Novexel

Company: Novexel
Financing: $64.7 million
Website: http://www.novexel.com/

In January of 2007 Novexel landed €50 million ($64.7 million) in a second round of financing. The round was led by new investor Edmond de Rothschild Investment Partners of Paris along with Atlas Venture, Sofinnova, Abingworth, 3i, Novo A/S, BIT, Goldman Sachs, NeoMed and NIF SMBC.

Novexel is taking aim at the hot anti-infectives market that is being fueled by increasingly resistant superbugs. The company already has three antibacterials in Phase I clinical trials. An additional anti-fungal drug--NXL201--is undergoing reformulation studies after initiation of Phase I clinical trials. Novexel says that the funding will carry the company through 2009, and that it will look to in-license additional drug candidates to further bolster its pipeline.

Related Articles:
Novexel licenses anti-fungal drug. Report
New compounds combat bacteria's defenses. Report

 

Novexel
Read more on

Suggested Articles

Reata’s bardoxolone improved kidney function in a phase 3 trial of patients with a rare form of chronic kidney disease.

The suit alleges the FDA imposed the hold “without notice or explanation” and has since “rebuffed” Regenxbio’s repeated requests for an explanation.

Bolt Biotherapeutics presented positive results from animal trials of its lead drug, a tumor-targeting antibody connected to an immune stimulator.