Atopix Therapeutics Limited, a UK biopharmaceutical company developing innovative CRTH2 antagonists for Th2-mediated diseases including atopic dermatitis and severe asthma, today announced the funding of a new capital term loan from Silicon Valley Bank, the bank of the world's most innovative businesses and their investors. The new loan provides £3.25M in additional capital to support Atopix Therapeutics' phase two clinical studies.
Atopix Therapeutics is a clinical-stage, biopharmaceutical company based in Oxford, United Kingdom. The company is focused on developing a novel class of medicines to treat TH2-mediated disease indications, including atopic dermatitis and severe asthma. Investors backing the business include SROne, Wellington Partners and SV Life Sciences.
"This new capital will support key clinical activities necessary to the development of our medicines," said Tim Edwards, the Executive Chairman of Atopix Therapeutics Limited. "Silicon Valley Bank's support of Atopix demonstrates the potential for term loan financing to add real value to a clinical stage biotech company."
Nooman Haque, Director of UK Life Sciences & Healthcare for Silicon Valley Bank, added: "Silicon Valley Bank aims to work with innovative businesses around the world that bring important medical advances to the market. We look forward to our partnership with the Atopix team as they progress through the next clinical phase and we are delighted to be working alongside this internationally recognised syndicate of investors to support Atopix."
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative businesses and their investors move bold ideas forward, fast. SVB provides a range of targeted financial services and expertise through its office in the UK. With commercial and international banking services, SVB helps address the unique needs of innovators. Forbes named SVB one of America's best banks (2015) and one of America's best-managed companies (2014). In 2014, SVB was recognised as Service Provider of the Year for the third year in a row at the Investor Allstar Awards in London. SVB's life science and healthcare practice provides a range of financial services to innovative companies that are improving health through technology. Learn more at svb.com/lifescience.
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About Atopix Therapeutics Limited
Atopix Therapeutics Limited is a privately held, clinical-stage biopharmaceutical company based in Oxford, UK developing a novel class of medicines to treat Th2-mediated diseases including atopic dermatitis and severe asthma. The company is developing a class of oral medicines, called CRTH2 antagonists. Its lead candidate is currently being studied in a Phase 2 clinical trial for moderate-to-severe atopic dermatitis in several leading European dermatology centres. The company is also assessing the safety and pharmacokinetic profile of its back-up molecule ATX2417 in a Phase I study. Atopix has a pipeline of highly potent back-up CRTH2 antagonists, including topical candidates that can be formulated for treatment of a number of severe allergic conditions including eye disease. For more information, please visit www.atopixtherapeutics.com.
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