ARTHEx Biotech, a Valencia, Spain-based clinical-stage biotechnology company, raised €42M in Series B funding.
The round was led by Columbus Venture Partners, with participation from new investors, the European Innovation Council (EIC), Hadean Ventures, and Sound Bioventures and existing investors Invivo Capital, AdBio Partners, and the Centre for the Development of Industrial Technology. In connection with the financing, ARTHEx’ present Chairman of the Board of Directors, Dr. Frédéric Legros, has been appointed Chief Executive Officer.
The company intends to use the funds to advance its lead compound, ATX-01, an antimiR designed to target microRNA 23b (miR-23b), to a Phase I/IIa clinical trial for the treatment of Myotonic Dystrophy Type 1 (DM1).
ARTHEx Biotech is a clinical-stage biotechnology company focused on developing medicines through the modulation of microRNAs. Its lead investigational compound, ATX-01, is advancing into clinical development for the treatment of myotonic dystrophy type 1 (DM1), a rare progressive muscle wasting disease. The company is also advancing its in-house discovery engine to identify and develop microRNA modulators for other disorders with high unmet medical needs, including genetically-driven diseases like DM1.
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