French Biotech Raises 12M to Finance Two Novel Anti-Aging Drug Trials
Biophytis completes a €10.4 M capital increase to finance mid-stage clinical trials for two novel anti-aging drug-candidates.
Stanislas Veillet, Chairman and Chief Executive Officer of Biophytis, said: “We are pleased to announce that we successfully receive commitment for capital raise, which provides Biophytis with the means to finance the clinical development programs of its two main drug candidates in age-related diseases. This raise will enable us to significantly strengthen our shareholder structure, notably thanks to the support of leading American and European investors, who have shown their confidence in the potential of our therapeutic approach.”
The Paris-based biotech completed its $12 million dollar raise it needs to begin mid-stage trials of two drugs for age-related diseases through a private placement. Biophytis is one of the biotech companies to list on the Parisan stock exchange back in 2015, and has said the time it was preparing to begin phase 2b trials of its two lead candidates. In the meantime, it has raised other funds through a number of private placements and began the process of recruiting patients and choosing clinical centers that can conduct the studies.
The new placement now allows the
company to move ahead with a 26-week trial of Mas receptor nonpeptide agonist BIO101 also known as SARA-INT that will entail 334 sarcopenic patients. It follows a six-month observational study (SARA-OBS) in three centers in the U.S. and eight in Europe at selecting patients for the interventional trial, which will be spearheaded by noted sarcopenia researcher Prof. Roger Fielding of Tufts University.The new funding will also be directed towards MACA-PK, an international clinical trial of BIO201, a PPAR alpha-targeting drug that it believes can trim oxidative stress and retinal cell death in patients with dry intermediate AMD—a condition that as of right now has no approved therapies.
The biotech’s CEO Stanislas Veillet stated that the raise will “enable us to significantly strengthen our shareholder structure, notably thanks to the support of leading American and European investors, who have shown their confidence in the potential of our therapeutic approach.”
