Comment on transaction
“The proceeds from the Rights Issue will enable us to implement the next important steps in the development of Cyxone’s new treatment for rheumatoid arthritis (RA). We have a solid and well-structured plan for delivering value creation to our shareholders and to patients world-wide, and our experienced team are now looking forward to take the Company to the next level,” comments Tara Heitner, CEO, Cyxone.
Cyxone is a Swedish clinical stage medicine platform company focused on developing and advancing novel solutions for patients suffering from severe autoimmune diseases such as rheumatoid arthritis (RA) and multiple sclerosis (MS). Cyxone is driven by a team of leading pharmaceutical and biotechnology executives and academics with deep immunotherapy expertise.
Phase 2b study of Rabeximod for RA
Rabeximod, a novel molecular entity with unique mechanism of action is expected to close a significant, unmet clinical gap in the management of patients with RA. Despite the multitude and diversity of drug classes targeting RA, high percentage of the patients treated display partial response and relatively low numbers of patients achieve sustained remission. In addition to inefficacy, intolerance and growing evidence of side effects associated with the anti-TNFα class, such as a serious infections, malignancy, and neurologic deficits, has resulted in increasing demand for therapies with improved safety profiles.
Preclinical as well as initial historical clinical data support the argument that Rabeximod may have a markedly improved benefit-risk profile over existing therapies and be an innovative drug which can be used in high-risk patients and may have an improved safety profile.
In the recently initiated start-up activities of a Phase 2b, randomized, double blind, 24-week long study, being conducted together with an internationally renowned CRO, Rabeximod will be explored for its efficacy, safety and tolerability in a segment of RA patient population proven to be non-responders to the standard of care treatment with Methotrexate.