Suresnes, Ile-de-France, France - AlgoTx, a biotechnology research company focused on developing novel solutions for complex pain, announced the successful closing of its Series B financing round with a total raise of $21,157,000. The funding was led by Bpifrance and included Omnes Capital, UI Investissement, and Turenne Groupe as investors.

Founded by Stéphane Thiroloix, AlgoTx is dedicated to identifying and developing innovative therapies for the treatment of chronic pain syndromes with high unmet medical needs. Its lead program ATX01 targets highly prevalent Chemotherapy-Induced Peripheral Neuropathy (CIPN) and the orphan disease erythromelalgia. This new capital will be used to advance clinical development plans for ATX01 and to expand its pipeline of drug candidates targeting chronic pain conditions.

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“We are thrilled to have closed this Series B financing round with such prestigious investors joining our mission," said Stéphane Thiroloix, Founder and CEO at AlgoTx. “This new capital allows us to continue our work towards advancing treatment options for individuals suffering from CIPN and other types of chronic pain."