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Poxel Agrees with OrbiMed to Monetize TWYMEEG® Royalties for USD 50 million

Sep 30, 2024•over 1 year ago

Contract Type

agreement

LyonBiotechnologyHealth CareBiopharma

Description

Poxel entered into a non-dilutive financing agreement with OrbiMed for USD 50 million to monetize a portion of Poxel's future royalties and sales-based payments from TWYMEEG® sales by Sumitomo Pharma in Japan. The proceeds will be used to pursue activities in the field of rare diseases, reduce the Company's debt towards IPF Partners and the PGE banks, and finance general corporate purposes.

Company Information

Company

Poxel

Location

Lyon, Auvergne Rhône Alpes, France

About

POXEL SA is a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders.

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