Poxel, winner of the 2023 edition of the I-nov contest
05 Luglio 2023 - 5:45PM
Business Wire
- This program rewards companies innovating on strategic
themes for French sovereignty
- Additional evidence of the technological value of Poxel's
assets
Regulatory News:
POXEL SA (Euronext: POXEL – FR0012432516), a clinical stage
biopharmaceutical company developing innovative treatments for
chronic serious diseases with metabolic pathophysiology, including
non-alcoholic steatohepatitis (NASH) and rare metabolic disorders,
announces today to be the winner of the 2023 edition of the I-nov
contest for its program in adrenoleukodystrophy (ALD), a rare
neurometabolic disease, for which there is currently no treatment.
This distinction is a recognition of the potential of the Company's
drug candidates in development for this indication, PXL770 and
PXL065.
The prize for this contest, financed by the French State via the
France 2030 plan, operated by Bpifrance in collaboration with ADEME
and awarded during a ceremony organized on July 4, 2023 in Paris,
includes a grant which will contribute in part1 in the financing of
the two phase IIa proof-of-concept clinical studies for PXL770 and
PXL065. These studies are ready to be launched in adult male
patients with adrenomyeloneuropathy (AMN), the most common form of
ALD, subject to additional funding, which the Company is currently
working on.
Thomas Kuhn, Chief Executive Officer of Poxel, states:
“This award recognizes all the efforts that our teams deploy on a
daily basis to develop innovative treatments against rare metabolic
diseases such as adrenoleukodystrophy. We are particularly proud of
this recognition of our programs and, with the support of the
France Relance program, we look forward to being able to initiate,
once we have secured additional funding, these two Phase IIa
clinical studies for this high stake’s indication”.
The I-nov contest
The "i-Nov Innovation Competition", funded by the France 2030
plan, aims to support innovative projects carried out by start-ups
and SMEs, and to promote the accelerated emergence of leading
companies in their field, which can claim global reach.
It selects, within the framework of a procedure encouraging
competition, innovative projects with particularly high potential
for the French economy. It includes co-financing for research,
development and innovative projects, with a total costs ranging
between €1 million and €5 million, and which contributes to
accelerating the development and marketing of innovative solutions
and technologies.
This competition is organized by the General Secretariat for
Investment, the Ministry of Economy, Finance and Industrial and
Digital Sovereignty, the Ministry of Ecological Transition and
Territorial Cohesion, the Ministry of Higher Education and
Research, the Ministry of Energy Transition, the Ministry of Health
and Prevention, and the Ministry of Culture.
With France 2030 plan, the State made it a priority to make
France a leader in the establishment and development of innovative
and sovereign companies whose projects promote ecological, energy,
digital or food transitions, as well as the decarbonization of our
economy and our way of life.
The i-Nov competition, funded by the French State via France
2030 plan, is operated by Bpifrance in collaboration with
ADEME.
About ALD
X-linked adrenoleukodystrophy (ALD) is an orphan neurometabolic
disease caused by mutations in the ABCD1 gene which encodes for a
key protein that is required for metabolism of very long chain
fatty acids (VLCFA) by peroxisomes (cellular organelles). ALD is
the most common leukodystrophy with a prevalence similar to
hemophilia – up to 1/10,000 individuals in the general population
have ALD [https://rarediseases.org]. Forms of this disease include
cerebral ALD (C-ALD) and adrenomyeloneuropathy (AMN) which is the
most common form – typically occurring in adolescence through
adulthood. AMN is characterized by chronic and progressive distal
axonopathy involving the long tracts of the spinal cord and to a
lesser extent the peripheral nerves resulting in progressive
stiffness and weakness in the legs, impaired gait and balance,
incontinence, and loss of sensation. Nearly all men with a
diagnosis of ALD will develop AMN, and many women also present with
features of AMN with a later onset. C-ALD is characterized by
inflammatory demyelination of cells in the brain and typically
afflicts children, but many men with AMN may also develop cerebral
disease; these white matter brain lesions lead to severe neurologic
deficits and death. There are no approved medicines for ALD (other
than glucocorticoid supplements for associated adrenal
insufficiency). C-ALD when first detected in early childhood, can
be treated with hematopoietic stem cell transplantation. HSCT is
currently limited to early stage of C-ALD and this procedure is at
risk of severe adverse reactions.
About Poxel SA
Poxel is a clinical stage biopharmaceutical company
developing innovative treatments for chronic serious diseases
with metabolic pathophysiology, including non-alcoholic
steatohepatitis (NASH) and rare disorders. For the treatment of
NASH, PXL065 (deuterium-stabilized R-pioglitazone) met its
primary endpoint in a streamlined Phase 2 trial (DESTINY-1). In
rare diseases, development of PXL770, a first-in-class
direct adenosine monophosphate-activated protein kinase (AMPK)
activator, is focused on the treatment of adrenoleukodystrophy
(ALD) and autosomal dominant polycystic kidney disease (ADPKD).
TWYMEEG® (Imeglimin), Poxel’s first-in-class product that
targets mitochondrial dysfunction, is marketed for the treatment of
type 2 diabetes in Japan by Sumitomo Pharma and Poxel expects to
receive royalties and sales-based payments. Poxel has a strategic
partnership with Sumitomo Pharma for Imeglimin in Japan, China, and
eleven other Asian countries. Listed on Euronext Paris, Poxel is
headquartered in Lyon, France, and has subsidiaries in Boston, MA,
and Tokyo, Japan.
For more information, please visit: www.poxelpharma.com
1 Up to 35% to 45% of the estimated eligible costs.
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Contacts - Investor relations / Media Aurélie Bozza
Investor Relations & Communication Senior Director
aurelie.bozza@poxelpharma.com +33 6 99 81 08 36 NewCap Emmanuel
Huynh or Arthur Rouillé poxel@newcap.eu +33 1 44 71 94 94
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