California-based AN2 Therapeutics secured $80 million in a Series B funding round to help advance its novel nontuberculous mycobacterial lung disease program.
AN2 Therapeutics, Inc., a California-based global health biopharmaceutical company focused on novel medicines targeting infectious diseases, said on Friday that it has secured $80 million in a Series B funding round.
AN2 will use the funding to advance its novel nontuberculous mycobacterial lung disease program. The company’s development candidate, epetraborole, is a once-daily, orally-administered investigational treatment for chronic nontuberculous mycobacterial lung disease (NTM).
In a statement, Eric Easom, president and chief executive officer of AN2 Therapeutics, said the company is enthusiastic about having a top syndicate of investors that understand the nontuberculous mycobacteria lung disease landscape and share the belief that AN2’s epetraborole has the potential to meet the ideal target product profile described by NTM clinicians for novel drugs needed to advance the care of patients significantly.
“We believe this investment will accelerate the development of late-stage clinical trials for epetraborole for NTM as well as advance AN2’s pipeline targeting novel therapeutics for rare, chronic, and serious infectious diseases,” Easom said.
RA Capital Management led the financing round, which included BVF Partners, Surveyor Capital, Avidity Partners, Monashee Investment Management, Hatteras Venture Partners and existing investors.
In addition, the AN2 board expanded with the appointment of two new directors, Patricia Martin and Stephanie Wong.
Easom welcomed the two to the board of directors, saying, “We are extremely pleased to welcome such distinguished biopharmaceutical executives with significant strategic and operational experience in drug development and commercialization to the Board.”
Martin has over 25 years of global biopharma executive leadership experience across multiple therapeutic areas and disciplines. She joined BioCrossroads as the president and CEO in July 2019. A former Eli Lilly executive, Martin was the chief operating officer of Lilly Diabetes for seven years and was appointed as Lilly’s chief diversity officer, chief alliance officer, and held other leadership roles that included strategy, clinical product development and investor relations.
Stephanie Wong has over 20 years of finance and accounting experience in public and private companies within the biotechnology industry, including her present position as secretary and senior vice president of Finance at Calithera Biosciences, Inc.
