F2G, a Manchester-based clinical-stage biopharmaceutical company in the UK, has successfully raised an impressive $100 million in funding to advance its innovative medical research. This substantial financial round was led by the AMR Action Fund, which focuses on addressing the critical challenges faced in the realm of antimicrobial resistance. Notably, this funding round saw participation from several other prestigious investors including the new entrant ICG Life Sciences, as well as established supporters such as Novo Holdings, Advent Life Sciences, Sofinnova Partners, Forbion, Blue Owl Healthcare Opportunities, Morningside Ventures, Brace Pharmaceuticals, and Merifin Capital. With this backing, F2G is poised to enhance its operations significantly and continue its significant work in the biopharmaceutical field.
The strategic infusion of capital will enable F2G to complete late-stage development of its leading drug candidate, olorofim, a groundbreaking oral antifungal therapy meticulously designed to combat invasive aspergillosis (IA) and various other invasive fungal infections.
Henry Skinner, Ph.D., the Chief Executive Officer of AMR Action Fund, and Toby Sykes, Ph.D., Managing Director of ICG Life Sciences, are set to join F2G’s Board of Directors, bringing valuable expertise and insights that will undoubtedly contribute to the company’s growth. However, it’s important to note that this financing is contingent on standard Foreign Direct Investment (FDI) clearance from local authorities in Austria, where F2G has established a fully-owned subsidiary. The financing deal is anticipated to close in the fourth quarter of 2024.
Under the leadership of CEO Francesco Maria Lavino, F2G is at the forefront of pioneering therapies intended to address life-threatening invasive fungal infections. This innovative company has successfully discovered and developed a novel class of antifungal agents known as orotomides, which uniquely target a critical enzyme involved in the de novo pyrimidine biosynthesis pathway. Olorofim is recognized as the first antifungal in this orotomide classification and has earned the distinction of being the only antifungal medication to receive Breakthrough Therapy Designation from the US Food and Drug Administration (FDA) for multiple indications. The unique mechanism of action of olorofim—differentiating it from conventional antifungal treatments—provides promising fungicidal activity, particularly beneficial for patients grappling with severe, rare fungal diseases, where existing therapies are either ineffective or inappropriate.
# | Investor | Sector | Stage | Activity | Team | Connect |
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1 | ![]() AMR Action Fund | 1 investment(s) investment(s) | more info | |||
2 | ![]() ICG Life Sciences | investment(s) investment(s) | more info | |||
3 | ![]() Novo Holdings | 4 investment(s) investment(s) | more info | |||
4 | ![]() Advent Life Sciences | 3 investment(s) investment(s) | 10 contacts contacts | |||
5 | ![]() Sofinnova Partners | 7 investment(s) investment(s) | 29 contacts contacts |
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