New anti-infectives company spun-out of the sanofi-aventis
Novexel, a pharmaceutical company focused on the discovery and development of novel anti-bacterials and anti-fungals, has been spun-out of Aventis Pharma, a subsidiary of sanofi-aventis.
Novexel, a pharmaceutical company focused on the discovery and development of novel anti-bacterials and anti-fungals, has been spun-out of Aventis Pharma, a subsidiary of sanofi-aventis.
The Paris-based company inherits an advanced portfolio of anti-infective programs and intellectual property, and has received Euro 40m in financing from an international group of leading life science investors led by Atlas Venture and including Sofinnova, 3i, Abingworth and Novo A/S.
Novexel's assets include five compounds in development. Two of these are in Phase I: NXL103, an oral antibiotic against bacterial respiratory infections, and NXL201, for the treatment of severe fungal infections.
The company's preclinical development pipeline includes NXL102, a novel topical antibacterial expected to enter the clinic during 2005; NXL104, a novel beta-lactamase inhibitor against nosocomial infections, and NXL101, an entirely new chemical class topoisomerase IV inhibitor against Gram+ve bacteria including MRSA.
Novexel has 21 staff and a heavyweight scientific team led by the five founders who between them have over 120 years of anti-infectives discovery and development experience, including the successful development of Ketek, Rulid and Augmentin. Chief scientific officer John Hodgson will direct the programmes and brings key r&d skills gained from within Aventis, HMR and SmithKline Beecham. Iain Buchanan joins Novexel as ceo from Vertex Pharmaceuticals (Europe) where, as Managing Director, he was responsible for global business development. He brings over 25 years of commercial experience in both the pharma and biotech industries.
Iain Buchanan commented: 'Novexel starts life with an advanced and unique portfolio of assets. We will target established global markets where there is an increasing need for novel anti-infectives to combat drug resistant pathogens.'
Francois Thomas, Atlas Venture partner, said: 'We are delighted to have led this transaction. Novexel is a company with a strong combination of novel, advanced compounds and highly-experienced scientists and managers who have a long history of successful anti-infectives development.'