BRIEF—Amylyx raises $30 million in Series B funding

US CNS-focussed drug developer Amylyx Pharmaceuticals today announced it has closed an oversubscribed $30 million Series B financing, led by Morningside Ventures, with participation from other investors.

Amylyx has closed more than $45 million in financing in 2020.

“The results AMX0035 achieved for ALS [amyotrophic lateral sclerosis] patients in the CENTAUR trial paired with Amylyx’ strong partnerships in the ALS and Alzheimer’s communities give credence to continued success,” said Dr Isaac Cheng of Morningside Ventures. Publish

“By targeting mitochondrial and endoplasmic reticulum dependent neuronal degeneration pathways, Amylyx can have a very significant impact for patients suffering from neurodegenerative diseases, a critical threat to global public health,” he noted.

“We share Morningside’s confidence in AMX0035 and we remain steadfast in our commitment to patients with ALS, Alzheimer’s and other neurodegenerative diseases,” said Jeffrey Trigilio, chief financial officer at Amylyx, adding: “Amylyx has made remarkable progress, completing one Phase II trial in ALS and completing enrollment in a second Phase II trial in Alzheimer’s.”

Amylyx says it anticipates publication of full data from the CENTAUR ALS trial in the near term, and the PEGASUS trial in Alzheimer’s disease is in Phase II with top-line data expected in the first quarter of 2021.