FINOX Biotech (Finox AG) announced today that at a meeting of shareholders a capital raise of 12MCHF was agreed upon.
The capital was jointly raised through Finox AG majority shareholder, Dr. h.c. Willy Michel and through existing shareholders and employees.
Dr. h.c. Willy Michel, President of the Board of FINOX Biotech, commented; “Finox Biotech are now in a full commercial phase in Europe and are growing rapidly. The achievement of the company in launching BEMFOLA® in more than 20 countries in 12 months is unprecedented and we, the Board, are cognisant of the investment that this requires. This capital raise further proves our commitment to supporting BEMFOLA® through it’s development and launch”.
In addition the company announced the appointment of three senior executives to help strengthen its Leadership Team:
Professor Julian Jenkins joins Finox Biotech in the position of Executive Vice-President of Research & Development and Medical Affairs. Prof. Jenkins has more than 30 years experience in the IVF world and has a peerless record as an IVF clinician and author of 5 books and more than 30 clinical papers in the field. He was a consultant IVF Specialist at Bristol University Hospital in the UK before joining the commercial world, firstly at Merck Serono in Geneva, Switzerland and latterly at Ferring, where he was a member of the executive management team in the position of Global Head of Medical Affairs.
Marco Barani joins Finox Biotech as the Executive Vice-President, Head of Quality Assurance. Mr Barani brings more than 20 years of experience in the pharmaceutical industry – most recently at Stragen Pharmaceuticals – where he was Head of Quality Assurance and previously as QA for Alexion Pharma and for 15 years at Merck Serono in Switzerland.
Fabienne Pitravalle-Elson has been appointed as Executive Vice-President, Head of Regulatory Affairs. Fabienne has more than 20 years experience in regulatory affairs, most recently managing the European regulatory strategy at Shire in Switzerland and previous to that at Merck Serono for more than 10 years, where she managed products across various portfolios with a focus on the fertility and reproductive health areas.
Gavin Jelic-Masterton, Chief Executive of FINOX Biotech commented, “the appointment to our Leadership team of these three senior professionals, with a combined experience of almost 70 years in the fertility market, underlines our commitment and belief to hiring the most experienced executives to ensure we have ‘the best’ people in the development, registration and launch of our Fertility portfolio. We are very excited to have Julian, Marco and Fabienne join the team and are now fully ready to move to the next stage of our commercialisation plans”.
BEMFOLA® was produced using recombinant DNA technology. Both BEMFOLA® and the reference product GONAL-f® are formulations of the naturally occurring hormone FSH, which plays a key role in human reproduction. BEMFOLA® is the result of a targeted drug development process aimed to replicate as closely as possible the reference product. The brief to the development engineers when designing the BEMFOLA® injector device was to produce a Pen that absolutely minimised the number of steps a patient needs to take when preparing the injection and to ensure that the patient and physician had maximum control and the least chance of a patient error. The result, the BEMFOLA® Pen, is therefore a simple, single-use, once-a-day disposable device, which allows the patient to self-inject.
About BEMFOLA® in other clinical development programs
FINOX Biotech has agreed with the US-FDA via a Special Protocol Assessment to conduct a pivotal phase III study (FIN3002) for registration of BEMFOLA® (AFOLIA) in the USA. A US IND was filed and the FIN3002 study is in progress.
About FINOX Biotech
FINOX Biotech (FINOX AG) is a biopharmaceutical company with its corporate headquarters in Burgdorf, Switzerland. FINOX Biotech was founded in 2007 with a vision to become a leading company in the field of fertility therapies, by combining high quality Swiss medicines with innovative and award winning delivery devices.