ALGOTX
14.3.2023 08:02:19 CET | Business Wire | Press release
European biotech AlgoTx, the developer of first-in-class treatment ATX01 for chemotherapy-induced peripheral neuropathy (CIPN), announced today the success of a €20M Series B fundraising led by Relyens Innovation Santé / Turenne Capital , followed by UI Investissement, and historical investors Bpifrance through its Innobio 2 fund and Omnes Capital. Early and new business angel investors also significantly participated in this financing round, and AlgoTx secured an additional 1M€ in non-dilutive financing. The proceeds will be used to demonstrate the clinical efficacy of ATX01 in neuropathic pain.
Bervin Bouani, Investment Director at Turenne Capital, commented: “We are very proud to lead this strategic financing round to support AlgoTx to continue the clinical development of ATX01 lead candidate that has the potential to significantly improve the lives of patients with neuropathic pain. We look forward to working with Stéphane and his outstanding team to transform AlgoTx into a global pain player.”
Following the demonstration of ATX01’s early clinical safety and low systemic passage in Phase 1, the Phase 2 “ACT” study will now assess ATX01’s ability to reduce pain in adult CIPN patients – a program granted “fast-track” designation by FDA. In parallel, the Phase 2 “EASE” study will explore ATX01’s efficacy in the debilitating pain of erythromelalgia, a program for which ATX01 was granted “Orphan Disease Designation” in the US and Europe.
Stéphane Thiroloix, Founder & CEO of AlgoTx, says: “It is incredibly exciting to start the efficacy trials of ATX01, supported by such a high-profile syndicate of investors. We look forward to enrolling patients in our studies any day now.”
Over half of cancer patients treated with chemotherapy develop CIPN and experience sensory symptoms and pain in the hands and feet: loss of sensitivity, tingling, burning, cold and intense pain can persist for months to years after treatment. It affects over two million patients in the US and Europe and represents a leading cause for modification or interruption of chemotherapy. To this date, no therapeutic approach has offered a satisfactory response for patients and their caregivers, oncologists, neurologists and pain specialists.
« We are very pleased to support the AlgoTx team in the development of ATX01, driven by our belief in its significant impact in the treatment of CIPN and other neuropathic pain. AlgoTx can truly transform the lives of patients suffering from these conditions », says Pauline de Breteuil Senior Partner UI Investissement / FCPI Majycc Innovation Santé.
About AlgoTx
AlgoTx develops novel treatments for complex pain, with lead program ATX01 in Phase 2 in chemotherapy-induced peripheral neuropathy (NCT05593614) and erythromelalgia. More information at www.algotx.com
ACT study : ATX01 for the pain of ChemoTherapy, (NCT05593614). EASE study : Efficacy of ATX01 / Study in Erythromelalgia.
ABOUT TURENNE GROUP/RELYENS INNOVATION SANTÉ
Launched in 2014, Relyens Innovation Santé is is an evergreen venture capital vehicle specializing in health innovation controlled and owned by Relyens, a mutual insurance company specializing in the risk management of health, social and medical players. Relyens is the leading French player in medical civil liability. Advised by Turenne Santé (Health Division of Turenne Group), Relyens Innovation Santé's mission is to support the growth and development phases of innovative companies in the health sector.
Turenne Group, one of the leading private equity companies in France, has been supporting entrepreneurs for 23 years in their company’s innovation, development and transfer projects. As an independent player, the Group has assets of €1.4 billion under management. Its teams, made up of 68 professionals, including 52 investors, based in Paris, Lille (Nord Capital Partenaires), Lyon, Bordeaux, Marseille, Nice and Metz, support 290 business leaders, particularly in the healthcare, hospitality, innovation, BtoB services, and in the digital and impact sectors. With more than €300m, our healthcare team (Turenne Santé) invests across the entire value creation chain for healthcare companies through various investment approaches.
For more information: www.relyens.eu/fr / www.turennecapital.com
About Bpifrance and InnoBio 2
Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export).
InnoBio 2 is an investment fund dedicated to life sciences, managed by Bpifrance, which is also one of the LPs alongside Sanofi, Boehringer Ingelheim, Takeda, Ipsen, Servier, BMS, European Investment Fund and Pasteur Mutualité. InnoBio 2, with €203 million, aims to invest in companies developing innovative products and services, close to or in early clinical development, with the objective of bringing them until the clinical proof of concept. InnoBio 2 takes minority equity stake in companies and can lead or co-lead the investment rounds.
For more information, please visit: www.bpifrance.com – Follow us on Twitter : @bpifrance - @BpifrancePresse
About Omnes
Omnes is a leading Paris-based European investor in private equity and infrastructure. With more than €5 billion in assets under management, Omnes provides companies with the equity capital they need to grow through its four core businesses: Venture Capital, Buyout & Growth Capital, Infrastructure and Co-Investment. With more than 30 trade sales and nearly 15 IPOs in 20 years (including Themis Bioscience, Biovex, arGEN-X, Novaled and Direct Energie), Omnes Venture Capital team is a leading French player in financing innovative SMEs with dual expertise in the deep-tech and healthcare sectors. Omnes is committed to ESG issues and has set up the Omnes Foundation in aid of children’s charities. The company is also a signatory to the United Nations Principles for Responsible Investment (PRI). www.omnescapital.com
About UI Investissement
UI Investissement is an independent, specialized company in the development of unlisted French companies with €1.5 billion under management. For over 50 years, UI Investissement has been committed to work alongside the managers of growing SMEs and STIs to help them emerge as economically and sustainably successful businesses through its focus on three areas: health, agro-business, and business services.
With its expertise, UI Investissement provides support to companies in the health sector at all stages of their development and plays a central role in the ecosystem. It is through the Majycc Innovation Santé fund that UI Investissement supports entrepreneurs who aim to be the architects of tomorrow's health. The roots of Majycc Innovation Santé are deeply connected to the DNA of several private clinic groups, nursing home groups, and mutual health insurance companies, representing entrepreneurship, health and human values, respect for corporate culture, and the projects of the individuals who build them.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230314005169/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Samsung and Mistral AI Announce Strategic Partnership for Intelligence-Driven Semiconductor Infrastructure8.9.2026 18:15:00 CEST | Press release
Collaboration will focus on development and implementation of on-premises AI technologies across Samsung’s chip operationsSamsung makes lead investment in Mistral’s funding round Samsung Electronics Co., Ltd., today announced it has entered into a strategic partnership with Mistral AI to enhance its semiconductor engineering and manufacturing capabilities that will reinforce its leadership in AI chip technologies. The announcement of the partnership was made during the state summit held in Paris between South Korea and France. Under the agreement, Samsung will integrate Mistral’s AI services and solutions—including its flagship large language model, Mistral Large—across its semiconductor operations to develop customized on-premises AI models optimized for intelligence-driven infrastructure. Mistral’s powerful AI platform is expected to provide Samsung with a unique stack of tools that will transform how semiconductors are designed and manufactured. The on-premises enterprise solutions
Sensereo Airo Wins IFA Berlin Innovation Award8.9.2026 17:00:00 CEST | Press release
Prestigious Accolade Recognizes Sensereo’s Next-Generation Approach to Creating Healthier, Smarter Indoor Environments Sensereo, an environmental intelligence company developing next-generation sensing products for safer, healthier and smarter living, was presented with the prestigious IFA Berlin Innovation Award for its Airo modular indoor air quality system. The award was presented during IFA Berlin on Thursday, Sept. 4, recognizing Airo for its innovative approach to helping consumers better understand and manage the quality of their indoor environments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260906292649/en/ Winner of a 2026 IFA Innovation Award, Airo is Sensereo’s flagship environmental intelligence platform, combining advanced sensing technology with a modular design that allows users to monitor multiple aspects of indoor air quality and environmental conditions through a single, consumer-friendly system. Desig
Verdantis Rebrands as the AI Super-Agent for MRO, Sets Sights on AI-Native Enterprise Asset Management8.9.2026 16:06:00 CEST | Press release
Nine AI agents now run the MRO decision chain for Fortune 500 plants; new tagline “Anticipate. Resolve. Learn.” Verdantis, the AI company for spare parts and MRO inventory optimization in asset-intensive industries, today unveiled its new brand identity as the AI Super-agent for MRO and announced it is building toward a fully AI-native Enterprise Asset Management (EAM) platform. Verdantis’s super-agent orchestrates nine specialized AI agents across the decisions that decide plant uptime: spare parts, criticality, demand, reorder, and work order planning. These decisions set working capital, maintenance spend, and whether a critical asset runs and, in most plants, they are still made in spreadsheets and disconnected systems. The positioning is for the teams who own uptime - maintenance, reliability, and MRO supply chain leaders in oil and gas, mining, utilities, chemicals, and manufacturing. And it reflects an AI-first architecture: agents decide and act by default; people supervise, ov
HyperLight Welcomes VentureTech Alliance to Series C, Deepening TFLN Integration Across the Semiconductor Ecosystem8.9.2026 16:00:00 CEST | Press release
HyperLight Corporation ("HyperLight"), a leader in thin-film lithium niobate (TFLN) photonics, today announced that VentureTech Alliance ("VTA") has joined its Series C financing round. VTA is a venture investment firm focused on the semiconductor industry, with a portfolio built across the semiconductor technology stack — including circuit design, foundry-adjacent process technology, EDA, advanced packaging, and photonics. VTA's participation extends the ecosystem alignment that defined the round, which brought together investors spanning silicon ICs, foundry manufacturing, electronics manufacturing services, networking, and global infrastructure capital. With VTA's addition, the syndicate now reaches further into the semiconductor manufacturing and design-enablement layers on which high-volume photonics production depends. "The transition to TFLN is not a component decision — it is an ecosystem decision," said Mian Zhang, CEO of HyperLight. "Getting TFLN into volume requires the proc
EcoOnline Appoints Conor O’Loughlin as CEO8.9.2026 16:00:00 CEST | Press release
O’Loughlin brings founder, product and commercial experience spanning startup growth, global SaaS scale and M&A EcoOnline, a global provider of software that transforms how organisations protect people and the planet, today announced the appointment of Conor O’Loughlin as Chief Executive Officer, effective immediately. O’Loughlin succeeds Tom Goodmanson and will lead the Company into its next chapter of growth and innovation, continuing EcoOnline’s mission of keeping employees safe across the globe and supporting more than 11,000 customers. O’Loughlin is an experienced, growth-oriented technology operator and founder. He co-founded fitness technology company Glofox, scaling it into a global SaaS business serving customers in more than 80 countries before its acquisition by ABC Fitness in 2022. Following the acquisition, he served as Platform President and later Global Chief Revenue Officer at ABC Fitness, leading strategy across the company’s revenue-generating activities. “Keeping peo
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom