Acticor Biotech raises €1.5m in new funding
Acticor Biotech, a bio-pharmaceutical company focused on the treatment of acute ischemic stroke, has raised €1,5m from CapDecisif Management.
Acticor Biotech had already secured €1,4M in the first closing, which brings the total amount invested to €2,9M.
This new fund will enable Acticor Biotech to pursue the development of its lead candidate ACT017 in Acute Ischemic Stroke, toward its entry in Phase I Clinical Trial.
Thanks to encouraging pre-clinical results and positive regulatory meetings, Acticor Biotech should start its Phase I 6 months earlier than originally planned. The first subject could thus be scheduled for early Q4 2017.
In January 2017, the society received a positive feedback from the MHRA (UK Medicine & Healthcare products Regulatory Agency) in London about its pharmaceutical and preclinical package, and secured its first GLP (Good Laboratory Practice) Batch for the Toxicology Package.
Acticor Biotech CEO Gilles Avenard said: “This second closing will support the finalization of our preclinical package for our Drug Candidate ACT017 and will allow our lead candidate to enter into Clinical Phase I in Q4 2017. This new financing represents a new significant milestone for the company, after the signature of a R&D Partnership Agreement with Mediolanum farmaceutici at the end of 2016. We thank CapDecisif Management for their confidence in our stroke-treatment technology and welcome them on Board.”
Prof Mikael Mazighi, from INSERM and member of Acticor’s clinical advisory board added: “I am looking forward to seeing ACT-017 entering Ph.1. Acticor’s therapeutic approach is promising as add-on therapy to thrombolysis, totally in line and compatible with mechanical thrombectomy, the current paradigm shift we are experiencing in treating Acute Ischemic Stroke. ACT-017 may improve this current breakthrough thanks to its antithrombotic properties and its safety profile, a paramount in Acute Ischemic Stroke.”
Catherine Boule, Partner of CapDecisif Management, commented: “Following Acticor’s progress since its early inception, we are impressed by the delivery of the team, gaining 6 months in its planning. We are delighted to invest in Acticor Biotech at such an important time for the company and to finance the first in man of its drug candidate.
"ACT-017 has the potential to be a game changing drug in the major area of Acute Ischemic Stroke, global unmet medical need in which the latest drug was approved 20 years ago.”
Source: Company Press Release