Abivax bags €36m fund for COVID-19 programme

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Social infrastructure, Waste and water

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French biotechnology company Abivax has received a €36 million non-dilutive funding from Bpifrance for its ABX464 Covid-19 programme.

The funding consists of a €20.1 million grant and €15.9 million loan refundable upon success of the company’s miR-AGE Phase II/III clinical trial with ABX464 in high-risk patients with COVID-19, which Abivax expects to start soon.

Abivax will also use the cash injection for manufacturing scale-up and additional development costs related to the potential filing of ABX464 Marketing Authorisation Applications. ABX464 is an orally dosed immunesuppressive antiviral upregulating a microRNA, miR-124, that has shown antiviral, anti-inflammatory and tissue repair properties.

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