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