TxCell gets free loan from Bpifrance to develop CAR-Treg program

TxCell got an interest-free loan from Bpifrance, a French government agency, for the preclinical development of its most advanced CAR-Treg program.

TxCell said on Tuesday that the €1.2 million funding represents circa 25% (50% of eligible costs) of a broad program covering the preclinical and non-clinical pharmaceutical development of TxCell’s HLA-A2 CAR-Treg cellular therapy product for the prevention of chronic rejection after solid organ transplantation. Costs related to the preclinical phase of the program are approximately €5 million, including the cost of transferring the technology to a Contract Manufacturing Organization (CMO), TxCell said.

As TxCell has explained, the Bpifrance loan is an interest-free innovation loan entitled ‘Prêt à Taux Zéro pour l’Innovation’ (PTZI). This financing instrument serves to support companies to develop innovative products with real commercial potential.

Raphaël Flipo, CFO of TxCell said that the loan came at a time when TxCell is entering a decisive year. He said that it provides the company with additional means to advance its lead CAR-Treg program targeting HLA-A2 through preclinical development, and set the stage for the first-in-man study. “An alternative therapeutic option to prevent chronic rejection in transplanted patients remains an area of significant unmet need,” he said.