TVM Life Science Ventures invests in Ixchelsis

Canada-based TVM Life Science Ventures VII has announced the fund’s second investment, with Ixchelsis Ltd, a start-up company based at Discovery Park, Sandwich, Kent, UK. Ixchelsis plans to develop to proof-of-concept, IX-01, an investigational compound, originally discovered at global pharma behemoth Pfizer’s (NYSE: PFE) Sandwich, UK, R&D site (which Pfizer closed down in 2011), with the potential to treat the male sexual health indication, premature ejaculation.

“Ixchelsis is delighted to have the opportunity to collaborate with the TVM team and also to have selected Chorus, the early phase virtual drug development arm of Eli Lilly’s [NYSE: LLY] Global External R&D organization, to work with us in progressing IX-01 to clinical proof-of-concept,” said Gary Muirhead, chief executive of Ixchelsis. He added, “We also appreciate Pfizer’s significant and sustained efforts to provide Ixchelsis with the opportunity to potentially bring this therapy to patients with this surprisingly common and distressing condition.”

“There is a significant need for new treatment options for premature ejaculation, as there are currently no medicines approved by the Food and Drug Administration to treat this recognized medical condition,” said Francois Giuliano, an academic and clinical expert in male sexual health. “As clinicians, we require medications with new mechanisms of action to delay ejaculation. Oxytocin antagonists have great potential and are especially deserving of further investigation,” he noted.