BioXell, an Italian spin-out from Roche, said it has raised
€10.5 million in funding from an extension of its Series C round which was first
closed in October, 2004. TVM Capital, one
of
Other investors in the round include existing shareholders
BB Biotech, Index Ventures and Life Science Partners. The NEXT fund of
Finlombarda, the financial services firm of the
“The current investors felt that in order to expedite a quick closing and minimize management time spent on the financing, the previous round would be extended on similar overall terms (except price) with similar rights,” said Francesco Sinigaglia, BioXell's CEO in an interview. “The additional funds give us the flexibility to tap the public markets at some time in the future, and enable us to continue to focus on adding value to the company by advancing compounds into development.”
Sinigaglia added the company “would consider
BioXell has a portfolio of clinical and preclinical
compounds to treat urological and inflammatory diseases. BXL628, the company's
lead product candidate, has completed a Phase IIa trial in benign prostatic hyperplasia,
and now has a 500-patient Phase IIb trial currently underway. BXL628 is being
studied in two additional Phase IIa trials in overactive bladder and non-bacterial
chronic prostatitis, both of which will report out later this year. Last month BioXell
said it had in-licensed MNAC13, an anti-TrKA monoclonal antibody for the
treatment of chronic pain, from Lay Line Genomics. BioXell currently employs 63
people and has sites in
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