Established in 2018 to develop topical treatments for complex pain, AlgoTx raised 2.6M€ last June towards the development of its lead program ATX01 in Chemotherapy-Induced Peripheral Neuropathy, and now gains further momentum from BPIfrance’s injection of 0.5 M€.
Supported by the European Union’s financial support via the Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI), this « PAI FEI » financing will enable AlgoTx to complete its pre-clinical program and initiate early clinical phases of ATX01’s development in CIPN.
Stéphane Thiroloix, President of AlgoTx, comments : « It is particularly encouraging that BPIfrance should validate our ambition precisely when we our pre-IND exchange with the FDA enables us to finalize a definitive development plan ».
One-year old AlgoTx announced it completed a 2.6M€ in Seed Capital. The French biotech start-up, hosted by the Paris Biotech Santé incubator is developing ATX01, a treatment for neuropathic pain caused by chemotherapy.
Chemotherapy Induced Peripheral Neuropathy (CIPN)
Over half of cancer patients treated with chemotherapy develop CIPN and experience sensory symptoms and pain in the hands and feet1: loss of sensitivity, tingling, cold and intense pain2can persist for months to years after treatment3,4. CIPN can prevent patients from walking or using their hands, thus deeply affecting their quality of life.
CIPN is found in over two million patients each year in the US and Europe5,6, representing the first cause for modification or interruption of chemotherapy. To this date, no therapeutic approach has offered a satisfactory response for patients and their caregivers, oncologists and pain specialists.
AlgoTx, a French Biotech developing ATX01 for the treatment of Chemotherapy-Induced Peripheral Neuropathy, announced on February 11th 2019 the appointment of Axel Le Cesne to its Scientific Advisory Board, followed by the appointment of Alain Eschalier on May 19th 2019.
Axel Le Cesne is Associate Professor of Medicine. Head of Medical Oncology Hospital Unit at Gustave Roussy, France. He headed the Bone/Soft Tissue Sarcoma Unit from 1995 to 2016. Axel is a member of ASCO, ESMO, EORTC Soft Tissue and Bone Sarcoma Group (STBSG). He served as Co-chair & Secretary of the French Sarcoma Group 2001-2005 and has been a member of the Board of Directors of the Connective Tissue Oncology Society since 2010. Axel is a member of French Academy of Medicine.
Alain Eschalier is a pharmacist, a Medical Doctor and a Pharmacologist. He is Professor of Medical Pharmacology and former President of the Université d’Auvergne. Alain created and led several research units within INSERM and chairs the Analgesia Institute.
In order to strengthen its strategic and operational ability, AlgoTx appointed a new Board of Directors consisting of Jean-François Labbé (Chairman), Hugues le Bret and Fabrice Aurousseau as well as Stéphane Thiroloix, Founder and CEO of AlgoTx.
Jean-François Labbé (MBA), founded SpePharm Holding BV and was its CEO from 2006 to 2012. He was previously CEO of OTL Pharma SA from 2001 to 2004, COO of ProStrakan UK from 2004 to 2005, and Pdt of Parke-Davis France/ Warner-Lambert (Pfizer Group) from 1999 to 2001. Jean-François began his career at Hoechst Roussel in 1974, held GM positions in Europe, South Africa and the US. In 1995, he was appointed President, Europe Middle East Africa and member of the ExCom of Hoechst Marion Roussel until its merger with Aventis in 1999. He is a Board member at NicoxSA and Deinove, and served on the Board of Transgene.
Hugues Le Bret is the Founder & Pdt of the Supervisory Board of Compte-Nickel since 2012. He became Adviser to the CEO of BNP Paribas in 2017 when the latter acquired Compte-Nickel. From 1999 to 2009 he was the Pdt & CEO of Boursorama, after being Dir of communication & ExCom member at Société Générale. Hugues started as an economy journalist in 1987, then worked at Publicis for 3 years. He founded ABW in 1993, a financial communication company sold to Havas in 1996, and was then CEO of financial communication activities at Havas until 1999.
Fabrice Aurousseau (IEP / Sc.Po, Master in Public Law), is the Co-Founder of the M&A Advisory firm Eponyme Partners, and the CEO & Co-founder of the R&D consulting firm PPRS Research. He served previously in activities of Corporate Finance at Compagnie Financière E. de Rothschild and BNP Paribas.
Stéphane Thiroloix (HEC) is the Founder, President & CEO of AlgoTx. Stephane is the Chairman of the Board at Jellagen Marine Biotechnologies, and strategic advisor to Hoalen and Ythera. Prior to founding AlgoTx, Stephane served as CEO of Mayoly-Spindler (2014-2018), EVP Europe at Smith&Nephew (2012-2014), EVP Corporate Dvt at Ipsen (2007-2012), VP Europe & GM France at Bristol-Myers Squibb (2002-2007), VP Europe Business Dvt at GSK (1998-2002). Stephane started his career at Roussel Uclaf (HMR / Sanofi) and occupied central and affiliate leadership positions between 1987 and 1998.
AlgoTx is a French biotech start-up, hosted by the Paris Biotech Santé incubator developing ATX01, a treatment for Chemotherapy-Induced Peripheral Neuropathy.