Pharnext's lead program is PXT3003, which is being evaluated in the pivotal Phase III PREMIER trial for CMT1A. The company highlights its use of genomic big data and artificial intelligence in its technology approach. Its near‑term priority is to complete the pivotal Phase III study for which there is currently no approved treatment. To strengthen its cash position and continue the trial, Pharnext signed a financing agreement intended to extend its runway. Management says the program relieves a financing overhang and allows the company to pursue its business plan to create value for patients and shareholders. The financing is presented as enabling the company to manage cash needs while maximizing flexibility. Pharnext develops therapies based on its Pleotherapy™ platform and is advancing Pleodrugs for severe neurological conditions, including Charcot–Marie–Tooth disease type 1A (CMT1A) and Alzheimer’s disease. The company’s lead Pleodrug is in a Phase II clinical study for CMT1A, and Pharnext announced completion of patient recruitment in November 2011. Pharnext plans to continue its Alzheimer’s program and scheduled initiation of clinical trials in 2012. In 2011 the company raised a total of €10.5 million to fund R&D and clinical activities. The fundraising proceeds are earmarked to complete the ongoing Phase II study and to advance the Alzheimer’s program. Pharnext is led by co‑founder and CEO Professor Daniel Cohen. Pharnext develops innovative treatments based on its Pleotherapy™ approach, which combines mini-doses of multiple off-patent drugs into patented Pleodrugs™ discovered via its proprietary NEXUS genomic process. Its lead program is PXT3003, a Pleodrug™ for Charcot‑Marie‑Tooth (CMT) disease that entered Phase II trials in December 2010. The company plans to accelerate clinical development of its Pleodrug™ in CMT and to pursue discovery of additional Pleodrugs™ targeting six other serious diseases, including Alzheimer’s disease. Pharnext has assembled a range of non-dilutive and equity financing and partnerships, including grants and strategic agreements that underpin its development work. Notable prior funding and support cited include a €3.5M seed round (December 2007), a €4.75M round (June 2010), a €3.4M OSEO grant (2007), an AFM grant (2009), and leadership of the DIPPAL project (total €10.4M, with Pharnext receiving €7.3M). The company also has an agreement with Ipsen potentially worth up to €94M in upfront fees and milestones. Pharnext is a Paris-based biopharmaceutical company that uses a proprietary discovery engine to identify rational drug combinations called Pleodrugs™. Its core approach is developing combination therapies targeting severe neurological diseases and other pathologies. The company closed a €4.8m Series A to advance its programs. The funds will allow Pharnext to consider launching the first human clinical trials of its Pleodrug in Charcot‑Marie‑Tooth disease during 2010. It will also continue in vitro and in vivo research programmes in Alzheimer’s disease, chemotherapy-induced peripheral polycystic kidney disease, amyotrophic lateral sclerosis, hyperlipidaemia, neuropathy and diabetes. Investors in the round include Truffle Capital, Aurinvest Capital 2, Financière Boscary and entrepreneurs Charles Beigbeder, Claude Darmon and Olivier Fulconis.

Total raised

$119M

Funding rounds

4

Latest round

Convertible Note

Latest activity

Jun 2021