Adynxx

About Adynxx

Adynxx, Inc. is a clinical-stage biopharmaceutical company that develops therapies to address pain and inflammation by focusing on its molecular origins. Founded in 2007 by Julien Mamet, the company is headquartered in San Francisco, California. Mamet, who serves as the Chief Scientific Officer, invented the company's core AYX technology platform based on his background in neuroscience and drug discovery.

The company's business model centers on developing and commercializing its portfolio of drug candidates. Adynxx utilizes a proprietary technology involving transcription factor decoys, which are synthetic DNA oligonucleotides designed to inhibit gene networks responsible for pain and inflammation. This approach aims to create disease-modifying treatments rather than merely symptomatic relief. Adynxx's lead product candidate, brivoligide (formerly AYX1), is a non-opioid therapeutic administered at the time of surgery to reduce post-operative pain and prevent its transition into a chronic condition. Brivoligide received Fast Track designation from the U.S. Food and Drug Administration (FDA). The company's pipeline also includes AYX2, a candidate for treating chronic neuropathic and inflammatory pain.

Historically, Adynxx has progressed through multiple funding rounds, raising a total of $35.6 million, including a $16 million Series B round in 2017 led by TPG Biotech with participation from Domain Associates. A significant milestone occurred in October 2018 when Adynxx entered into a merger agreement with Alliqua BioMedical, a move designed to gain a Nasdaq listing and access public markets to advance its clinical programs. The merger was completed in May 2019, after which Alliqua was renamed Adynxx, Inc. and began trading under the ticker ADYX. However, the company faced challenges in meeting Nasdaq's listing requirements and received a delisting notice shortly after the merger, subsequently moving to the OTCQB market. The stock's suspension from Nasdaq was finalized in June 2019, with delisting completed in July 2019.