EIB funding for Minoryx' rare genetic diseases research
The European Investment Bank (EIB), backed by the European Fund for Strategic Investments (EFSI), will provide 25 million euros ($29 million) of financing to Minoryx Therapeutics, a Spanish biotech company specializing in the advancement of treatments for rare central nervous system disorders.
The newly-available funding will thus benefit Minoryx' research and development activities in orphan genetic diseases for which there are currently no approved drugs available.
Just over a month ago, Minoryx signed a deal with China’s Sperogenix Therapeutics exclusive rights to develop and sell leriglitazone, Minoryx' brain penetrating disease-modifying PPAR-γ agonist the therapy, in China, Hong Kong and Macau, for X-linked adrenoleukodystrophy (X-ALD). This deal is worth a potential $78 million.
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