Belgium-based Movetis was founded in 2006 after the company acquired a portfolio of gastrointestinal candidates from Johnson & Johnson subsidiaries Janssen and Ortho-McNeil. In January, the company landed a â‚¬49 million ($63.5M) first round led by Sofinnova Partners and Life Sciences Partners. Sofinnova Ventures, KBC, GIMV, Quest for Growth and BIP Investment Partners also participated.
The companyâ€™s lead candidate is RESOLOR, which is in Phase III development for the treatment of severe chronic constipation and is expected to his the market by 2009. A second compound, M0002, is in Phase IIa development for treatment of ascites. Movetis has two other clinical-stage candidates: one for pediatric reflux and a second for diabetic gastroparesis.