San Diego Tech Coast Angels, a member of the largest angel network in the United States, announced that Tech Coast Angels and Life Science Angels have partnered to close a Series A financing for Amplyx Pharmaceuticals Inc., a Menlo Park-based drug development company focused on creating best-in-class small molecule drugs.
Life Science Angels led the initial funding of $492,000 and along with TCA members raised an additional $289,000 to complete the round.
Approximately 50 percent of marketed drugs have one or more serious absorption, distribution, metabolism and excretion (known as ADME) problems. Amplyx has created a platform technology that can significantly improve the ADME properties of approved small molecule drugs.
“Amplyx has created a unique, simple solution to a huge problem,” said Jack Florio, San Diego TCA member and lead TCA investor in the Amplyx funding. “The company’s platform technology has the potential to improve a large number of drugs, including numerous drugs with billion-dollar markets.”