Amytrx Therapeutics found new money to fill its pockets, as the company concluded a series A round of financing on Wednesday.
The company, which strives to engineer solutions for inflammation and metabolic disease, raised $18 million to continue clinical research on the use of its landmark peptide platform, AMTX-100, for inflammatory skin disorders in adults and adolescents, according to a press release.
The funds will specifically be used for the investigation of a new cell-penetrating peptide therapeutic for topical skin applications to treat atopic dermatitis.
"We are counting on success in our Phase 2 in atopic dermatitis clinical trial as we move forward and begin a seamless transition toward our future goals in other immune-mediated disorders," said Chief Business Officer Randall Riggs in the release.
The Nashville-based company is working to develop its drug with fewer negative effects.
“We also see the promise of a new localized treatment for adolescents with a therapeutic that doesn't suppress the immune system like many topical steroids on the market,” Riggs said in the release.
With a presence in Middle Tennessee, Amytrx has partnerships with Vanderbilt University and is one of the few biopharmaceutical companies in the area.
Although Nashville is home to several health care companies, such as HCA Healthcare, the sum shows growth in the biotech and pharmaceutical market, which has trailed in comparison to the rest of the city’s health care industry.
