MENLO PARK, Calif., Nov. 21, 2019 /PRNewswire/ -- AN2 Therapeutics, Inc. ("AN2"), a newly-formed biopharmaceutical company focused on the research, development, and commercialization of novel medicines targeting infectious diseases, today announced that it has raised $12 million in a Series A financing led by Mountain Group Partners and joined by Adjuvant Capital, Brii Biosciences, and BioRock Ventures. Proceeds from the financing will be used to advance AN2's lead clinical-stage program, involving a therapeutic agent with a novel mechanism-of-action, as well as several earlier stage programs.
"The evolving public health challenges of today and the future necessitate increased investment into the discovery and development of novel medicines that address significant unmet patient needs across the globe. Existing regimens for high-burden diseases are often decades-old with less than ideal safety and efficacy profiles. AN2's novel lead candidate and underlying platform approach address patient needs in high-value markets and less developed markets simultaneously, creating a true win-win," said Rob Readnour, a Managing Director at Mountain Group Partners.
"We have the opportunity to take a novel asset forward with a remarkable group of investors, management team, and scientists, who are strongly aligned with AN2's mission of discovering and developing medicines to improve the lives of patients suffering from infectious diseases worldwide, across all markets," said Eric Easom, co-founder and CEO of AN2 Therapeutics. "We bring our unique approach to global health challenges by aligning our public health mission with our business strategy. We intend to leverage strategic partnerships and non-dilutive funding to supplement the company's global public health programs, while making no compromises on our business objectives."
AN2 also announced a strategic partnership with Brii Biosciences, a clinical-stage company committed to serving patients' needs and improving public health in China and around the world. Under the terms of the agreement, Brii Biosciences will obtain a license to develop, manufacture, and commercialize AN2's lead clinical-stage antibacterial compound with a novel mechanism-of-action in greater China.
"It is an honor to be partnering with Brii Biosciences and their world-class team of scientists in the field of infectious diseases," Easom added. "We look forward to bringing together our collective abilities to serve the unmet needs of patients suffering from these devastating diseases."
About AN2 Therapeutics, Inc.
AN2 Therapeutics, Inc. is a California-based global health biopharmaceutical company focused on bringing the power of modern biomedical and drug development expertise to create transformational medicines for patients suffering from infectious diseases. The founding team is uniquely experienced in leveraging strategic partnerships and non-dilutive funding to support global public health programs. AN2's investors include Mountain Group Partners, Adjuvant Capital, Brii Biosciences, and BioRock Ventures. For more information, visit www.an2therapeutics.com.
About Mountain Group Partners
Mountain Group Partners ("MGP") is a leading life sciences venture investment firm dedicated to funding and actively guiding transformational businesses meeting significant unmet needs and putting patients first. Investing in seed and early stage companies, MGP's life science investments focus on MedTech, Diagnostic and Opportunistic Drug Development opportunities. Founded in 2002, MGP has invested in more than 50 portfolio companies. For more information, visit www.mtngp.com.
SOURCE AN2 Therapeutics, Inc.