France's TxCell has booked up €10.5 million (about $16 million) in a second round of venture funding. Previous investors Auriga Partners, AXA Private Equity, Bioam Gestion, CDC Innovation and Seventure all participated. TxCell, which develops therapies for autoimmune and chronic inflammatory diseases, will use the funding to progress its development programs on Crohn's disease, rheumatoid arthritis and a number of orphan diseases.
"This fundraising testifies to the confidence that TxCell'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 diseases", commented Frédéric Hammel, CEO of TxCell.
- read this release