TxCell raises around €8m in share placement
Will use proceeds to accelerate T-Cell developments and form partnerships with CMOs
French biotechnology company TxCell has raised approximately €8m in a private placement of shares.
The proceeds of the placement will be used to accelerate development of the firm's leading T-Cell products to treat severe chronic inflammatory and autoimmune diseases, in addition to new products and forming agreements with contract manufacturing organisations.
TxCell's Chief Executive Stéphane Boissel said the company had welcomed 'new, mostly international, institutional investors, as shareholders'.
'TxCell has developed the only platform dedicated to regulatory T cells,' added Boissel. 'This is a cell population that has been described as having a significant potential to treat both auto-immunity and inflammatory conditions. The industry segment is very large with more than 80 different diseases and several billion dollars in revenue for the pharma and biotech industries. This placement should certainly help us to accelerate the development of TxCell.'
'We will also invest more in new products or programmes, such as the development of our second platform based on engineered regulatory T cells – CAR Treg,' said Raphael Flipo, CFO of TxCell. 'Manufacturing operations, specifically through agreements with contract manufacturing organisations to accelerate recruitment in the ongoing studies, will also be an important investment area in the immediate future.'