BioXell Raises Additional EUR10.5 million in Private Financing Led by TVM Capital

17-Mar-2006

BioXelly announced that it has raised EUR10.5 million in financing through an extension of the Series C round concluded in October, 2004. International life science investor TVM Capital led the financing, while BB Biotech, Index Ventures and Life Science Partners also increased their position in the Company. Hubert Birner of TVM Capital will join BioXell's Board of Directors. The NEXT fund of Finlombarda, the financial services firm of the Lombardy region, also used the financing round as an opportunity to invest in one of Italy's high profile biotechnology companies.

The new funds bring the total raised to date to EUR73 million in private financing since the Company was spun out from Roche over 4 years ago. In that time BioXell has built a strong portfolio of clinical and preclinical compounds to treat urological and inflammatory diseases. BXL628, the company's lead product candidate, has already successfully completed a Phase IIa trial in Benign Prostatic Hyperplasia (BPH), and now has a 500 patient Phase IIb trial currently underway in the same indication. BXL628 is being studied in two additional Phase IIa trials in Overactive Bladder (OAB) and Non-Bacterial Chronic Prostatitis (CP-CPPS), both of which will report out later this year. Last month the Company announced that it had in-licensed MNAC13, an anti-TrKA monoclonal antibody for the treatment of chronic pain, from Lay Line Genomics. These additional funds will help BioXell maintain a strong balance sheet despite its aggressive development schedule.

https://www.bionity.com/en/news/53153/bioxell-raises-additional-eur10-5-million-in-private-financing-led-by-tvm-capital.html