AFYX Therapeutics announced a $13M investment via a convertible loan.

Denmark Investments 24 June 2019
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AFYX Therapeutics, a Copenhagen, Denmark and San Diego, USA-based clinical stage biopharmaceutical company developing innovative approaches to treat mucosal diseases, announced the closing of a $13 million USD convertible loan financing.

The round was led by Sofinnova Ventures and included Novo Seeds and Lundbeckfonden Emerge.

The funding will be used to support the ongoing Phase 2b study of Rivelin®-CLO for the treatment of oral lichen planus, expansion of the Rivelin® platform into other mucosal diseases, and operational growth.

AFYX Therapeutics, founded in 2014 as Dermtreat and led by CEO Nishan de Silva, has developed the Rivelin patch, a breakthrough technology for the treatment of mucosal diseases. Rivelin is designed to deliver a pharmaceutical drug uni-directionally to a mucosal surface using an occlusive, bioadhesive and biodegradable patch, with a long adhesion time and a high flexibility conforming to the mucosal surface. Rivelin-CLO, the first Rivelin product candidate, is being developed to treat the inflammatory disease oral lichen planus (OLP) through direct delivery of the drug clobetasol propionate.