Wayne-Based AMO Pharma Raises $25 Million

AMO Pharma, a pharmaceutical company whose North American headquarters is in Wayne, has raised $25 million in a venture financing deal.

The money was invested by Woodford Investment Management, and will be put towards advancing research into treatments for rare diseases.

“Following our successful acquisition of two promising compounds, our financing with Woodford provides us with the resources we need to continue to rapidly advance our clinical development programs while also positioning us to further expand our pipeline,” Michael Snape, chief executive officer and a founding director of AMO Pharma, said in a statement.

“Our current development programs focus on two devastating rare diseases – myotonic dystrophy and fragile X syndrome – both of which have limited treatment options and represent significant commercial opportunities in drug development.”

AMO is located at 673 Thomas Jefferson Rd. in Wayne; they also have offices in London.