracked to Aptinyx due to the strength of its management team’s history developing NMDA receptor modulators and more importantly, developing biotechs that will attract a large buyout.
This last funding round put Aptinyx in the position to continue an active phase 2 trial of NYX-2925 in neuropathic pain associated with diabetic peripheral neuropathy, as well as begin an exploratory study examing its effect on patients with fibromyalgia. Another portion of the funding is reserved for taking NYX-783 through phase 1 and into a development program intended as a treatment for PTSD. Lastly, Aptinyx will use the rest of the funds to bring a third candidate into the clinic.
NYX-2925 and NYX-783 both transpired from the same chemistry and discovery platform that responsible for NMDA modulator rapastinel, the depression candidate that fortified Allergan’s takeover of Naurex. Now, Norbert Riedel, Ph.D., and the other executives who responsible for buyout are using their NMDA modulator beyond depression. Since NMDA plays a key role in neurological processes and Aptinyx is indicating that its drugs evade side effects activated by early antagonists of the receptor, the biotech’s investors believe it has a fresh surge of CNS R&D.
“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 Adam M. Koppel, M.D., Ph.D.