Elion secures $81M for safer antifungal development

Elion Therapeutics has successfully secured $81 million in a series B funding round led by Deerfield Management and the AMR Action Fund. This capital injection aims to further the development of SF001, a Phase I polyene antifungal candidate designed as a potentially less harmful alternative to the widely utilized amphotericin B (AmB). Illinois Ventures also participated in this funding round.

James Flynn, managing partner at Deerfield, commended the rapid progress of SF001, stating, "The speed of development of SF001 to date has been impressive. Fungal infections are a growing medical concern globally, and we have an opportunity with this therapeutic candidate to address millions of disease cases and preventable deaths that occur every year."

At present, treatment options for fungal infections are limited to four main classes of antifungal drugs. However, these treatments come with significant limitations such as resistance, organ toxicities, and adverse drug interactions. Amphotericin B, a natural product used since the 1950s for various fungal infections, is highly effective but is notorious for its severe side effects, including kidney impairment in up to 80% of patients. Elion, originally established as Sfunga Therapeutics in 2019, claims that SF001 has been engineered to reduce these renal toxicities while maintaining its antifungal potency through more specific targeting of fungal cells.

This funding achievement comes as awareness of the dangers posed by invasive fungal infections increases, along with the urgent need for new treatment options. The World Health Organization recently highlighted four critical fungal pathogens: Aspergillus fumigatus, Candida albicans, Candida auris, and Cryptococcus neoformans, emphasizing their priority status.

In 2023, SF001 was granted qualified infectious disease product (QIDP) and fast-track designations by the FDA for early antifungal therapy of presumed invasive fungal disease and treatment of invasive aspergillosis. The drug, which is administered via intravenous infusion, has successfully completed a first-in-human single-ascending dose study and is currently undergoing evaluation in a multiple-ascending dose trial. Additionally, an oral formulation of the drug is in the feasibility stage, as per the company's website.

In a related development, Deerfield has recently appointed Frank Nestle, the former chief scientific officer at Sanofi, to lead its therapeutic discovery and development initiatives.