BRIEF—ARTHEx Biotech raises $46 million in series B round

Spanish firm ARTHEx Biotech has raised around $46 million in a series B financing round led by Columbus Venture Partners, with participation from the European Innovation Council (EIC) and others.

At the same time, current chairman Frédéric Legros has been appointed chief executive.

The clinical-stage company is focused on developing innovative medicines through the modulation of microRNAs.

The money will be used to progress lead compound ATX-01 into Phase I/IIa testing in a rare and devastating neuromuscular disorder, myotonic dystrophy type 1 (DM1).

Dr Legros said: "This will be a pivotal year as we prepare to initiate our Phase I/IIa ArthemiR study of lead compound ATX-01 for DM1, in the second half of 2023.”

"We believe that the market opportunity for a novel DM1 therapy is very attractive, given the limited number of companies in the clinic and the lack of an approved therapeutic agent," he added.