The latest from small and Emerging Pharma companies featuring Lycia Therapeutics, Ambrose Healthcare, AM-Pharma and Estuary Biotherapeutics. 

For news on the large and mid-sized bio/pharmaceutical companies, see Global Briefs. 

* Lycia Files $265-M IPO To Support Pipeline of Protein Degraders
* Rare Disease Company Ambrose Acquires AM Pharma for $181 M
* Estuary Biotherapeutics Launches with $103 M to Develop Gene Therapies for Kidney Disease 

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Lycia Files $265-M IPO To Support Pipeline of Protein Degraders 
Lycia Therapeutics, a South San Francisco, California-based bio/pharmaceutical company developing protein degraders, has announced the pricing of its previously announced initial public offering (IPO) to support its pipeline of protein degraders for treating autoimmune, inflammatory, and allergic diseases. The company is looking to raise up to $265 million by selling 14.7 million shares of stock at $16 to $18 a share. 

The company’s lead candidates are LCA-0061 and LCA-0062, which are both designed with an aim to efficiently degrade immunoglobulin E (IgE) for the treatment of allergic diseases, including food allergies. 

Source: Lycia Therapeutics 

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Rare Disease Company Ambrose Acquires AM Pharma for $181 M 
Ambrose Healthcare, a Cambridge, UK-based bio/pharmaceutical company focused on rare diseases, has acquired AM-Pharma, an Utrecht, the Netherlands-based bio/pharmaceutical company focused on rare diseases, for EUR 161 million ($181 million).  

AM-Pharma’s lead candidate is ilofotase alfa, a Phase II-ready recombinant human alkaline phosphatase enzyme-replacement therapy engineered from two human isoforms of the enzyme. It is being developed for the treatment of hypophosphatasia (HPP), a rare, inherited chronic disease caused by low alkaline phosphatase activity, leading to bone fractures, tooth loss, muscle weakness, fatigue and pain, according to the company.  

Under the agreement, AM-Pharma’s shareholders are entitled to receive up to EUR 161 million ($181 million) comprising an upfront payment and milestone payments contingent on the commercialization of AM-Pharma’s HPP drug candidate and royalties on future sales. Other financial terms are not disclosed.  

Source: AM-Pharma 

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Estuary Biotherapeutics Launches with $103 M to Develop Gene Therapies for Kidney Disease 
Estuary Biotherapeutics, a Menlo Park, California-based clinical-stage bio/pharmaceutical company developing genetic medicines for patients with serious kidney diseases, has announced its launch with $103 million in total committed financing. 

Proceeds from the financing will support advancement of the company’s two lead programs, EST-201 and EST-101, through clinical proof of concept and to further develop its kidney-targeting platform. Estuary’s lead programs are designed to target the most common genetic subtypes of ADPKD, an inherited, lifelong, progressive disease characterized by the growth of cysts in both kidneys. Over time, these cysts enlarge, displacing functioning tissue until the organs fail, requiring dialysis or transplant. 

Source: Estuary Biotherapeutics