FRANCE – AlgoTx, a Suresnes, France-based biotech-company developing treatment ATX01 for chemotherapy-induced peripheral neuropathy (CIPN), raised €20M in Series B funding.
The round was led by Relyens Innovation Santé / Turenne Capital, with participation from UI Investissement, and Bpifrance through its Innobio 2 fund and Omnes Capital. AlgoTx also secured an additional 1M€ in non-dilutive financing.The company intends to use the funds to accelerate its development efforts to demonstrate the clinical efficacy of ATX01 in neuropathic pain. Led by Stéphane Thiroloix, Founder & CEO, AlgoTx develops novel treatments for complex pain, with lead program ATX01 in Phase 2 in chemotherapy-induced peripheral neuropathy and erythromelalgia.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.15/03/2023
