UK – Amphista Therapeutics, a Glasgow, Scotland-based biopharmaceutical company, closed a USD $7.5m Series A funding round.
The round was led by Advent Life Sciences with participation from the Scottish Investment Bank, the European Investment Fund, and BioMotiv. In conjunction with the funding, Satish Jindal, CEO, BioMotiv, joined Amphista’s board as Chairman. The company intends to use the funds to progress its oncology pipeline to the clinic. Led by CEO Nicola Thompson, and based on the work of scientific founder, Professor Alessio Ciulli, who is based at the University of Dundee, Amphista Therapeutics is a Glasgow, Scotland-based biopharmaceutical company creating cancer therapeutics that harness the body’s natural processes to selectively and efficiently degrade and remove disease causing proteins. Amphista’s TPD small molecules instruct the cell to degrade the target directly rather than activating or inhibiting the target protein function. As protein-protein interactions are involved in disease progression, removing the target protein provides a clear therapeutic advantage over inhibition. Specifically, the platform is independent of traditional E3 ubiquitin ligases used by the field, potentially expanding the available target scope of TPD approaches and should overcome recently identified PROTAC® resistance mechanisms. 07/04/2020
