10 May, 2023

AMPLY Discovery

AMPLY Discovery a QUB spin-out, using a proprietary in silico and in vitro hybrid platform to discover best-in-class molecules it is helping tackle some of humankind's greatest challenges such as cancer, MDR infections and metabolic diseases.

Drug discovery is difficult, and rates of failure are high. Rational drug design has superseded traditional drug discovery to improve overall success rates, but the overall cost, regulatory burden and cost of failure remains high. But what if traditional drug discovery could have rocket boosters fitted so we could more effectively leverage the bounty of natural evolution? Could we leverage evolution to cut drug development timescales and reduce rates of failure? This is exactly what AMPLY Discovery does, they have developed an AI technology platform which dovetails with synthetic biology to bio-mine vast metagenomic, meta-transcriptomic, and genomic data to discover novel therapeutic compounds and evolution-derived natural medications that have a host of useful therapeutic properties.

Biologics are forecast to outstrip small molecule sales by $120 billion by 2027. AMPLY Discovery’s platform is able to discover a vast natural repository of protein, peptide and RNA based therapeutics. AMPLY is currently running seven internal development programmes, focused on multi-drug resistant infectious diseases, such as MDR Tuberculosis and chronic infections in Cystic Fibrosis, metabolic diseases and cancer.

Journey so far:

AMPLY started its journey as a PhD subject focused on the discovery of antimicrobials that could kill currently untreatable drug-resistant diseases in both animal and human health, including drug resistant Pseudomonas aeruginosa, MRSA, MDR Tuberculosis and MDR Bovine mastitis. In 2020 the team was selected for the 8-week pre-accelerator ICURe programme. Through the ICURe programme, the Amply team was able to identify potential markets for their technology, gain deeper understanding of potential technology applications and develop a business plan to bring their platform to market. They received feedback from experienced mentors and had the opportunity to pitch their technology to investors.

“ICURe provided a focus which helped to consider the business model in more depth, do detailed analysis of potential customers, and figure out how we might deploy your technology from lab to market. ICURe helps you to choose a better path with a quantitative and qualitative approach”. – Dr Ben Thomas, Chief Executive Officer

Programmes like ICURe have helped many Early career researchers to reach their potential by developing the researcher’s business outlook and providing them follow-on funding. At the end of the programme the Panel members recommended Amply Discovery for a spin-out at the options roundabout to continue the practical application of the research and create a social, environmental, and economic impact from the research. Spinouts can be a channel to flex entrepreneurial ambition, through exposure to real-world business environments, and to procure additional investment opportunities.

After completing the ICURe programme the start-up was spun out from Queen's in February 2021 (after eight years of scientific research) to commercialise its innovative drug discovery platform developed by researchers in its School of Biological Science.

“If you are an early career researcher, for many this time in your life is a great time to take a personal risk on your idea by moving down an entrepreneurial path. Early in your career the level of risk is relatively low, and even if you fail the things that you will learn can really advance your career. It can be much more difficult to take risks and leave secure employment later in life when you might have a mortgage and kids to support”. - Dermot Tierney, Chief Commercial Officer

Following their success on ICURe, the team continued to pursue funding opportunities to further their R&D efforts. They closed an additional £300k in grant funding in 2021 and £600k in equity investment in 2022. This funding came from a variety of bes, including Invest NI, Innovate UK, and QUBIS (the university’s investment fund) as well as VC funds and angel investors. This investment has allowed Amply Discovery to continue to grow and expand their research efforts across diseases beyond AMR, assessing any novel sequenced biological data to unlock its potential, and investing in deep molecular characterisation work required to validate in silico predictions.

Raising investment in the current climate was challenging but greatly helped by the support from the Queen’s University ecosystem. According to Dermot:

“A start up needs to trawl through the whole ecosystem of supports and find the right investment partners. If you have warm introductions, as we had within the Queen’s ecosystem, the process becomes much easier. I would recommend utilising the knowledge within the Technology Transfer Office at your University as this carries some weight and can be a useful source of introductions to potential investors.”

Dermot also highlighted some of the common mistakes that spinouts can make whilst commercialising their research:

• Make sure you get investors that synchronise with your personality and vision – you will be working with these people for years; it helps if you like them!
• Don’t assume everyone you talk to is right! All advice comes from the perspective of the person giving it, so assimilate all the feedback you can but only execute on what suits your goals and fits with a strategy that you agree with.
• Its great to know what you want to build from the start, but don’t be afraid to pivot.
• Don’t assume you have no competitors – if you don’t see a competitive solution being adopted by customers then you must question the significance of your problem.

Future Goals:

AMPLY has set its sights on a bright future, with ambitious goals to push its programs into in vivo trials by H2 (second half) of 2023. With a keen focus on developing topical and inhaled delivery mechanisms to combat infectious diseases such as MDR-TB and bovine mastitis, AMPLY is making great strides in the field. But the company's vision doesn't stop there. In addition to its current work, AMPLY is also strategically exploring new disease areas, such as oncology, and different classes of molecules. With a full seed round planned for H1 (First half) of 2024, AMPLY is well-positioned to achieve its goal of making a significant impact on human health and advancing medical research.

Overall participating in the ICURe programme helped AMPLY Discovery to develop a comprehensive commercialisation plan which in turn helped them launch their spin-out and secure funding for their R&D and exploitation efforts. Their success in securing pre-seed funding highlights the potential impact of their technology in the fields of cancer, metabolic disease and infectious disease and demonstrates the value of their approach to drug discovery.