AirNexis Therapeutics has launched as a clinical-stage biotechnology company focused on pulmonary diseases, closing a $200 million Series A financing and securing an in-license to a Phase 2 dual PDE3/4 inhibitor for chronic obstructive pulmonary disease (COPD) from Haisco Pharmaceutical Group.
The oversubscribed financing 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. AirNexis said the proceeds will be used to fund global clinical development of AN01.
The company’s lead program, AN01 (also known as HSK39004), is a dual phosphodiesterase 3/4 inhibitor designed to deliver a synergistic effect through a dual mechanism of action. AirNexis said the approach is intended to promote bronchodilation while reducing the release of inflammatory factors, with the goal of improving airflow limitation and airway inflammation for maintenance treatment in COPD.
AirNexis noted that two dosage forms are available for the program—an inhalation suspension and an inhalation powder—positioning the candidate as a potential alternative to existing options on both efficacy and patient experience. Haisco is currently studying both dosage forms in Phase 2 clinical trials in China and will retain development rights in Mainland China, Hong Kong, Taiwan and Macau.
As part of the licensing arrangement, AirNexis acquired exclusive rights to develop AN01 outside of China. Haisco will receive a 19.9% equity stake in AirNexis and a $40 million upfront cash payment upon signing. Haisco is also eligible for regulatory and commercial milestone payments of up to $955 million, along with low double-digit royalties on net sales in AirNexis’ territories.
AirNexis is building its leadership team around CEO Maria Fardis, Ph.D., MBA. The company’s board will be chaired by James Li, M.D., a venture partner at Frazier Life Sciences and a co-founder and former CEO of JW Therapeutics. Other board members include Anna Chen, Ph.D. (Frazier Life Sciences), Evan Caplan, M.D., MBA (OrbiMed), Jill Carroll (SR One), and Colin Walsh, Ph.D. (Life Sciences at Goldman Sachs Alternatives).
KEY QUOTES
“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. With two dosage forms available, an inhalation suspension and an inhalation powder, AN01 may offer meaningful therapeutic options over those that are currently available.”
Maria Fardis, Ph.D., MBA
Chief Executive Officer, AirNexis Therapeutics
“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. 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.”
Anna Chen, Ph.D.
Partner, Frazier Life Sciences
