F2G bags €50.8m financing to advance olorofim

The €50.8m financing round was led by Cowen Healthcare Investments and includes strong participation from existing investors Novo Holdings, Morningside Ventures, Brace Pharma Capital and Advent Life Sciences.

The Manchester and Vienna-based company announced it will use the proceeds to finance the ongoing Phase IIb proof-of concept study of its antifungal compound olorofim (F901318) and preparatory work for its commercialisation. F901318, a dihydrorotate dehydrogenase (DHODH) blocker, is in a Phase 2b open-label study focussing on rare and resistant life-threatening opportunistic fungal infections, such as invasive aspergillosis, scedosporiosis, lomentosporiosis, fusariosis, scopulariopsosis, and valley fever. Olorofim, F2G’s lead compound from the novel drug class of orotomides that block fungal de novo pyrimidine synthesis, could represent a market opportunity in excess of US$6bn.