Funding will help advance development of company’s Myotonic Dystrophy therapy
Valencia and Barcelona, Spain, and Paris, France, July 23, 2020 – Arthex Biotech (ARTHEx), a preclinical stage life sciences company focused on the development of the next generation antisense RNA therapies for the treatment of Myotonic Dystrophy Type 1 (DM1), today announces it has closed a funding round of €4.25 million ($4.9M). This round completes an initial seed round of €2.7 million ($3.1M) brought by Invivo and CDTI-Innvierte in December 2019 and in June 2020 respectively. The total funds raised by Arthex since inception are now €6.95 million ($8M).
With the new funding provided by Advent France Biotechnology (AFB) and Invivo Ventures, Arthex can ensure that its therapy will be first-in-human trial ready by 2022; on completion of the ongoing optimization of the drug candidate and subsequent preclinical regulatory studies.