TxCell Completes a E10.5M Second Round and Initiates Clinical Trials
Sophia Antipolis, March 5th, 2008 â€“ TxCell, a specialty biopharmaceutical firm developing novel cell therapies for autoimmune and chronic inflammatory diseases, today announced that it had raised â‚¬10.5 million in a second round of financing. In 2007, the AFSSAPS (the French Agency for Health Product Safety) authorized the company to start its first clinical trial of a Tr1 lymphocyte-based therapy in Crohnâ€™s disease. This round of financing confirms the significant potential of TxCellâ€™s innovative approach and will enable the company to determine the clinical efficacy of treatment with autologous Tr1 cells.
This second round, led by TxCellâ€™s longstanding investors Auriga Partners, AXA Private Equity, Bioam Gestion, CDC Innovation and Seventure, will allow the company to progress its development programs on Crohnâ€™s disease (OvasaveTM), rheumatoid arthritis (CellArthrixTM) and a number of orphan diseases.
â€œThis fundraising testifies to the confidence that TxCellâ€™s longstanding investors have placed in our company and confirms the great potential of this cell therapy approach (based on the biological properties of Tr1 regulatory lymphocytes) for the treatment of autoimmune and chronic inflammatory diseasesâ€, commented FrÃ©dÃ©ric Hammel, CEO of TxCell.