Arthex Biotech, a Valencia, Spain-based preclinical stage life sciences company focused on the development of the next generation antisense RNA therapies for the treatment of Myotonic Dystrophy Type 1 (DM1), closed a funding round of €4.25m ($4.9M).
Backers included Advent France Biotechnology (AFB) and Invivo Ventures.
This round completed an initial seed round of €2.7m ($3.1M) brought by Invivo and CDTI-Innvierte in December 2019 and in June 2020 respectively.
The total funds raised by Arthex since inception are now €6.95m ($8M). In conjunction with the financing, Alain Huriez, chairman and managing partner at AFB, will join Arthex’s board of directors, alongside the managing partners of Invivo Ventures, Luis Pareras and Albert Ferrer.
The company intends to use the funds to develop its therapy and complete the ongoing optimization of the drug candidate and subsequent preclinical regulatory studies.
Co-founded by Dr. Rubén Artero and Dr. Beatriz Llamusí in September 2019, Arthex Biotech aims to develop an antisense RNA therapy against miRNAs for type 1 Myotonic Dystrophy (DM1), a neuromuscular disease with genetic origin and is considered an orphan disease.