French Biotech Secures €19 Million IPO for Developing Therapies for Narcolepsy and Alzheimer's Disease
Theranexus Raises €19.6M to Revolutionise Central Nervous System Drug Development
Theranexus, a biotech company based in Lyon, France, has raised €19.6M through an Initial Public Offering (IPO) on Euronext Paris. The funds will be used to develop three new therapies for complex neurological diseases, including narcolepsy, sleepiness in Parkinson's, Alzheimer's disease, and neuropathic pain.
The company's strategy is unique in the Central Nervous System (CNS) field, as it focuses on combination therapies that target multiple pathways simultaneously. This approach contrasts with many traditional CNS drug developments, which often target a single molecular mechanism or symptom.
Theranexus' approach aims to improve efficacy and safety by combining known drugs with synergistic actions. Their lead candidate, THN102, is a combination of modafinil and flecainide intended to treat narcolepsy. The drugs used in these combinations are already on the market, making development faster and cost-effective due to the availability of pre-existing safety data.
According to Julien Veys, Theranexus' Chief Business Development Officer, their strategy is designed to overcome challenges faced in the CNS field, such as failed clinical trials. They are confident that their approach can be an answer to efficacy problems in the CNS field.
Theranexus is not aware of any other company that targets both neurons and glial cells in the CNS field. Their technology focuses on astrocytes, glial cells that establish cross-talk with neurons.
The company is actively seeking partnerships with pharmaceutical companies to develop and commercialize these combination therapies. After obtaining proof-of-concept data for each of its three drug candidates, Theranexus plans to look for pharma partners to take the development forward.
A Phase II study for THN102 is currently enrolling narcoleptic patients, with results expected in 2018. Theranexus also plans to launch a second Phase II trial with THN102 at the end of this year to treat excessive sleepiness in Parkinson's.
In addition, the funds raised will be used to start clinical trials and expand Theranexus' pipeline with new R&D projects. The company is trading on Euronext Paris with a market cap of €47.5M.
With this innovative approach and strategic partnerships, Theranexus is poised to make significant strides in the treatment of complex neurological diseases, offering hope to those affected by these conditions.
- Theranexus, a biotech company based in Lyon, France, has raised €19.6M through an Initial Public Offering (IPO) on Euronext Paris for developing three new therapies for complex neurological diseases like Alzheimer's disease and neuropathic pain.
- The company's strategy focuses on combination therapies that target multiple pathways simultaneously, contrasting traditional CNS drug developments that often target a single molecular mechanism or symptom.
- Their lead candidate, THN102, is a combination of modafinil and flecainide intended to treat narcolepsy, with a Phase II study currently enrolling narcoleptic patients.
- The funds raised will be used to start clinical trials, expand Theranexus' pipeline with new R&D projects, and seek partnerships with pharmaceutical companies for developing and commercializing these combination therapies.
- Theranexus' approach aims to improve efficacy and safety by combining known drugs with synergistic actions, making development faster and cost-effective due to the availability of pre-existing safety data.
- The company is trading on Euronext Paris with a market cap of €47.5M and plans to launch a second Phase II trial with THN102 at the end of this year to treat excessive sleepiness in Parkinson's.
- According to Julien Veys, Theranexus' Chief Business Development Officer, their strategy is designed to overcome challenges faced in the CNS field, such as failed clinical trials, and is confident that their approach can be an answer to efficacy problems in the CNS field.
- Theranexus is not aware of any other company that targets both neurons and glial cells in the CNS field; their technology focuses on astrocytes, glial cells that establish cross-talk with neurons, offering a unique approach in the health-and-wellness, medical-conditions, biopharma, and biotech industry, with potential implications for mental health, neurological disorders, and even Alzheimer's disease; this approach could have significant investment opportunities in the finance and technology sectors, including real-estate, data-and-cloud-computing, and technology.
