Pharnext: Best Life-Sciences IPO France 2016
Pushing the boundaries of medical research, French biopharmaceutical company Pharnext specialises in the development of drugs that help treat neurodegenerative diseases. The firm was formed by a group of renowned scientists led by Professor Daniel Cohen, a widely recognised pioneer in modern genomics.
Pharnext has received the green light for a Phase 3 international trial of a product for the treatment of Charcot-Marie-Tooth Type 1A, a designated orphan disease in the United States and Europe for which drugs may gain final approval via a much abbreviated procedure. The company has already obtained positive results for the Phase 2 trial of its PXT864 drug for the treatment of Alzheimer’s Disease.
Pharnext is a global leader in the development of PLEODRUG© which simultaneously target multiple disease pathways. The company has identified a number of synergic combinations of already existing drugs, effectively repurposing their use. This offers key advantages to patients and investors alike: PLEODRUG© are deemed effective, safe, and – crucially – enjoy protection under international intellectual property law.
In June 2016, Pharnext successfully debuted on the Paris Euronext Alternext stock exchange raising in excess of €30 million from mostly Tier-1 institutional investors. The initial public offering was significantly oversubscribed. The proceeds of the IPO will be invested in Pharnext’s already formidable research effort and provide liquidity for future undertakings.
The CFI.co judging panel congratulates the company on its flawlessly executed IPO and wishes to recognise this accomplishment by offering Pharnext the 2016 Best Life-Sciences IPO France Award.
