Aurealis Therapeutics Raises $10 Million in an Oversubscribed Series A Financing to Accelerate Phase 2 Clinical Studies in Chronic Wounds and Preclinical Development in Oncology with Its First-in-Class Technology Platform.
Aurealis Therapeutics, a synthetic biology company developing ground-breaking cell and gene therapies for high unmet medical needs, has raised over $10 million through a Series A financing round co-led by Lynx Financial and TESI (Finnish Industry Investment Ltd) with participation of Huahai Pharmaceuticals, family offices and biotech HNWIs.
The funds will be primarily used to advance the lead product AUP-16, start Phase 2 clinical trial in Diabetic Foot Ulcer (DFU) and begin preparations for clinical trials in Venous Leg Ulcer and Pressure Ulcer. Proceeds will also allow to accelerate the preclinical development of the lead candidate AUP-55 for cancers such as ovarian cancer and peritoneal carcinomatosis.
Chronic Wounds, deadly cancers, and inflammatory conditions are multi-factorial diseases which represent massive unmet medical needs. Aurealis Therapeutics is committed to developing curative therapies based on its multitherapy bacterial vector technology platform. Aurealis Therapeutics platform is based on food-grade lactic acid bacteria, genetically modified to synthesize multiple human therapeutic proteins, acting as millions of nanoscale drug bioreactors in the body. The company’s ambition is to create solid clinical and health economic data in Chronic Wounds (Diabetic Foot Ulcer, Venous Ulcer, Pressure Ulcer), and deadly cancers such as ovarian cancer and peritoneal carcinomatosis. This, while engaging with strategic partners to enable market entry and ensure this game-changing technology platform will benefit millions of patients throughout the world.
“Our team has done a massive job by taking this unique multi-therapy bacterial vector from theory to clinical proof. We are pleased to announce this successful funding round and want to express our gratitude for the trust and support that we have received from existing and new shareholders. We have exciting times ahead as our Phase 2 study in Diabetic Foot Ulcer will start very soon and oncology will be moved towards clinical development” said Juha Yrjänheikki, CEO of Aurealis Therapeutics.
“AUP-16 has shown highly positive results during the Phase 1 clinical study in Diabetic Foot Ulcers: 83% of the patients who received therapeutic dose achieved complete and sustainable healing of their chronic wounds within a short treatment period while experiencing a much-improved quality of life and reduced pain. We strongly believe that our novel, transformative approach will help countless patients, provide relief to the health care system and create substantial value to all stakeholders.” continued Laurent Décory, COO of Aurealis Therapeutics.
Flora Gao, Senior Partner of Lynx Financial commented: “Aurealis Therapeutics is advancing a first-in-class multitherapy bacterial technology platform with great results, opening the door for novel treatments addressing major unmet medical needs. We are pleased to further support the development of this technology as it is applied to new therapy areas across broader geographies.”