Advicenne raised a €27m IPO on Euronext Paris

At the beginning of december Advicenne, based in Nîmes, France announced the completion of its initial public offering (IPO) on Euronext Paris raising a total of €27m by way of a capital increase. „This fundraising is an important milestone for our company which was created ten years ago, and it will allow us primarily to further the clinical development of ADV7103 in the United States and Europe and to create the commercial organisation we need to launch the product in Europe for its lead indication in 2020, states Luc-André Granier, CEO and co-founder of Advicenne.

The company will use the money to further develop its lead candidate ADV7103, the first treatment for a rare kidney disease called distal renal tubular acidosis (dRTA), and to continue its clinical development in the United States in this indication. In September ADV7103 has shown positive results in a pivotal phase III study in children and adults with dRTA. It can keep the blood bicarbonate levels within a normal range in 79% of patients after 6 months. The approval is expected in 2019, followed by a commercial launch planned for 2020.

ADV7103 is also being developed in a second indication for the treatment of Cystinuria, an inherited renal tubulopathy and is expected to begin a pivotal phase III clinical trial in this indication in Europe in 2018.