Amphista Therapeutics raises $53M in oversubscribed Series B round to advance next generation targeted protein degradation assets

Financing includes leading life-science investors Gilde Healthcare, Forbion, Novartis Venture Fund and Eli Lilly and Company

Glasgow, UK, 17 March 2021 – Amphista Therapeutics, a leader in next generation targeted protein degradation (TPD) approaches, today announced the closing of a $53 million (£38 million) Series B financing round. The round was co-led by Forbion and Gilde Healthcare. Additional investors in this round include Novartis Venture Fund, and Eli Lilly and Company, joining existing investor BioMotiv and founding investor Advent Life Sciences. The proceeds will be used to accelerate the company’s growing pipeline of potent and selective bifunctional molecules, known as ‘Amphistas’ to the clinic and to extend its proprietary TPD platform.

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