ATXA Therapeutics Secures €2.5m EU Funding for Novel Pulmonary Arterial Hypertension Therapy
DUBLIN, IRELAND – May 15, 2018 – ATXA Therapeutics Limited, an Irish company developing novel therapeutic drugs for the treatment of Pulmonary Arterial Hypertension (PAH) and for other related cardiovascular conditions, has secured €2.5 million funding under the European Union’s prestigious Horizon 2020 SME Instrument programme. ATXA won this funding from a highly competitive field of 1280 applications, with a total of 64 grants awarded, and was ranked within the top 1% of all applicants.
Pulmonary Arterial Hypertension (PAH) is a devastating disease of the lungs and heart with an urgent unmet need for new improved therapies. While the condition itself is classed as a rare or orphan disease, affecting 15-50 patients per million of the population, it carries an enormous health burden with an annual spend of $6 billion globally on prescribed medicines alone. In addition, PAH is a co-morbidity associated with several other highly prevalent diseases such as pulmonary embolism (PE), while ATXA’s drugs also have platform potential for treatment of several other widespread disease indications including in a range of cardiovascular, pulmonary, renal and prostate diseases and in certain cancers.
ATXA has recently been awarded orphan designation from the European Medicines Agency (EMA) and from the US Food & Drug Administration (FDA) for its lead drug NTP42 for PAH. Securing the Horizon 2020 SME Instrument award will be a key accelerant in bringing ATXA’s NTP42 closer to the market by advancing the drug into clinical development. Commenting on the success of the SME Instrument award, ATXA’s founder and Chief Scientific Officer (CSO) Professor Therese Kinsella stated,"This is a wonderful endorsement of ATXA’s overall mission and validation of its achievements to date. We hope that this strong Europe-wide recognition of ATXA’s overall goal of bringing a new drug to the market for PAH will go a long way to bringing other investors on board as part of its current fund-raise campaign.”
Read more: Enterprise Ireland Press Release
About ATXA Therapeutics Headquartered in Dublin, Ireland, ATXA Therapeutics Limited is a spin-out company from University College Dublin whose primary focus is to advance clinical trials and to secure marketing authorization of novel therapies for the treatment of Pulmonary Arterial Hypertension (PAH), serving a previously unmet medical need by offering improved treatment options to the prescribing physician and new hope for the PAH patient. Founded in May 2015, ATXA Therapeutics Limited is the culmination of over 20 years of extensive research and over €15m of grant funding and a proven track record in understanding of the biology and signalling of the human prostanoid receptors in the cardiovascular disease and oncology setting. For more information, please visit www.atxatherapeutics.com.
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