AlgoTx, a Suresnes, France-based biotech-company growing remedy ATX01 for chemotherapy-induced peripheral neuropathy (CIPN), raised €20M in Sequence B funding.
The spherical was led by Relyens Innovation Santé / Turenne Capital, with participation from UI Investissement, and Bpifrance by means of its Innobio 2 fund and Omnes Capital. AlgoTx additionally secured an extra 1M€ in non-dilutive financing.
The corporate intends to make use of the funds to speed up its improvement efforts to show the scientific efficacy of ATX01 in neuropathic ache.
Led by Stéphane Thiroloix, Founder & CEO, AlgoTx develops novel therapies for advanced ache, with lead program ATX01 in Part 2 in chemotherapy-induced peripheral neuropathy and erythromelalgia.
Following the demonstration of ATX01’s early scientific security and low systemic passage in Part 1, the Part 2 “ACT” examine will now assess ATX01’s means to cut back ache in grownup CIPN sufferers – a program granted “fast-track” designation by FDA. In parallel, the Part 2 “EASE” examine will discover ATX01’s efficacy within the debilitating ache of erythromelalgia, a program for which ATX01 was granted “Orphan Illness Designation” within the US and Europe.
FinSMEs
15/03/2023
