Abivax Banks €130m To Advance Obefazimod
In Phase III For Ulcerative Colitis
The French biotech has attracted a raft of new US healthcare specialist backers in one of the biggest raises ever on the Euronext Paris but it will need millions more to complete the late-stage program for obefazimod.
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The French biotech has been making steady progress in raising the funds needed to advance obefazimod and this week has seen new equity backers Kreos, Claret and Heights come onboard.
With a strong late-stage anti-inflammatory molecule in its pipeline, the challenge for Abivax is to garner the funds to take its obefazimod program forward. To that end, the company is continuing to do a major overhaul of personnel and is sharpening its corporate vision.
Detailed data presented at Digestive Disease Week show competitive efficacy in ulcerative colitis and a potential best-in-class safety profile for the S1P receptor modulator Pfizer acquired earlier this year.