Bioxodes Closes €12 million in Series A Funding Round
Excerpt from the Press Release:
Bioxodes SA has received €12 million ($13M) in a Series A funding from historic investors. This financial backing includes €8.6 million ($9.3M) in capital and €3.4 million ($3.7M) in non-dilutive funding from the Wallonia region. It comes on top of the €27 million ($29.2M) in capital and subsidies previously raised by Bioxodes, bringing to €39 million ($42.2M) the total funding secured by the company since its creation.
This new funding will allow Bioxodes to continue the clinical development of its main drug candidate, Ir-CPI, for patients with intracerebral hemorrhage (ICH), right through to the end of phase IIa. The company also intends to use the proceeds to pursue new preclinical R&D work into the effect of Ir-CPI on neutrophils, which are key components in the neuro-inflammatory process.
“We’re excited to embark on the next strategic phase for Bioxodes, which will enable us to generate clinical data around the safety and efficacy of our drug candidate for patients with intracerebral hemorrhage,” said Marc Dechamps, CEO at Bioxodes. “I want to thank our historic investors for their renewed support. Our aim now is to keep our clinical development program moving forward by launching plans for our phase IIb efficacy trial, which is scheduled for 2025. With this important milestone on the horizon, we are already preparing for a Series B funding round in Q2, 2024.”
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