Neurofix Pharma continues to grow, and it also does so with the closure of a round of 750,000 euros. The objective: to develop the last two clinical milestones before make marketable its pioneering drug to treat neuropathic pain from spinal cord injury, the NFX88. The biotech once again trusts Fellow Fundersin 2021 they already carried out a first capital raising on the platform, in which they obtained 900,000 euros.
This new round will allow Neurofix Pharma to undertake phase IIB/III would be prolonged for 23 months and it is estimated that it will start during the last four months of 2023. The study will be carried out on patients with spinal cord injury with neuropathic pain and who meet the inclusion criteria. In addition, the company has added five new technical profiles to its workforce to strengthen this process and strengthen its commitment to job creation.
The funds obtained in the round could be complemented with the financing line of the EIC Accelerator initiative, which supports disruptive innovation projects in the European Union. Neurofix could raise €7.3 million to make NFX88 a marketable product.
Improve the quality of life of patients
Neurofix Pharma is a biotechnology company that researches and develops drugs and therapies to treat diseases that affect the nervous system, having as a priority to improve the quality of life of patients. In the last six years they have focused on the development of the drug NFX88 focused on alleviating neuropathic pain caused by injuries or diseases in the spinal cord.
The milestones reached during the development of the NFX88 have been recognized by important institutions such as CDTI (through the Horizon 2020 program), ENISA, ICO, IBER-AVAL and ICE (Institute for Business Competitiveness, Junta de Castilla y León), who have trusted the project and have granted financing to the company.
Miguel Ángel Ávila, CEO of Neurofix Pharma, ensures that the start of the protocol of the last clinical phase “It is of vital importance for the company”. “It will provide security to the clinical plan and, in turn, to our investors”, it states. Ávila remembers that “It is the beginning of the end of this exceptional path that can lead us to have a marketable product in about two years”. “This milestone would be of extraordinary importance for Spain, since we would be able to have a pioneering product in the world that tries to improve the living conditions of people with spinal cord injury by reducing their pain”adds the CEO of Neurofix Pharma.
