Phenex Raises €6M in Series C Financing

Phenex Pharmaceuticals AG, a Ludwigshafen, Germany-based drug discovery and development company, closed a €6m Series C financing round  (approximately $7,8m).
This brings the total amount raised by the company through three rounds of funding (from 2005 to 2010) to €17,2m ($22,4m). Investors inclde EVP Capital Management/VRP, LBBW Venture, Creathor Venture, Swiss Life, CD-Venture, KfW, private individuals from the pharmaceutical industry.
Phenex, which focuses on novel attractive nuclear receptor targets to develop innovative small molecule therapeutics in the fields of metabolic syndrome/NASH and in autoimmune diseases, will use a part of the funds to advance its FXR program to take its compound, Px-102, up to a Phase IIa proof of concept clinical study.
The company also will develop its new research program in RORgt/autoimmune diseases such as Rheumatoid Arthritis, Multiple Sclerosis, Inflammatory Bowel Disease, Psoriasis and others.

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