Poxel, winner of the 2023 edition of the I-nov contest

Regulatory News:

POXEL SA (Euronext: POXEL – FR0012432516), a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders, announces today to be the winner of the 2023 edition of the I-nov contest for its program in adrenoleukodystrophy (ALD), a rare neurometabolic disease, for which there is currently no treatment. This distinction is a recognition of the potential of the Company's drug candidates in development for this indication, PXL770 and PXL065.

The prize for this contest, financed by the French State via the France 2030 plan, operated by Bpifrance in collaboration with ADEME and awarded during a ceremony organized on July 4, 2023 in Paris, includes a grant which will contribute in part¹ in the financing of the two phase IIa proof-of-concept clinical studies for PXL770 and PXL065. These studies are ready to be launched in adult male patients with adrenomyeloneuropathy (AMN), the most common form of ALD, subject to additional funding, which the Company is currently working on.

Thomas Kuhn, Chief Executive Officer of Poxel, states: “This award recognizes all the efforts that our teams deploy on a daily basis to develop innovative treatments against rare metabolic diseases such as adrenoleukodystrophy. We are particularly proud of this recognition of our programs and, with the support of the France Relance program, we look forward to being able to initiate, once we have secured additional funding, these two Phase IIa clinical studies for this high stake’s indication”.

The I-nov contest

The "i-Nov Innovation Competition", funded by the France 2030 plan, aims to support innovative projects carried out by start-ups and SMEs, and to promote the accelerated emergence of leading companies in their field, which can claim global reach.

It selects, within the framework of a procedure encouraging competition, innovative projects with particularly high potential for the French economy. It includes co-financing for research, development and innovative projects, with a total costs ranging between €1 million and €5 million, and which contributes to accelerating the development and marketing of innovative solutions and technologies.

This competition is organized by the General Secretariat for Investment, the Ministry of Economy, Finance and Industrial and Digital Sovereignty, the Ministry of Ecological Transition and Territorial Cohesion, the Ministry of Higher Education and Research, the Ministry of Energy Transition, the Ministry of Health and Prevention, and the Ministry of Culture.