May 18, 2020 / 5:40 AM / 11 days ago

BRIEF-Abivax Gets EUR 36 Mln Funding For Its COVID-19 Program

May 18 (Reuters) - Abivax SA:

* ANNOUNCED ON FRIDAY BPIFRANCE APPROVED EUR 36 MILLION NON-DILUTIVE FUNDING FOR ITS PHASE 2B/3 TRIAL OF ABX464 IN HIGH-RISK PATIENTS WITH COVID-19

* FUNDING ALSO COVERS MANUFACTURING SCALE-UP AND ADDITIONAL CLINICAL AND OTHER DEVELOPMENT COSTS

* FUNDING CONSISTS OF EUR 20.1 MILLION GRANT, AND EUR 15.9 MILLION LOAN REFUNDABLE UPON SUCCESS

* ABX464’S TRIPLE EFFECT WELL SUITED FOR COVID-19 TREATMENT EVALUATION IN CLINICAL TRIAL: ANTIVIRAL, ANTI-INFLAMMATORY AND TISSUE REPAIR

* ABX464 MIR-AGE PHASE 2B/3 TRIAL WAS APPROVED BY ANSM AND ETHICAL COMMITTEE CPP AND IS EXPECTED TO ENROLL FIRST PATIENTS SOON

* PROVISION OF FUNDING PLANNED TO TAKE PLACE OVER PERIOD OF ONE YEAR

* ADDITIONAL EUROPEAN REGULATORY APPROVALS IN PROCESS

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Further company coverage: (Gdansk Newsroom)

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