ENYO Pharma has completed a €40 million Series B round of financing from US and European investors.
This new funding will enable the company to finance the two first Phase II clinical trial of its EYP001 asset in both chronic HBV and NASH.
A second asset is also planned to enter clinic by 2019.
ENYO develops innovative drug candidates by mimicking virus strategies to modulate host cellular functions
The deal was led by OrbiMed, followed by Andera Partners (previously EDRIP) and Bpifrance Large Venture as new shareholders.
Dr Iain Dukes, a Venture Partner with OrbiMed, will now join the Board of Directors.
EYP001 is an orally bioavailable small molecule currently being evaluated in phase Ib in patients with chronic hepatitis B. EYP001 is a synthetic non-steroidal, non-bile acid FXR agonist with a very good tolerability profile.
Two phase II clinical trials are planned to start before end of 2018 in chronically HBV infected patients and in NASH patients.
Hepatitis B remains a major worldwide public health problem. According to the WHO, over 350 million people chronically infected with the hepatitis B virus are awaiting treatment, half of them in Asia.