TxCell SA, a France-based biotechnology company developing cell-based immunotherapies for the treatment of severe chronic inflammatory diseases, raised €12.4m in a third financing.
The company intends to use the capital to develop its lead product candidate, Ovasave (R), an antigen-specific Treg cell-based immunotherapy for the treatment of Crohn’s disease in patients who are refractory to current treatments.
To date, TxCell has completed a first in man PhI/II clinical study carried out in France to evaluate the tolerability and efficacy of the product.
Led by Francois Meyer, chairman and CEO, The company is a spin off of Inserm (France’s National Institute for Health and Medical Research). It has been funded by venture capital since 2004 and has raised €23.9m.
TxCell is located in the technology park of Sophia Antipolis, near Nice in southern France.