Ixaltis, a Toulouse, France-based startup specialized in genito-urinary disorders, raised €8m in first funding.
Backers included Irdinov, Ix o Private Equity, Principia, Sofimac, and Pierre Olivier Goineau, current President of France Biotech.
The company will use the funds to continue research into urinary incontinence.
Created by urology and pharmaceutical experts Dr Philippe Lluel, Christian Chavy, Dr Roberto Gradnik and Professors Pascal Rischmann and Xavier Gamé, Ixaltis is a biopharmaceutical research and clinical development company specializing in genito-urinary diseases.
The company acquired three molecules including:
– Litoxetine IXA-001* under exclusive licence from Sanofi and, with evidence of efficacy in pre clinical trials, started proof of concept/ Phase 2 in Urinary Incontinence,
– IXA-002, an MAO A-B inhibitor, and
– IXA-003, an MAO B inhibitor.
Ixaltis was also granted an OSEO loan of €2.8m for the MAGENTA collaborative industrial research project dedicated to uro-genital diseases.
*IXA-001 (Litoxetine) Litoxetine is an oral highly specific mixed serotonin agonist-antagonist. It was extensively evaluated by Sanofi previously in a CNS indication. The company has studied litoxetine in three different animal models of UI.