Sanofi-Aventis spins-out Novexel

Novexel, a new pharmaceutical company focused on the discovery and development of novel antibacterials and antifungals, has been formed as a spin-out of Aventis Pharma, a subsidiary of Sanofi-Aventis. Plans for such a move were announced prior to the merger of Aventis and Sanofi-Synthelabo (Marketletters passim). The Paris, France-based company inherits an advanced portfolio of anti-infective programs and intellectual property, and has received 40 million euros ($53.1 million) in financing from an international group of leading life science investors led by Atlas Venture and including Sofinnova, 3i, Abingworth and Novo A/S.

Novexel's assets include five compounds in development, two of which are in Phase I: NXL103, an oral antibiotic against bacterial respiratory infections, and NXL201, for the treatment of severe fungal infections. The firm's preclinical development pipeline includes NXL102, a topical antibacterial expected to enter the clinic during 2005; NXL104, a beta 7-lactamase inhibitor against nosocomial infections and NXL101, an entirely new chemical class topoisomerase IV inhibitor actiive against Gram-positive bacteria including MRSA.

Iain Buchanan, who has joined the spin-out firm as chief executive, commented: "Novexel starts life with an advanced and unique portfolio of assets. We will target established global markets where there is an increasing need for novel anti-infectives to combat drug resistant pathogens."