TxCell has raised €11M from a capital increase on Euronext Paris that will fund the company until its unique CAR-Treg technology enters the clinic.
CAR-T therapy has created plenty of expectations in the field of immuno-oncology, but recent deaths in clinical trials have shaken the confidence around the technology. TxCell, based in France, is developing CAR-Treg, a unique version of this technology with the potential of being applied to several big indications such as renal lupus, bullous pemphigoid, multiple sclerosis and rejection in solid organ transplantation.
TxCell’s capital increase offer was 100% subscribed, raising €11M that will fund research, production and other company expenses for the next year. Among the private investors that participated in the capital increase are Bpi France and the French Life Sciences VC Auriga Partners.
In particular, the funds will support the development of the CAR-Treg technology, which is expected to receive regulatory approval to enter clinical trials by the end of 2018. If everything goes according to plan, the study will be the world’s first evaluating this technology in humans.
TxCell prides itself in being the only clinical-stage cell therapy company focusing on regulatory T cells, a type of immune T cells that can modulate and suppress the activity of the immune system. Aside from its CAR-Treg technology, the company is developing two additional Treg therapies. Its lead product is Ovasave, a Treg therapy for Chron’s disease and inflammatory bowel disease (IBD) currently in Phase I/IIa.
The French biotech is still in a very early stage of development, but if everything goes well it could tap in big indications in need of better treatments. TxCell’s unique technology, inspired in some of the most exciting breakthroughs in immuno-oncology, seems to have appealed investors, reaching a 100% subscription to the capital increase offer.
Images by Crystal Light /Shutterstock; TxCell