Biotechnology - IXALTIS Raises 8 Million Euros
ARCHAMPS and TOULOUSE, France, May 30, 2016 /PRNewswire/ --
Archamps Technopole (74) and Toulouse (31), 27th May 2016. The French startup specialised in genito-urinary disorders will be able to take the second step in its development, dedicated to research into urinary incontinence. IXALTIS has just successfully completed its first fundraising round, securing eight million euros to be subscribed into instalments from international investors.
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IXALTIS has been created by renowned urology and pharmaceutical experts: Dr Philippe Lluel, Christian Chavy, Dr Roberto Gradnik and Professors Pascal Rischmann and Xavier Gamé.
The startup has a Board of Directors made up of renowned leaders in the science, managerial and entrepreneurial fields and is assisted by a strategic advisory board comprising some of the world scientific leaders in urology.
The main activity of the company is biopharmaceutical research and clinical development, specialising in genito-urinary diseases. IXALTIS acquired three molecules including Litoxetine IXA-001 under exclusive licence from Sanofi, with strong evidence of efficacy in pre clinical trials convincing enough to start proof of concept/ Phase 2 in Urinary Incontinence.
Potential estimated at several hundred million euros…
IXALTIS was granted an OSEO loan of €2.8 M for the MAGENTA collaborative industrial research project dedicated to uro-genital diseases. The round A fundraising of eight million euros was subscribed by key players in the investment capital business: Irdinov, Ixo Private Equity, Principia and Sofimac. Pierre Olivier Goineau, current President of France Biotech also joined the round.
The economic stakes are high, and the potential turnover is estimated at several hundred million euros. Urinary incontinence is a field in which medical needs are not being met and Litoxetine could offer a solution for many patients. The disorder affects 400 million people around the world, mainly women and a possible new therapeutic solution is of great interest to those researching treatments for this pathology.
More information at: http://www.ixaltis.com
(Photo: http://photos.prnewswire.com/prnh/20160527/373077 )