Minoryx Therapeutics, a Phase III biotechnology company that develops treatments for minority or rare diseases of the Central Nervous System (CNS), and a CataloniaBio & HealthTech  member, has announced that it has secured 51 million euros of investment in a new capital increase (Series C) and complementary bank debts.

Minoryx will use the funds to finance the marketing authorization application (MAA) and prepare for the launch of leriglitazone for adult male patients with adrenomyeloneuropathy (AMN), a minority or rare inherited neurodegenerative disease, the most common phenotype of adrenoleukodystrophy linked to the X chromosome (X-ALD), in the European Union. The company will also fund the necessary activities to be able to proceed with the approval of leriglitazone in the United States for the same indication. Finally, funding will also be used to monitor the development of leriglitazone in paediatric patients with cerebral ALD (cALD), as well as the extension of treatment for women affected by X-ALD.

The round is co-led by Columbus Venture Partners and Caixa Capital Risc. Dr Damià Tormo, representing Columbus Venture Partners, joins the Minoryx Board of Directors. The CDTI, through its Innvierte program, has also joined the Series C round together with existing Series B investors, led by Fund+ and its Belgian public co-investors, and Series A investors, led by Ysios Capital.

"Minoryx Series C Investment Round will allow us to move forward at full speed towards the approval and commercialization of leriglitazone for X-ALD, a very serious rare disease for which there is a great need as it is not medically covered" says Dr Marc Martinell, CEO of Minoryx. "It will also allow Minoryx to advance the studies needed for drug approval in the United States and investigate its benefits in other populations of patients with X-ALD," adds Martinell.

“We are impressed with the clinical data that show the potential of leriglitazone for the treatment of both AMN and cALD. We want to support the development of what could be the first approved treatment for the most prevalent form of X-ALD,” says Dr Damià Tormo, managing partner of Columbus Venture Partners.

Leriglitazone has received FDA and EMA orphan drug status and the FDA's designation of rare and fast-acting paediatric disease for the treatment of X-ALD.

Photo: Marc Martinell, CEO of Minoryx.