French Abivax SA has raised €130m capital led by TCGX to accelerate Phase III testing of its ulcerative colitis candidate obefazimod extend its cashflow. Existing investors Invus, Deep Track Capital, Sofinnova Partners, Venrock Healthcare Capital Partners, as well as from new investors Great Point Partners, LLC, Deerfield Management Company, Commodore Capital, Samsara BioCapital, Boxer Capital and others participated in the overtsubscribed reserved capital increase through the issuance of 20,000,000 newly-issued ordinary shares with a nominal value of €0.01 per share, representing 89.6% of its current share capital, at a subscription price of €6.50 per share.

Prof. Hartmut J. Ehrlich, M.D., CEO of Abivax said: “Based on our consistent Phase IIa and Phase IIb data, we expect that the Phase III studies will support the short- and long-term efficacy and safety profile of obefazimod.”