Sofinno­va lends Abi­Vax a hand for PhII an­ti-in­flam­ma­to­ry tri­als, pick­ing up €12M worth of stock

Paris-based Abi­Vax has se­cured a life­line from Sofinno­va Part­ners to keep steer­ing its lead drug to­ward clin­i­cal mile­stones in 2020.

The €12 mil­lion ($14 mil­lion) cap­i­tal raise buys Abi­vax some time — un­til the end of Q2, 2020 — to ex­e­cute sev­er­al Phase II stud­ies for ABX464, in­clud­ing ul­cer­a­tive col­i­tis, rheuma­toid arthri­tis and Crohn’s dis­ease. Abi­vax will al­so di­rect some funds to­ward ABX196, a po­ten­tial treat­ment for he­pa­to­cel­lu­lar can­cer.

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