Sofimac et al. in €8m Ixaltis series-A

Sofimac invested through its FCPI Emergence Innovation 1 fund and was joined by Principia, Ixo Private Equity, Irdi and SAS Goineau Développement & Finance as minority investors.

The company will use the fresh capital to develop its product pipeline and finance the phase-II clinical trials of lead product Litoxetine, which helps tackle incontinence issues. Positive clinical trials could lead to a successful trade sale or to follow-on financing to fund market approval.

Company
Founded in 2012 and based in Toulouse, Ixaltis is a specialist pharmaceutical company developing treatments for genito-urinary tract disorders.

The team is led by CEO Roberto Gradnik – previously head of the global neurology business unit for German firm Merck Sorono, and current president of European Biopharmaceutical Entreprises.

People
Sofimac Partners – Mario Caria (partner). 
Ixo Private Equity – Hasnaa Hafid (investment director).
Irdi – Jean-Michel Petit (investment director). 

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