ARTHEx Biotech Announces Closing of €42 M Series B Financing to Advance ATX-01, its Novel Treatment for Myotonic Dystrophy Type 1 (DM1)
VALENCIA, Spain, May 3, 2023 /PRNewswire/ -- ARTHEx Biotech S.L., a clinical-stage biotechnology company focused on developing innovative medicines through the modulation of microRNAs announced the closing of its €42 million Series B financing round led by Columbus Venture Partners, with participation from new investors, the European Innovation Council (EIC), Hadean Ventures, and Sound Bioventures. Existing investors Invivo Capital, AdBio Partners, and the Centre for the Development of Industrial Technology (CDTI) through its Innvierte program, also participated in the financing.
- Existing investors Invivo Capital, AdBio Partners, and the Centre for the Development of Industrial Technology (CDTI) through its Innvierte program, also participated in the financing.
- The Series B proceeds will be used to advance its lead compound, ATX-01, an antimiR designed to target microRNA 23b (miR-23b), to a Phase I/IIa clinical trial for the treatment of Myotonic Dystrophy Type 1 (DM1).
- There are currently no disease-modifying treatments for DM1, which affects at least 40,000 people in the U.S and 70,000 in Europe.
- In connection with the financing, ARTHEx' present Chairman of the Board of Directors, Dr. Frédéric Legros, has been appointed Chief Executive Officer.