Annapolis-Based Alphyn Biologics Closes $3.3 Million Series A

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Alphyn Biologics, a clinical-stage dermatology company, has closed a $3.3 million Series A round led by Queen City Angels, with participation from the Angel Physicians Fund and Serial Stage Venture Partners. So far, Alphyn, which has dual headquarters in Annapolis, Md., and Cincinnati, Ohio, has raised $6.7 million, including a seed round of over $1 million, and a second round of more than $2 million.
“This financing allows us to begin an accelerated global multicenter clinical trial program to support a new drug application with the FDA and other national health authorities,” Alphyn CEO Neal Koller. Alphyn addresses infectious skin diseases, including some drug-resistant variants, and skin cancer. Its Phase2a clinical trial is for AB-101a, the company’s lead candidate to treat mild-to-moderate atopic dermatitis.

Fulton Bank, an Important Growth Engine for Regional Life Sciences Companies

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In 2019, Fulton Bank launched a new division aimed at supporting life sciences companies that many financial institutions shied away from historically—young, emerging bioscience and tech companies that offer high risk, high reward investment profiles.