Weekly Quick Hits (BioHealth Capital Region) – Week of April 24, 2023 By Sarah Ellinwood, Alex Keown, and Mark TerryApril 28, 2023 Funding, Awards and Collaborations Quest Diagnostics Acquires Haystack [….]
Alphyn Biologics, a clinical-stage dermatology company developing first-in-class multi-target therapeutics, announced today positive results from the first cohort of its Phase 2a clinical trial of AB-101a, a topical therapeutic for mild-to-moderate atopic dermatitis (AD). The trial met all of its primary endpoints, highlighting AB-101a’s potential to be an effective and safe treatment for AD.
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.
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.
