AlgoTx Raises €20M to Conduct ATX01’s Phase 2 Program in Peripheral Neuropathic Pain
European biotech AlgoTx, the developer of first-in-class treatment ATX01 for chemotherapy-induced peripheral neuropathy (CIPN), announced today the success of a €20M Series B fundraising led by Relyens Innovation Santé / Turenne Capital , followed by UI Investissement, and historical investors Bpifrance through its Innobio 2 fund and Omnes Capital. Early and new business angel investors also significantly participated in this financing round, and AlgoTx secured an additional 1M€ in non-dilutive financing. The proceeds will be used to demonstrate the clinical efficacy of ATX01 in neuropathic pain.
Bervin Bouani, Investment Director at Turenne Capital, commented: “We are very proud to lead this strategic financing round to support AlgoTx to continue the clinical development of ATX01 lead candidate that has the potential to significantly improve the lives of patients with neuropathic pain. We look forward to working with Stéphane and his outstanding team to transform AlgoTx into a global pain player.”
Following the demonstration of ATX01’s early clinical safety and low systemic passage in Phase 1, the Phase 2 “ACT” study will now assess ATX01’s ability to reduce pain in adult CIPN patients – a program granted “fast-track” designation by FDA. In parallel, the Phase 2 “EASE” study will explore ATX01’s efficacy in the debilitating pain of erythromelalgia, a program for which ATX01 was granted “Orphan Disease Designation” in the US and Europe.
Stéphane Thiroloix, Founder & CEO of AlgoTx, says: “It is incredibly exciting to start the efficacy trials of ATX01, supported by such a high-profile syndicate of investors. We look forward to enrolling patients in our studies any day now.”
Over half of cancer patients treated with chemotherapy develop CIPN and experience sensory symptoms and pain in the hands and feet: loss of sensitivity, tingling, burning, cold and intense pain can persist for months to years after treatment. It affects over two million patients in the US and Europe and represents a leading cause for modification or interruption of chemotherapy. To this date, no therapeutic approach has offered a satisfactory response for patients and their caregivers, oncologists, neurologists and pain specialists.
« We are very pleased to support the AlgoTx team in the development of ATX01, driven by our belief in its significant impact in the treatment of CIPN and other neuropathic pain. AlgoTx can truly transform the lives of patients suffering from these conditions », says Pauline de Breteuil Senior Partner UI Investissement / FCPI Majycc Innovation Santé.
About AlgoTx
AlgoTx develops novel treatments for complex pain, with lead program ATX01 in Phase 2 in chemotherapy-induced peripheral neuropathy (NCT05593614) and erythromelalgia. More information at www.algotx.com
ACT study : ATX01 for the pain of ChemoTherapy, (NCT05593614). EASE study : Efficacy of ATX01 / Study in Erythromelalgia.
ABOUT TURENNE GROUP/RELYENS INNOVATION SANTÉ
Launched in 2014, Relyens Innovation Santé is is an evergreen venture capital vehicle specializing in health innovation controlled and owned by Relyens, a mutual insurance company specializing in the risk management of health, social and medical players. Relyens is the leading French player in medical civil liability. Advised by Turenne Santé (Health Division of Turenne Group), Relyens Innovation Santé's mission is to support the growth and development phases of innovative companies in the health sector.
Turenne Group, one of the leading private equity companies in France, has been supporting entrepreneurs for 23 years in their company’s innovation, development and transfer projects. As an independent player, the Group has assets of €1.4 billion under management. Its teams, made up of 68 professionals, including 52 investors, based in Paris, Lille (Nord Capital Partenaires), Lyon, Bordeaux, Marseille, Nice and Metz, support 290 business leaders, particularly in the healthcare, hospitality, innovation, BtoB services, and in the digital and impact sectors. With more than €300m, our healthcare team (Turenne Santé) invests across the entire value creation chain for healthcare companies through various investment approaches.
For more information: www.relyens.eu/fr / www.turennecapital.com
About Bpifrance and InnoBio 2
Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export).
InnoBio 2 is an investment fund dedicated to life sciences, managed by Bpifrance, which is also one of the LPs alongside Sanofi, Boehringer Ingelheim, Takeda, Ipsen, Servier, BMS, European Investment Fund and Pasteur Mutualité. InnoBio 2, with €203 million, aims to invest in companies developing innovative products and services, close to or in early clinical development, with the objective of bringing them until the clinical proof of concept. InnoBio 2 takes minority equity stake in companies and can lead or co-lead the investment rounds.
For more information, please visit: www.bpifrance.com – Follow us on Twitter : @bpifrance - @BpifrancePresse
About Omnes
Omnes is a leading Paris-based European investor in private equity and infrastructure. With more than €5 billion in assets under management, Omnes provides companies with the equity capital they need to grow through its four core businesses: Venture Capital, Buyout & Growth Capital, Infrastructure and Co-Investment. With more than 30 trade sales and nearly 15 IPOs in 20 years (including Themis Bioscience, Biovex, arGEN-X, Novaled and Direct Energie), Omnes Venture Capital team is a leading French player in financing innovative SMEs with dual expertise in the deep-tech and healthcare sectors. Omnes is committed to ESG issues and has set up the Omnes Foundation in aid of children’s charities. The company is also a signatory to the United Nations Principles for Responsible Investment (PRI). www.omnescapital.com
About UI Investissement
UI Investissement is an independent, specialized company in the development of unlisted French companies with €1.5 billion under management. For over 50 years, UI Investissement has been committed to work alongside the managers of growing SMEs and STIs to help them emerge as economically and sustainably successful businesses through its focus on three areas: health, agro-business, and business services.
With its expertise, UI Investissement provides support to companies in the health sector at all stages of their development and plays a central role in the ecosystem. It is through the Majycc Innovation Santé fund that UI Investissement supports entrepreneurs who aim to be the architects of tomorrow's health. The roots of Majycc Innovation Santé are deeply connected to the DNA of several private clinic groups, nursing home groups, and mutual health insurance companies, representing entrepreneurship, health and human values, respect for corporate culture, and the projects of the individuals who build them.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230314005169/en/
Contact information
Press
AlgoTx : Geneviève Cliquet Consultant : contact@cliquet-consultant.com
+33(0) 607 500 567
Turenne Capital : Sandra Capela : scapela@turennecapital.com ; Agence TADEO, Louis Branger louis.branger@taddeo.fr - 06 76 23 52 85
Bpifrance : Juliette Fontanillas : juliette.fontanillas@bpifrance.fr
Omnes Capital: Yanie de Nadaillac : yanie.de-nadaillac@omnescapital.com - +33(0) 7 63 13 65 74
UI Investissement : Laurent Maillard
laurentmaillard.pro@gmail.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Armis Wins 6 Global InfoSec Awards at RSAC 2024, Named “Hot” Cybersecurity Company6.5.2024 19:10:00 EEST | Press release
Armis, the asset intelligence cybersecurity company, today announced that it has won six Global InfoSec Awards from Cyber Defense Magazine at this year’s RSA Conference. Armis received the following accolades: Armis named “Hot Cybersecurity Company” Nadir Izrael, Armis’ Co-Founder and CTO, awarded “Cutting Edge Chief Technology Officer” Armis Centrix™ won multiple awards: “Cutting Edge” platform accolade in the Cyber Exposure Management category “Best Product” for Attack Surface Management “Next Gen” product for Vulnerability Prioritization and Remediation The Armis AI-powered Asset Intelligence Engine received a “Publisher’s Choice” award in the category recognizing AI Platforms for Cybersecurity Strategy Analytics “These accolades reinforce Armis’ dedication to innovation and our commitment to helping our customers solve their biggest cybersecurity problems through one comprehensive platform,” said Yevgeny Dibrov, CEO and Co-Founder of Armis. “Armis will continue to push the boundari
Edgio Named Winner of the Coveted Global InfoSec Awards During RSA Conference 20246.5.2024 19:00:00 EEST | Press release
Edgio is proud to announce it has received the Web Application Security award from Cyber Defense Magazine (CDM), the industry’s leading electronic information security magazine. According to Verizon’s Data Breach Investigation Report (DBIR), over 60% of data breaches were attributed to web applications, underscoring the urgent need for organizations to continuously manage threat exposure across their web applications and throughout the entire DevSecOps lifecycle. Committed to addressing the complex and evolving needs of organizations, Edgio continues to innovate and expand its services with its recent launch of Attack Surface Management (ASM) - a solution designed to discover all web assets, provide full inventory of technologies, detect security exposures and manage exposure response across an organization from a centralized management interface. ASM, coupled with Edgio’s holistic web security solutions and managed security services provide the industry’s first edge-enabled continuous
NetApp Appoints Market Growth and Revenue Operations Leader, Dallas Olson to Chief Commercial Officer Role6.5.2024 18:30:00 EEST | Press release
NetApp (NASDAQ: NTAP), the intelligent data infrastructure company, today announced Dallas Olson as the company’s new Chief Commercial Officer, reporting to NetApp’s President, César Cernuda. Olson brings over 25 years of experience building high-performance teams responsible for planning, operations, enablement, engagement, and go-to-market strategies. As NetApp’s CCO, Olson will oversee sales strategy driving business growth in key areas including AI and Keystone through specialist teams, enhance market presence, optimize sales models, foster strategic partnerships, champion a customer-centric approach, and drive initiatives to maintain NetApp’s position as a market leader primed for accelerated growth. “We’re thrilled for Dallas to join NetApp at a time of momentum for the company as we empower enterprises to make their data infrastructure intelligent with unified data storage built for innovation in the era of AI," said César Cernuda, President at NetApp. “Olson's previous achievem
Nanochon closes $4M Series Seed Prime6.5.2024 18:00:00 EEST | Press release
Nanochon, a Washington, DC-based orthopedic device biotech company has raised $4 million in its series seed prime fundraising round. The round was led by The University of Virginia Licensing and Ventures Group Seed Fund, with participation from Cultivate (MD), Alumni Venture Group, and Mountain State Capital, among others. Nanochon intends to use the funds to initiate its first in human clinical trials in the US in 2024, deepen research and development efforts, expand the company’s patent profile and grow its team. “We’re thrilled to close our funding round and begin our clinical program,” says Ben Holmes, CEO and co-founder. “Securing this funding is one step closer towards achieving Nanochon’s goals of eliminating the need for knee replacements, and greatly shifting the paradigm of arthritic joint care.” Nanochon will initiate a phase I trial in the US this year for its patented knee implant Chondrograft™. The device requires only minimally invasive surgery to regrow damaged cartilag
Biocytogen Enters Into Evaluation and Potential Licensing Agreement With BioCopy For TCR-mimic Antibodies6.5.2024 17:00:00 EEST | Press release
Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (“Biocytogen”, HKEX: 02315), a global biotechnology company focused on the discovery of novel antibody-based therapeutics, today announced a TCR-mimic antibody evaluation and potential licensing agreement with BioCopy AG (“BioCopy”), a research-based biotechnology company headquartered in Basel, Switzerland. The agreement grants BioCopy access to fully human TCR-mimic antibodies targeting an intracellular antigen generated by Biocytogen’s proprietary RenTCR-mimicTM mice. BioCopy will conduct an evaluation and retain the option to license these antibodies for the development of novel cancer therapies. “We are glad to provide BioCopy with our TCR-mimic antibodies,” said Dr. Yuelei Shen, President and CEO of Biocytogen. “Our in vivo matured TCR-mimic antibodies demonstrated favorable affinity and excellent specificity. Combined with BioCopy’s expertise in TCR-mimic antibody screening and engager development, we are optimistic that our collabo
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom