AlgoTx receives 0.5 M€ boost from BPIfrance.
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 ».
Paris, Nov 20th 2019