Pfizer Venture Investments and TVM Life Science Ventures VII announced that they are making an additional 12 Mio. USD investment in UK-based start-up company Ixchelsis Ltd. This funding should be enabling Ixchelsis to fully fund their planned Phase 2b study of IX-01 in patients with severe lifelong premature ejaculation.
Ixchelsis had previously reported, in January 2016, that it had achieved positive clinical proof of concept (POC) for IX-01, its oral oxytocin receptor antagonist, in patients with lifelong premature ejaculation. IX-01 demonstrated significant efficacy together with a very benign safety and toleration profile in patients suffering from the most severe lifelong form of PE.
Second investment for TVM Life Science Ventures VII
„Ixchelsis is delighted to have secured this additional funding that will enable us to continue the ongoing development of IX-01 through to the completion of our planned Ph2b study, which will start dosing early next year. This funding will also support our CMC and toxicology activities enabling rapid progression to Phase 3“, said Gary Muirhead, CEO of Ixchelsis.
Ixchelsis Ltd was the second investment for TVM Life Science Ventures VII, a venture capital fund domiciled in Montreal QC, which follows a new investment approach to developing pharmaceutical assets, in a capital efficient fashion in single asset companies.