€12m to develop a Crohn’s therapy
27.11.2012 - French TxCell closes a third financing round. With €12.4m, the company will bring its T cell-based immunotherapy for Crohn’s disease into Phase III.
TxCell SA is a biotechnology company from Valbonne specialising in T cell-based immunotherapies for the treatment of severe chronic inflammatory diseases. On 26 November, it announced the successful closure of a third financing round for €12.4m. The money largely comes from the InnoBio fund. Managed by CDC Enterprises, the fund accounts for €6m. The remaining amount has been provided by TxCell’s existing shareholders Auriga Partners and Seventure Partners, two venture capital firms firmly rooted in France. Both VCs have a strong background in biotechnology. Auriga also financed lab equipment specialist Cytoo SA from Grenoble, Seventure a biofuel plant in Toulouse .
These additional financial resources will enable TxCell to pursue the development of its lead product candidate, Ovasave®. The antigen-specific Treg cell-based immunotherapy is for the treatment of Crohn’s disease in patients who are refractory to current treatments. Laurent Arthaud, Deputy CEO at CDC Entreprises said: “We are impressed by the innovative therapeutic approach and the encouraging positive clinical data obtained so far by TxCell. The company has a strong and experienced management team in place, and this capital injection will provide the necessary resources to confirm the clinical findings obtained so far and reach the next important development milestone.” To date, TxCell has completed a first in man Phase I/II clinical study that proved tolerability and efficacy of Ovasave®.