Elion Therapeutics Secures $81M in Series B Funding Led by Deerfield Management and AMR Action Fund
Elion Therapeutics, a biotech company focused on treating severe invasive fungal infections, has announced the successful closure of an $81 million Series B funding round. The financing was primarily led by Deerfield Management and the AMR Action Fund, with additional support from Illinois Ventures. The funds will be used to advance SF001, a next-generation polyene antifungal aimed at reducing toxicity.
SF001, Elion's leading clinical candidate, has completed its initial human single-ascending dose study and is presently being tested in a multiple-ascending dose study. The active compound in SF001 is a novel derivative of amphotericin B (AmB), carefully engineered to minimize systemic toxicities. In the previous year, SF001 received Qualified Infectious Disease Product (QIDP) and Fast Track designations from the U.S. Food and Drug Administration (FDA) for early antifungal therapy in presumed invasive fungal disease and for treating invasive aspergillosis.
Dr. Kieren Marr, Elion's President and Chief Medical Officer, highlighted the rising concern over invasive fungal infections due to factors like increased use of biologic immunosuppression, more individuals with severe lung diseases, and greater environmental exposure. Dr. Marr expressed optimism regarding SF001’s potential to provide effective antifungal treatment with reduced toxicity.
The leadership at Elion is composed of seasoned experts in antifungal development. Dr. Marr, a co-founder of Elion and an authority in fungal diseases, previously directed Transplant and Oncology Infectious Diseases at Johns Hopkins University School of Medicine before transitioning to Elion in 2022.
James Flynn, Managing Partner at Deerfield Management, lauded the rapid progress in SF001’s development. He emphasized the growing medical concern over fungal infections globally and expressed confidence that this funding would help Elion achieve its clinical development objectives.
Henry Skinner, CEO of the AMR Action Fund, noted the urgency in developing effective therapies due to increasing antifungal resistance and infection rates. He pointed out that the World Health Organization has identified four critical fungal pathogens, including Aspergillus fumigatus, and expressed support for Elion’s mission to provide new treatments for severe fungal infections.
Invasive fungal infections affect over 150 million people globally, with around 2.5 million deaths each year. These infections predominantly impact individuals with weakened immune systems due to conditions like HIV/AIDS, cancer therapies, organ transplants, or severe lung diseases often caused by influenza or SARS CoV-2. Treatment is complicated by antifungal resistance, organ toxicities, and drug-drug interactions, with Amphotericin B (AmB) being a widely used but highly nephrotoxic treatment. SF001 was designed to mitigate renal toxicities by increasing specificity to fungal cells.
Elion Therapeutics is committed to revolutionizing the treatment of life-threatening fungal infections. Founded on the principle that mechanistic insights can lead to targeted optimization of natural products, Elion is pioneering the advancement of polyene antifungals with reduced toxicities, potentially transforming future therapies.
Deerfield Management, an investment firm dedicated to advancing healthcare, supports Elion’s mission through its comprehensive approach to connecting people, capital, ideas, and technology across the healthcare spectrum.
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