French clinical-stage biotech Abivax secures €75m for product development
The Claret European Growth Capital Fund III (the Fund), a fund advised by Claret Capital Partners, has participated alongside Kreos Capital, in investing up to €75 million into Abivax, a French clinical-stage biotechnology company. The financing was arranged over multiple tranches and will continue to support Abivax’s investment into its ulcerative colitis global pivotal phase III programme for its lead drug, Obefazimod.
The funds raised will support the continued development of its lead drug candidate, Obefazimod, as a treatment for ulcerative colitis and other chronic inflammatory diseases, as well as for working capital and general corporate purposes. The deal was led by David Bateman (Managing Partner), Daniel Mallon (Vice President) and George Morgan (Analyst) of Claret Capital Partners, who are delighted to have worked alongside the respective teams in Kreos, Abivax and Bryan Garnier in closing the financing round.
Claret has advised the Fund on a number of investments into healthcare companies over the last year, notably Cardiac Dimensions, Endomag, Altratech and Impress. Feel free to reach out to any of the team if you’d like to hear more on our recent activity.
David Bateman, Managing Partner, Claret Capital Partners: ''We’re delighted to have advised on the investment into Abivax, alongside the Kreos team. With the impressive long-term safety and efficacy seen in Phase IIa and Phase IIb trials, the Fund’s investment reflects our belief that Obefazimod can have a significant positive impact on the lives of patients.''
Marc de Garidel, CEO, Abivax: "We believe that the strength of the data we have generated in our Phase 2 clinical trials uniquely position obefazimod as a potential leader for treating moderately to severely active ulcerative colitis ("UC"). The entire Abivax team is committed to bringing obefazimod to the market for the benefit of the many UC patients in need of safe and long-term efficient treatment options. We believe this additional capital will allow us to pursue that mission with an even more intense focus."
www.claret-capital.com
www.abivax.com
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