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Sophia Antipolis, March 5th, 2008 – TxCell, a specialty biopharmaceutical firm developing novel cell therapies for autoimmune and chronic inflammatory diseases, today announced that it had raised €10.5 million in a second round of financing. In 2007, the AFSSAPS (the French Agency for Health Product Safety) authorized the company to start its first clinical trial of a Tr1 lymphocyte-based therapy in Crohn's disease. This round of financing confirms the significant potential of TxCell's innovative approach and will enable the company to determine the clinical efficacy of treatment with autologous Tr1 cells.
This second round, led by TxCell's longstanding investors Auriga Partners, AXA Private Equity, Bioam Gestion, CDC Innovation and Seventure, will allow the company to progress its development programs on Crohn's disease (OvasaveTM), rheumatoid arthritis (CellArthrixTM) and a number of orphan diseases.
"This fundraising testifies to the confidence that TxCell's longstanding investors have placed in our company and confirms the great potential of this cell therapy approach (based on the biological properties of Tr1 regulatory lymphocytes) for the treatment of autoimmune and chronic inflammatory diseases", commented Frédéric Hammel, CEO of TxCell.
"We are developing a novel class of immunotherapy based on the administration of autologous regulatory cells (Tr1 lymphocytes). These cells are part of our immune system (more specifically, the adaptive immune system) and possess strong immunosuppressive properties. Their anti-inflammatory action is specific for an antigen located within the lesions and is targeted exclusively at inflammatory tissues, which provides this biotherapy with an excellent risk-benefit profile", stated Arnaud Foussat, TxCell's Research & Development Director.
"The aims of the clinical trial of OvasaveTM in Crohn's disease are to check that the treatment is safe, to show initial signs of therapeutic efficacy and also to facilitate the initiation of other clinical trials based on the same technology in rheumatoid arthritis (CellArthrixTM) and two orphan indications", added Frédéric Hammel.
"This innovative therapeutic strategy is driven by three observations: firstly, the only partial effectiveness of current treatments; secondly, the high frequency of side effects in molecular approaches; and thirdly, the low average benefit-cost ratio. This new therapeutic concept should, for the first time, change the natural history of the disease by treating acute flare-ups and preventing recurrence", indicated Professor Pierre Desreumaux, the main investigator on the CATS Crohn's disease clinical trial taking place in Lille, France.
Inflammatory bowel diseases (IBDs), Crohn's disease and ulcerative colitis
IBDs affect several million people worldwide but primarily in Europe (5.5 per 100,000 people) and North America (4.5 per 100,000 people). Despite the fact that these pathologies remain poorly understood, they occur as frequently as insulin-dependent diabetes.
Rheumatoid arthritis
This pathology affects several million people worldwide - mainly in North America (35 per 100,000 people) and Europe (25 per 100,000 people).
About TxCell
TxCell SA was spun out of INSERM (France's prestigious National Institute for Health and Medical Research) in 2001. The company develops therapeutic treatments based on the biological properties of regulatory T lymphocytes (Tr1 cells). The 27-person firm is based on the Sophia Antipolis technology park, near Nice in southern France. TxCell has recently moved into new premises that are better suited to its future growth (an analytical laboratory and a cGMP production unit, etc., covering more than 1400m˛). www.txcell.com
About Auriga Partners
Auriga Partners is an independent venture capital firm based in Paris, France. It invests in innovative, high-potential ventures in information & communication technology and life science at the seed or early development stage in Europe, North America and Israel. Auriga Partners manages three funds totaling over €330 million. On top of investing the necessary capital, Auriga Partners also provides its portfolio companies with its know-how in developing and solidifying executive teams, structuring companies, broadening their networks and creating strategic & corporate alliances. For further information, please visit www.aurigapartners.com
About AXA Private Equity
AXA Private Equity - an AXA Investment Managers company - is one of the world's leading private equity firms. AXA Private Equity offers investors a broad selection of high performance funds for every market segment: buyout, expansion capital, venture capital, co-investments, infrastructure, mezzanine, primary, early secondary and secondary funds of funds. The firm manages and/or advises on more than $22 billion in funds on behalf of leading international investors. Backed by its offices in Paris, Frankfurt, London, Milan, New York and Singapore, AXA Private Equity stands out from the competition through the expertise of its teams and its wide international presence. The firm maintains a constant focus on transparency, performance and sustainable profitability.
About Bioam Gestion
Bioam Gestion is a venture capital firm based in Paris, France and focuses on early-stage investments in biotech and healthcare companies. Bioam Gestion invests in innovative, high growth potential companies that have been generated by French and European public and private-sector life science research. Its healthcare-sector investment focus includes biopharmaceuticals, medical instrumentation and diagnostics. The company currently manages €56 million in two funds. For more information, visit: www.bioam.fr
About CDC Innovation
Founded in 1996, CDC Innovation is an international venture capital firm with its head office in Paris and local presences in Silicon Valley and Switzerland. With over €415 million currently under management, our focus is on venture investments (at both the early and late stage) in two sectors: information technologies and life sciences. Our aim is to create value by providing talented entrepreneurs with the resources, experience, and network necessary to turn world-class technologies into great businesses. www.cdcinnovation.com
About Seventure
As an active partner of high growth potential companies, Seventure Partners has been investing since 1997 in innovative technology businesses - especially French and European firms addressing the ICT and life science markets. With approximately €500 million under management, Seventure Partners is one of the most active European venture capital funds. Seventure Partners is a subsidiary of Natixis Private Equity and is one of the European leaders in investment capital. In life sciences, its 4 favored investment areas are industrial biotech & cleantech, medical devices, biopharmaceuticals and nutrition & wellness. Nevertheless, Seventure Partners also invests in diagnosis, improved pharmaceutical formulations, the environment, bio-energy, skin care, well-being and services. For more information on Seventure Partners, visit www.seventure.fr
Contacts
Contact at TxCell:
David Dellamonica
dellamonica@txcell.com
Tel: +33(0) 497 218 300
ALIZE RP
Caroline Carmagnol
caroline@alizerp.com
Tel : + 33 (0) 664 189 959
Laure Perret
Laure@alizerp.com
Tel/ + 33 (0) 141 220 730
LSFM DBPC
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