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Amplyx Closes $1.5M in Financing

San Diego drug developer Amplyx Pharmaceuticals Inc. said April 8 it has closed a $1.5 million round of financing by a group of angel investors.

Golden Seeds LLC of Boston, which invests in women-owned businesses, led the round. Life Science Angels and Tech Coast Angels also participated.

Amplyx, a mostly virtual company, said it will use the investment to advance its platform technology for enhancing the properties of existing drugs. Its technology targets absorption, distribution, metabolism and excretion, or ADME. Amplyx estimates that half of all marketed drugs have one or more series ADME problems.

Connected to the most recent financing, Stanford University School of Medicine professor Dr. Mary Lake Polan will join the company’s board. Amplyx originally licensed its technology from Stanford.

— Heather Chambers

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