Exonhit Therapeutics secures new funding

Published: 2-Feb-2004

French alternative RNA splicing-based drug discovery company ExonHit Therapeutics has completed a €8.3m convertible bond financing, with existing shareholders and affiliate companies as subscribers.


French alternative RNA splicing-based drug discovery company ExonHit Therapeutics has completed a €8.3m convertible bond financing, with existing shareholders and affiliate companies as subscribers.

The proceeds will provide capital to fund operations into 2006 and give ExonHit a solid financial base on which to develop its therapeutic pipeline.

The company expects to deliver on several major milestones over the next 12 months. Final efficacy results of its Ikomio clinical trial for the treatment of amyotrophic lateral sclerosis will be available by during the fourth quarter of which year. A Phase I trial for its second small molecule compound (EHT 0202) for the treatment of neurodegenerative diseases, and two preclinical packages for major products in ExonHit's developing pipeline, EHT 0101 and EHT0204, will also be completed in 2004.

'The renewed support from our world-class group of investors is a strong vote of confidence in ExonHit's product driven strategy and a validation of our leading position in alternative splicing,' said ExonHit Therapeutics' ceo Bruno Tocque.

  

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