In This Article:
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Exclusive discussions and finalization of related documentation underway with a leading investor to monetize royalties from TWYMEEG® (Imeglimin) sales in Japan
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Cash runway estimated to be sufficient until the completion of the transaction expected by the end of April, including tranches already drawn or fully available on the equity-linked financing facility with IRIS
LYON, France, March 28, 2024--(BUSINESS WIRE)--Regulatory News:
POXEL SA (Euronext: POXEL - FR0012432516), a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders, announces the publication at the end of April 2024 of its 2023 Annual Results, originally scheduled for April 9, 2024, given the expected completion of a transaction by the end of April.
The Company, which has made significant progress in securing additional financing, is targeting to close, by the end of April, a transaction relating to the monetization of royalties from TWYMEEG® (Imeglimin) sales in Japan.
Poxel expects that its financial resources will be sufficient to maintain its operations until the finalization of this monetization transaction.
The Company will communicate its new financial calendar in April 2024 upon completion of this transaction.
About Poxel SA
Poxel is a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare disorders. For the treatment of NASH, PXL065 (deuterium-stabilized R-pioglitazone) met its primary endpoint in a streamlined Phase 2 trial (DESTINY-1). In rare diseases, development of PXL770, a first-in-class direct adenosine monophosphate-activated protein kinase (AMPK) activator, is focused on the treatment of adrenoleukodystrophy (ALD) and autosomal dominant polycystic kidney disease (ADPKD). TWYMEEG® (Imeglimin), Poxel’s first-in-class product that targets mitochondrial dysfunction, is now marketed for the treatment of type 2 diabetes in Japan by Sumitomo Pharma and Poxel expects to receive royalties and sales-based payments. Poxel has a strategic partnership with Sumitomo Pharma for Imeglimin in Japan, China, and eleven other Asian countries. Listed on Euronext Paris, Poxel is headquartered in Lyon, France, and has subsidiaries in Boston, MA, and Tokyo, Japan.
For more information, please visit: www.poxelpharma.com
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