Aurealis Pharma announces funding and spin-off
A new company with 7.8 million Swiss francs ($7.8 million) in funding has been created to take forward an asset from private biopharma Aurealis Pharma.
The spin-off is called Aurealis Therapeutics and its sole purpose will be to maximize the full potential of AUP-16, taking it into a first-in-human Phase I clinical study for diabetic foot ulcers (DFU).
These activities, including the associated wholly-owned subsidiary Aurealis Oy, Kuopio, Finland, will be separated from the other parallel development activities within Aurealis Pharma including oncology, which will remain with it.
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