TxCell raises approx. EUR 8 million through a private placement of 10 percent of its common shares
TxCell SA announced the successful completion of a private placement of a total amount of approximately EUR 8 million.
“We are extremely pleased to welcome on board new, mostly international, institutional investors, as shareholders. Whilst TxCell operates in a mainstream technology, cellular immunotherapy, we have a radically different approach compared to other industry players,” said Stéphane Boissel, CEO of TxCell. “TxCell has developed the only platform dedicated to regulatory T cells. This is a cell population that has been described as having a significant potential to treat both auto-immunity and inflammatory conditions. The industry segment is very large with more than 80 different diseases and several billion dollars in revenue for the pharma and biotech industries. This placement should certainly help us to accelerate the development of TxCell.”
“Proceeds of the placement will be used by TxCell to finance the ongoing developments in our leading two products. We will also invest more in new products or programs, such as the development of our second platform based on engineered regulatory T cells - CAR Treg,” said Raphael Flipo, CFO of TxCell. “Manufacturing operations, specifically through agreements with CMOs (Contract Manufacturing Organizations) to accelerate recruitment in the ongoing studies, will also be an important investment area in the immediate future.”
Stéphane Boissel, CEO of TxCell, subscribed 20,000 new shares, representing approximately 1.71 percent of the private placement.
Other news from the department business & finance
