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Proceeds to fund TRO19622 and
TRO40303 to clinical proof of concept for neurological,
ischemia-reperfusion injury and liver disease indications
Marseille, September 4th, 2007 -
Trophos SA, a biopharmaceutical company focused on development and
commercialization of compounds to treat neurological disorders and other
conditions with significant unmet medical needs, today announced it has
raised EUR 8.5 (USD 11.6) million in a series C financing round. Proceeds
from the financing will be used to complete Phase 2 clinical studies of
TRO19622, in development for neuropathic pain and the motoneuron diseases
ALS & SMA, and accelerate the development of TRO40303 to clinical
proof-of-concept for ischemia-reperfusion injury. Several of these
programs address markets with annual sales potential in excess of EUR 1
billion.
New investor OTC Asset Management led
the financing and was joined by CM-CIC Capital Privé (www.cicam.com).
The company's current investors, Society General Asset Management (SGAM),
Viveris Management, Turenne Capital Partners, Blue Medical and the
Association Française contre les Myopathies (AFM) also participated in the
financing. Paul-Henry Schmelck, a partner at OTC Asset Management, joins
the supervisory board of Trophos.
"The financial support Trophos has received from these new and existing investors reflects the excitement we all share as the company approaches a series of key clinical milestones for our portfolio of proprietary drug candidates," said Antoine Béret, CEO of Trophos. "We are also pleased that the AFM has reaffirmed its support for our spinal muscular atrophy (SMA) clinical program by taking part in this round. The SMA program is a part of our ongoing commitment to motor neuron diseases. This funding allows Trophos to advance its clinical and preclinical pipeline to clinical proof-of-concept in therapeutic areas with significant unmet medical need and tremendous commercial potential."
Paul-Henry Schmelck added, "OTC
decided to invest in Trophos due to its novel phenotypic approach to drug
discovery, which has allowed the company to successfully identify and
develop a pipeline of products with broad therapeutic potential."
About Trophos:
www.trophos.com
Trophos is a biopharmaceutical
company committed to the discovery and development of novel therapeutic
compounds to treat neurological disorders and other diseases with high
unmet medical needs. Trophos has pioneered an innovative phenotypic
screening platform which has enabled it to develop a proprietary portfolio
of products, such as its lead product TRO19622, that confer a survival
benefit upon both neuronal and non-neuronal cell types (such as
cardiomyocytes & hepatocytes). This is achieved through a
mitochondria-based mechanism of action with a robust therapeutic rationale
predicted to exhibit a therapeutic benefit in diseases such as neuropathic
pain, ischemia-reperfusion injury and liver disease. The company expects
to focus its commercial efforts on the orphan indications, Amyotrophic
Lateral Sclerosis (ALS), Spinal Muscular Atrophy (SMA) and Huntington's
disease. It also seeks to establish clinical proof of concept and
partnerships in indications such as neuropathic pain, ischemia-reperfusion
injury and hepatotoxicity.
Since its inception, Trophos has
raised a total of EUR 43.5 M which includes EUR 26.5 M in equity. The
company has also received EUR 12 M in the form of research grants from
patient associations such as the AFM (Association Française contre les
Myopathies) and the CHDI Inc (USA), and EUR4 M from the French Aide à
l'Innovation (ANVAR).
Trophos was founded in 1999, is based in Marseille, France and currently has 32 employees. About OTC Asset Management:
OTC Asset Management is an
independent company managing FCPR and FCPI (French collective investment
funds dedicated to the investment in innovative SMEs). Through its funds
representing more than EUR 250 M, OTC Asset Management invests in the
capital of companies, essentially unquoted ones that present a very high
growth potential. OTC Asset Management is frequently referenced as one the
ten most active venture capital companies in France. In 2007, OTC Asset
Management was honoured as the best venture capital company in France
among 46 companies. For more information:
www.otcam.com Tel. +33
(0)1 53 96 52 50
For further information, please contact:
Andrew Lloyd & Associates
Andrew Lloyd / Neil Hunter
+44 1273 675 100 / +33 1 56 54 07 00
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