AirNexis Therapeutics Secures $200M Series A to Advance Dual PDE3/4 Inhibitor for COPD Treatment
Key Insights
AirNexis Therapeutics (search) launched with a $200 million Series A financing led by Frazier Life Sciences (search) to advance global development of AN01 (search), a dual PDE3 (search)/4 inhibitor for COPD.
The company acquired exclusive rights to develop AN01 (search) outside China from Haisco Pharmaceutical Group (search), which retains development rights in China and receives $40 million upfront plus potential milestones up to $955 million.
AN01 (search) offers a dual mechanism of action promoting bronchodilation and reducing inflammatory factors, available in both inhalation suspension and powder forms for COPD maintenance treatment.
AirNexis Therapeutics (search) has emerged as a new clinical-stage biotech company with a substantial $200 million Series A financing to advance AN01 (search), a dual PDE3 (search)/4 inhibitor in Phase 2 development for chronic obstructive pulmonary disease (COPD). The over-subscribed financing round was led by Frazier Life Sciences (search), with participation from OrbiMed (search), SR One, Life Sciences at Goldman Sachs Alternatives, Longitude Capital, and Enavate Sciences.
Strategic Partnership and Licensing Agreement
The company has acquired exclusive rights to develop AN01 (search) outside of China from Haisco Pharmaceutical Group (search) through a comprehensive licensing agreement. Under the terms of the deal, Haisco receives a 19.9% equity stake in AirNexis and an upfront payment of $40 million in cash. The Chinese pharmaceutical company remains eligible for regulatory and commercial milestones of up to $955 million and low double-digit royalties on net sales in AirNexis territories.
Haisco Pharmaceuticals retains development rights in Mainland China, Hong Kong, Taiwan, and Macau, where the company is currently studying both dosage forms of the drug candidate in Phase 2 clinical trials.
Novel Dual Mechanism of Action
AN01 (search), also known as HSK39004, represents a dual PDE3 (search)/4 inhibitor that exerts synergistic effects through a dual mechanism of action. The drug promotes bronchodilation while simultaneously reducing the release of inflammatory factors, potentially leading to improvements in airflow limitation and airway inflammation to support maintenance treatment of COPD.
"While recent therapeutic advances have given the COPD community new treatment options, we believe there is room for improvement with respect to efficacy and patient experience," said Maria Fardis, Ph.D., MBA, CEO of AirNexis. "With two dosage forms available, an inhalation suspension and an inhalation powder, AN01 (search) may offer meaningful therapeutic options over those that are currently available."
Leadership and Investment Strategy
The company is led by CEO Maria Fardis, Ph.D., MBA, with the Board of Directors chaired by James Li, M.D., Venture Partner at Frazier Life Sciences (search) and co-founder and former CEO at JW Therapeutics. Other board members include Anna Chen, Ph.D., Partner at Frazier Life Sciences; Evan Caplan, M.D., MBA, Partner at OrbiMed (search); Jill Carroll, Partner at SR One; and Colin Walsh, Ph.D., Managing Director of Life Sciences at Goldman Sachs Alternatives.
"Company creation is a key strategy for Frazier, and we are excited to launch AirNexis as a new company focused on the global development of this compelling clinical stage asset," said Anna Chen, Ph.D., Partner at Frazier Life Sciences (search). "We look forward to collaborating with Haisco, our co-investors and the management team to work towards building a leading respiratory company and advancing meaningful new therapies for patients."
Development Plans
The proceeds from the Series A financing will fund the global clinical development of AN01 (search), positioning AirNexis to advance this dual PDE3 (search)/4 inhibitor through clinical trials outside of China while Haisco continues its Phase 2 studies in Chinese markets. The dual dosage form approach, offering both inhalation suspension and powder formulations, provides flexibility in addressing diverse patient needs and preferences in COPD treatment.