Aptinyx secures up to $50 million in financing

EVANSTON - Aptinyx Inc., a biopharmaceutical company, said Thursday it has entered into a $50 million loan agreement with K2 HealthVentures. The funds will provide general growth capital as Aptinyx advances its late-stage clinical development of therapies for the treatment of brain and nervous system disorders, the company said.

"Access to this capital provides us with additional financial resources as we advance toward three Phase 2 clinical study readouts in 2022 and initiate two additional Phase 2 studies in the coming months," said Norbert Riedel, chief executive officer of Aptinyx.

Aptinyx will receive $15 million after execution of the loan agreement from K2HV, with an option to draw down an additional $10 million, which will support the future clinical development of multiple pipeline programs. Under the terms of the agreement, the remaining $25 million is subject to the achievement of certain terms and conditions, including regulatory and developmental milestones.

Boston-based K2 HealthVentures is an investment firm focused on providing flexible financing solutions to innovative private and public companies in the life sciences and health care industries.