Ixchelsis Ltd, a Discovery Park, Sandwich, Kent, UK-based a clinical-stage biotechnology company developing an oxytocin receptor antagonist (IX-01) for the treatment of premature ejaculation (PE), received an investment from Montreal, QC, Canada-based TVM Life Science Ventures VII.
The amount of the funding was not disclosed.
The company intends to use the capital to develop to proof-of-concept, IX-01, an investigational compound, originally discovered at Pfizer’s, Sandwich, UK, R&D site, with the potential to treat the male sexual health indication, premature ejaculation.
Led by Gary Muirhead, CEO of Ixchelsis Ltd will leverage its network in the male sexual health sector and will collaborate with Lilly’s Chorus to bring the compound to human proof-of-concept. If proof-of-concept is reached, Lilly may have the option to acquire the molecule.