(News Bulletin 247) – Abivax on Thursday unveiled a new strategic roadmap focused on preparing for the potential commercialization of its lead drug candidate in the treatment of inflammatory diseases
bowel syndrome (IBD).
The biopharmaceutical company says it is ready to write a new chapter by strengthening its presence in the United States, where the company is currently working on extending patent protection for obefazimod, its main molecule.
Abivax says it has recruited an experienced management team to support obefazimod’s preparation for commercialization in the United States.
The company, which this year completed two equity and debt financings with leading investors, explains that it has available cash of 118 million euros which should enable it to finance its operations until the end. of the second quarter of 2024.
Beyond its recent drawdowns, its financing horizon could be extended until the fourth quarter of 2024 thanks to additional financing of 90 million euros through existing loans.
Abivax said it intends to continue to evaluate opportunities to increase its capital and achieve its clinical development goals, with key results expected through 2026.
Listed on the Paris Stock Exchange, the action fell 4% on Thursday following all these announcements.
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