TxCell raises 12.4 million euros to progress OvaSave

French biotech firm TxCell SA has raised 12.4 million euros ($16.1 million) in a third financing round. This additional capital was provided by the InnoBio fund, managed by CDC Entreprises, for EUR six million and by TxCell’s existing shareholders Auriga Partners and Seventure Partners.

These additional financial resources will enable TxCell to pursue the development of its lead product candidate, OvaSave, an antigen-specific Treg cell-based immunotherapy for the treatment of Crohn’s disease in patients who are refractory to current treatments.

“The technology platform developed by TxCell offers a promising new therapeutic alternative for the many patients with severe chronic inflammatory diseases and who are refractory to current treatments,” said Laurent Arthaud, deputy chief executive at CDC Entreprises, adding: “We are impressed by the innovative therapeutic approach and the encouraging positive clinical data obtained so far by TxCell. The company has a strong and experienced management team in place and capital injection will provide the necessary resources to confirm the clinical findings obtained so far and reach the next important development milestone.”

Positive tolerance and efficacy of Ovasave demonstrated