Elion Therapeutics, a biotechnology company focused on transforming the treatment of life-threatening invasive fungal infections (IFIs), announced it has closed a $81 million Series B funding round led by Deerfield Management and the AMR Action Fund. Illinois Ventures was an additional investor.

Elion's clinical-stage candidate SF001, a next-generation polyene antifungal, completed a first-in-human single-ascending dose study and it is now being evaluated in a multiple-ascending dose study. And the active molecule is a novel analog of the antifungal amphotericin B (AmB), rationally designed to mitigate systemic toxicities.

Last year, SF001 received Qualified Infectious Disease Product (QIDP) and Fast Track designations from the U.S. Food and Drug Administration (FDA) for early antifungal therapy of presumed invasive fungal disease and treatment of invasive aspergillosis.

Elion is led by Dr. Kieren Marr and a highly experienced team of experts who have been instrumental in the development of most currently available antifungal agents. And Dr. Marr, co-founder of Elion and international expert in fungal diseases, served as Director of Transplant and Oncology Infectious Diseases at Johns Hopkins University School of Medicine until 2022, when she became Elion's Chief Medical Officer and recruited the leadership team as it stands today.

KEY QUOTES:

"Invasive fungal infections have reached historic levels of concern, largely due to increased medical reliance on biologic immunosuppression, more people with severe pulmonary disease at risk of IFI, and increased exposures associated with environmental changes. As we move into the next stage of our clinical program, we're optimistic about the potential of SF001 to deliver antifungal treatment with reduced toxicity and the potential to address critical challenges with currently available options."

- Kieren Marr, M.D., M.B.A., Elion's President and Chief Medical Officer

"The speed of development of SF001 to date has been impressive and is a testament to the world-class leadership team established at Elion. Fungal infections are a growing medical concern globally, and we have an opportunity with this therapeutic candidate to address millions of disease cases and preventable deaths that occur every year. We are excited to support this mission and confident that this financing will provide the runway to achieve Elion's clinical development goals."

- James Flynn, Managing Partner, Deerfield Management