The proceeds will finance the clinical development program of AZP531 (an unacylated ghrelin analog) in Prader-Willi syndrome and type 2 diabetes
Bpifrance led the financing campaign via the InnoBio fund
Alize Pharma SAS, an Alize Pharma group company specialized in the development of biopharmaceuticals to treat metabolic disorders and rare diseases announced that it has closed a new financing round of EUR 5 million (USD 6.6 million).
The funds will be used to continue the clinical program for AZP531, including the set-up and completion of two clinical trials: a Phase II trial in hyperphagia associated with Prader-Willi syndrome and a Phase Ib trial in type 2 diabetes.
The French public investment bank Bpifrance led the operation via the InnoBio fund. The InnoBio fund has taken an equity stake in the company with an investment of EUR 3.5 million (USD 4.6 million). Alize Pharma SAS’ historical investors: Octalfa, Sham Innovation Sante, CEMA and Tab Consulting have also contributed. Since its creation in 2007, Alize Pharma SAS has raised a total of EUR 10 million (USD 13.2 million).
Olivier Martinez and Mounia Chaoui (on behalf of Bpifrance and Sham Innovation Sante) will join the board of directors at Alize Pharma SAS. Its other members are Gilles Alberici from Octalfa, Andre de Villers from CEMA and Thierry Abribat from TAB Consulting.
AZP531 is a stabilized analog of unacylated ghrelin, a gastro-intestinal hormone. It is under development by Alize Pharma SAS for use in various metabolic and cardiovascular indications. Two new clinical trials are expected to be launched in the last quarter of 2014. The aim is to provide preliminary data on the efficacy of AZP531 in two indications: hyperphagia associated with Prader-Willi syndrome, a rare genetic disorder, and type 2 diabetes, a metabolic disease accounting for 90 per cent of the world’s diabetics (WHO, 2013). The trials follow on from two Phase I clinical trials carried out in healthy volunteers over the last 12 months.
“This injection of EUR 5 million (USD 6.6 million) marks a fundamental step forward for Alize Pharma. It will help generate the first efficacy data for AZP531 in the target indications,” said Thierry Abribat, manager of TAB Consulting, president of Alize Pharma. “We wish to thank our existing investors for their renewed confidence and we are delighted to welcome Bpifrance via the InnoBio fund. Their involvement is solid recognition of our organization and the AZP531 program.”
“Our investment is driven by the significant potential of Alize Pharma, particularly its AZP531 program, and the relevance of its business model, which is well-suited to the new requirements of the pharmaceutical industry,” said Olivier Martinez, investment director at Bpifrance. “The Alize team has sound expertise and the experience that is needed for successful development.”