Fundraisings and IPOs

Date: 2017-01-09

Type of information: Grant

Company: Abivax (France)

Investors: Bpifrance (France)

Amount: €8.4 million

Funding type: grant

Planned used: The funding will strengthen Abivax’s proprietary antiviral platform by accelerating the identification and optimization of new antiviral therapeutics. It will allow Abivax to increase the throughput and further optimize its antiviral discovery platform, which is based on technologies developed together with the CNRS (Montpellier-France) and the Curie Institute (Orsay-France). The platform has already generated a focused library of over 1,000 small molecule compounds selected for their ability to block viral replication by targeting the RNA-Protein complex (RNP). This innovative approach has broad applicability for the treatment of a number of life-threatening viral diseases, including dengue, influenza and RSV (respiratory syncytial virus). The platform already has been validated by ABX464, a potential functional cure for HIV, currently in Phase II testing. In addition, the platform has generated other compounds inhibiting the replication of other viruses, including ABX311, which is in preclinical testing for treatment of Chikungunya.

Others:

• • On January 9, 2017, Abivax announced that the company will receive €8.4 million from the competitive funding call “Projets de R&D Structurants Pour la Compétitivité” (PSPC) of the “Invest in the Future Program” (PIA). This program is supervised by the General Commissariat of Investment (Commissariat Général de l’Investissement) and operated by Bpifrance.
• Under this new program, Abivax will lead a consortium, including the CNRS and qualified contract research organizations (CROs). A total budget of €18.8 was approved for the project over a period of five years. The total funding provided by Bpifrance is €10.3 million, of which €8.4 million are a mix of loans and subsidies for Abivax and €1.9 million for the CNRS.

Therapeutic area: Infectious diseases

Is general: Yes