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Aurealis Pharma Announces CHF 7.8 Million Financing Round

12.02.2019 08:32

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Aurealis Pharma develops novel three-in-one combination biologics for chronic non-healing wounds and cancer. The funds will be used to advance the chronic wound lead candidate AUP-16 to diabetic foot ulcer patients under new brand Aurealis Therapeutics AG.  

The Basel, Switzerland and Kuopio, Finland based privately-held biopharmaceutical company Aurealis Pharma announced 7.8MCHF funding provided by Swiss and foreign private investors, Finnvera plc, and Business Finland – the Finnish Innovation Funding Agency. The Company also confirmed the de-merger and a plan to develop and commercialize the AUP-16 under a new legal entity – Aurealis Therapeutics AG. The proceeds of this financing will be used in Aurealis Therapeutics AG to fund the AUP-16 first-in-human Phase 1 clinical study for diabetic foot ulcers (DFU).

AUP-16 first-in-human Phase 1 clinical study for diabetic foot ulcers (DFU) clinical trial application (CTA) was submitted in Q4/2018 to the German Health Authority Paul-Ehrlich-Institute. CTA approval is expected during Q1/2019 and the first patient is planned to be treated in Q2/2019.

The new separate business unit Aurealis Therapeutics is entirely dedicated to the "development and commercialization of the product AUP-16". These activities will be separated from the other parallel development activities within Aurealis Pharma AG including oncology, which will remain with it. All relevant assets of the product AUP-16 and all the associated obligations will be transferred to Aurealis Therapeutics AG. It is emphasized that the de-merger has no effect on the Board of Directors, management team and staff. They all remain at Aurealis Therapeutics and its subsidiary Aurealis Oy. Furthermore, the de-merger has no effect on the ongoing AUP-16 collaborations, contracts and obligations.

“Aurealis Therapeutics AG is funded until diabetic foot ulcer phase 1 results and can now focus on maximizing the AUP-16 clinical development. Aurealis Pharma AG, on the other hand, will focus on oncology with its renewed strategy and plan.” said Dr. Juha Yrjänheikki, CEO of Aurealis Therapeutics AG.

(Press release)
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