AirNexis acquires exclusive rights to develop AN01 outside of China from Haisco Pharmaceutical Group

Company founded by Frazier Life Sciences, which led the Series A financing with participation from OrbiMed, Life Sciences at Goldman Sachs Alternatives, SR One, Longitude Capital and Enavate Sciences

Building a world-class leadership team led by CEO Maria Fardis, Ph.D., MBA, and Chairman James Li, M.D.

PALO ALTO, Calif.–(BUSINESS WIRE)–AirNexis Therapeutics, a clinical stage biotech company developing therapeutics for pulmonary diseases, today announced the close of a $200 million Series A financing round and the in-license of a dual PDE3/4 inhibitor in Phase 2 development for chronic obstructive pulmonary disease (COPD) from Haisco Pharmaceutical Group. The over-subscribed Series A was led by Frazier Life Sciences, with participation from OrbiMed, SR One, Life Sciences at Goldman Sachs Alternatives, Longitude Capital and Enavate Sciences among others. Proceeds of the financing will fund the global clinical development of AN01.

“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 may offer meaningful therapeutic options over those that are currently available.”

AN01, also known as HSK39004, is a dual PDE3/4 inhibitor that exerts synergistic effects through a dual mechanism of action (MOA) that promotes bronchodilation and reduces the release of inflammatory factors. This MOA may lead to improvements in airflow limitation and airway inflammation, supporting the maintenance treatment of COPD. Haisco Pharmaceuticals is studying both dosage forms of the drug candidate in Phase 2 clinical trials in China and retains development rights in Mainland China, Hong Kong, Taiwan and Macau.

“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. “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.”

AirNexis’ Board of Directors will be chaired by James Li, M.D., Venture Partner at Frazier Life Sciences (FLS), and co-founder and former CEO at JW Therapeutics. Other board members include Anna Chen, Ph.D., Partner at FLS; Evan Caplan, M.D., MBA, Partner at OrbiMed; Jill Carroll, Partner at SR One; and Colin Walsh, Ph.D., Managing Director of Life Sciences at Goldman Sachs Alternatives.

Under the terms of the agreement, Haisco will receive a 19.9% equity stake in AirNexis. Upon signing, Haisco also receives an upfront payment of $40 million in cash. Haisco will be eligible to receive regulatory and commercial milestones of up to $955 million and low double-digit royalties on net sales in the AirNexis territories.

About AirNexis Therapeutics

AirNexis Therapeutics is a clinical-stage biotech company developing novel therapeutic drugs for the treatment of COPD patients. AN01 is a dual PDE3/4 inhibitor that exerts synergistic effects through a dual mechanism of action that promotes bronchodilation and reduces the release of inflammatory factors.

Contacts

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Totyana Simien
Totyana.simien@inizioevoke.com

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