Luxembourg, January 19th, 2021 –TVM Life Science Innovation II SCSp today announced the fund’s investment establishing ImmunoRx Pharma, Inc., a company based in Wilmington, Delaware. ImmunoRx Pharma, Inc. plans to develop, to proof-of-concept, an anti-inflammatory biologic with the potential to treat certain types of chronic inflammatory diseases, including ulcerative colitis, rheumatoid arthritis and Crohn’s disease.
This antibody targets a new critical target in chronic inflammation and auto-immunity which was originally discovered by Dr. Philippe Tessier’s laboratory at Université Laval and Centre Hospitalier Universitaire (CHU) of Quebec. The intellectual property was subsequently licensed to InflammatoRx Inc. and humanized antibodies to the target were developed. “The management team of ImmunoRx Pharma, Inc. is excited to have the opportunity to further develop this promising anti-inflammatory agent to clinical proof-of-concept in collaboration with the TVM Capital Life Science team. Chronic inflammatory and auto-immune diseases remain a significant unmet clinical need that needs to be addressed,” said Caroline Fortier, CEO of ImmunoRx Pharma, Inc.
ImmunoRx Pharma, Inc. plans to develop the first in class antibody to a proof-of-concept study in ulcerative colitis. More than 11 million people worldwide are affected by inflammatory bowel diseases (IBD), including ulcerative colitis and Crohn’s disease. Ulcerative colitis (UC) is a long-term condition that results in inflammation and ulcers of the colon and rectum. The primary symptoms of active disease are abdominal pain and diarrhea mixed with blood.
“TVM Capital Life Science is proud to have enabled the creation of ImmunoRx Pharma, Inc., and to have secured the rights to an anti-inflammatory biologic that aims to restore the body’s immune system’s equilibrium. This transaction is a testament to the benefits of our single asset and capital efficient investment model,” said Dr. Luc Marengere, Managing Partner with TVM Capital Life Science. “Furthermore, we are pleased to collaborate with Caroline Fortier and Mark Cipriano, who will act as CEO and CFO respectively for ImmunoRx Pharma, Inc. Both have had a longstanding relationship with TVM and successful careers.”
This is the third early-stage investment for TVM Life Science Innovation II SCSp, a venture capital fund which follows a well-proven capital-efficient investment approach in order to develop pharmaceutical assets to human proof-of-concept in single-asset companies.
ImmunoRx Pharma, Inc. will leverage its extensive product development expertise to potentially bring its asset to human proof-of-concept.
ImmunoRx Pharma, Inc.
ImmunoRx Pharma, Inc. is a special purpose company created to develop one compound to proof-of-concept. The project is fully financed by TVM Life Science Innovation II. To date, the biopharmaceutical asset has completed humanization and will enter GLP toxicology studies and manufacturing in the next few months. ImmunoRx Pharma, Inc. plans to begin clinical development by the end of 2022. Once cleared for clinical development by regulatory authorities, the ImmunoRx Pharma, Inc. biologic will be tested in healthy volunteers than in patients with ulcerative colitis with the goal of providing a clinical proof-of-concept of efficacy for IBD patients. ImmunoRx Pharma, Inc. is funded by TVM Life Science Innovation II and is led by an experienced management team.
This press release contains forward-looking statements about TVM Life Science Innovation II’s investment in a pre-clinical stage compound for the treatment of certain types of inflammation and auto-immune diseases that is being developed by ImmunoRx Pharma Inc. It reflects TVM’s current beliefs.