Medicxi Launches Alys Pharmaceuticals in $100m Seed Funding Round
Medicxi, a prominent life sciences investment firm, has announced the launch of Alys Pharmaceuticals, a new biotech company focused on developing groundbreaking therapies in the field of immunodermatology. With an impressive $100 million in seed funding, Alys Pharmaceuticals is set to make a significant impact in the industry.
To ensure continued focus on their individual platforms and programs, Alys Pharmaceuticals will keep its component companies separate. This approach allows each subsidiary to concentrate on their respective areas of expertise while collaborating towards a common goal. The company has plans for potential additional fundraising later this year to support its clinical development plans.
Alys Pharmaceuticals’ lead drug candidate is an innovative small-molecule-based medicine delivered via a thermosensitive dermal gel. It shows promising potential in treating dermatitis associated with radiotherapy, a condition that affects many patients.
Co-founded by Medicxi and a group of esteemed dermatology and scientific experts from around the globe, including Nobel laureate Craig Mello, Alys Pharmaceuticals brings together the expertise of various institutions. These include the UMass Chan Medical School, the Icahn School of Medicine at Mount Sinai, Ludwig Maximilian University, the Institut Gustave Roussy, and the Georgia Institute of Technology. All founders maintain minority stakes in the company.
The union of six dermatology-focused companies, namely Aldena Therapeutics, Graegis Pharmaceuticals, Granular Therapeutics, Klirna Biotech, Nira Biosciences, and Vimela Therapeutics, strengthens Alys Pharmaceuticals’ position in therapeutic areas such as psoriasis, atopic dermatitis, pruritus, vitiligo, and certain forms of skin cancer. Each subsidiary will independently develop its main asset to address the unmet needs of patients lacking access to effective therapeutics.
Alys Pharmaceuticals has an ambitious target of delivering seven to ten proof-of-concept readouts by the end of 2026. Other projects in the pipeline include a peptide therapy for vitiligo and an siRNA-lipid conjugate for alopecia areata. Additionally, the company’s program for dermatitis in breast cancer patients undergoing radiotherapy, an asset from Graegis Pharmaceuticals, will enter phase 2 studies in the coming months. Alys Pharmaceuticals also plans to pursue two more Investigation New Drug filings and submit five additional applications in 2025.
Francesco De Rubertis, co-founder of Medicxi, expressed confidence in the potential of Alys Pharmaceuticals, stating, “We believe that bringing together several asset-centric companies with a phenomenal team will power up Alys to transform innovation in immuno-dermatology.”
With its strong financial backing, exceptional team of experts, and a diverse portfolio of promising drug candidates, Alys Pharmaceuticals is poised to make remarkable strides in revolutionizing the field of immuno-dermatology.
Analyst comment
Positive news: Medicxi has launched Alys Pharmaceuticals with $100m in seed funding. Alys Pharmaceuticals aims to develop groundbreaking therapies in immunodermatology, with an initial focus on treating dermatitis associated with radiotherapy. The company has the support of renowned dermatology and scientific experts, and plans to deliver several proof-of-concept readouts by 2026. With its strong financial backing, expert team, and diverse portfolio, Alys Pharmaceuticals is positioned for success in the market.
