Cash-laden F2G ramps up for 'pivotal year'

F2G, a clinical-stage biopharmaceutical company focused on the discovery and development of therapies to treat life-threatening rare fungal infections, has announced a $70 million financing.

The financing, which was co-led by Forbion and Sofinnova Partners, will be used to advance late-stage development and commercialization in the USA of olorofim, a novel oral antifungal therapy to treat invasive aspergillosis and other rare mold infections.

"We are building a world-class team with commercial, operational and dealmaking experience"This follows the recent announcement that the UK-based company has entered into a $480 million strategic collaboration with Shionogi (TYO: 4507) to develop and commercialize olorofim in Europe and Asia.

Olorofim is one of the first novel class of antifungals developed in the past 20 years and is the only antifungal medication to be awarded a breakthrough therapy designation for multiple indications by the US Food and Drug Administration.