Date: 2012-11-12
Type of information: Fundraising
Company: Avexxin (Norway)
Investors: Sarsia Seed, Leiv Eiriksson Nyskaping
Amount:
Funding type: series B financing round
Planned used:
Others: Avexxin, a company focusing on the development of novel small molecule therapeutics for patients suffering from chronic inflammatory conditions, has completed a series B round financing facilitated by Sparebank1 SMN Markets, Norway, with new investors joining existing stakeholders Sarsia Seed and Leiv Eiriksson Nyskaping.
Avexxin’s lead project against psoriasis is expected to enter clinical trial phase I/IIa early 2013. The company also has pre-clinical development programs against rheumatoid arthritis and glomerulonephritis.
Avexxin’s compounds target the group IV? phospholipase A2 (GIV?PLA2) enzyme, which regulates cytokine induced activation of the pro-inflammatory transcription factor nuclear factor-?B (NF-?B). This target has proven to play an important role in many chronic inflammatory disorders.
Therapeutic area: Inflammatory diseases
