On 21 November, Neurofix Pharma presented the successful results of phase IIA of the clinical trial of the pioneering drug it is developing against neuropathic pain caused by spinal cord injury to the Salamanca society. The event took place at the Arzobispo Fonseca school, also with the aim of highlighting Salamanca’s potential as a biotechnology hub.
The event was attended by more than a hundred people, including representatives of institutions, companies, investors, researchers and teachers. Also taking part were the Minister of Health of the Regional Government of Castilla y León, Alejandro Vázquez; the Director General of the Institute for Business Competitiveness of Castilla y León, Augusto Cobos; the President of the Provincial Council of Salamanca, Javier Iglesias; the Mayor of Salamanca, Carlos García Carbayo; the Vice-Rector of Health Sciences and Social Affairs of the University of Salamanca, Ana María Martín; the CEO of Neurofix Pharma, Miguel Ángel Ávila; and doctors Antonio Oliviero and Pablo Vicente Escribá.
During the speeches, Ana Martín welcomed the fact that Neurofix Pharma “has successfully completed phase IIA, with results that confirm the excellent safety profile of the drug and its efficacy at the optimal dose”. The director of the ICE, Augusto Cobo, expressed his “gratitude” for the work the company has been carrying out. Javier Iglesias, president of the Diputación de Salamanca, gave an emotional speech that concluded in this way: “Thank you Miguel Ángel for putting your talent at the service of others, now at a global level with this drug. I congratulate you on a success that will be shared by all”.
The Regional Government’s Minister of Health, Alejandro Vázquez, announced that the regional government “will strengthen research in all its facets in order to retain and attract the real driving force for the future, which is none other than talent. Talent that has placed Neurofix Pharma in an advantageous position in the development of this pioneering drug for the treatment of neuropathic pain in patients with spinal cord injury”. For his part, the mayor of Salamanca, Carlos García Carbayo recalled that “things are going very well”. “That is the best news I can give as mayor, and I repeat it wherever I go,” he added.
Miguel Ángel Ávila, CEO of Neurofix Pharma, said “we are two or three years away from having a pharmaceutical product available worldwide” and recalled that the company “focuses on trying to improve the quality of life of patients with spinal cord injury by treating their pain, and also reducing the social cost associated with this problem, care and impairment that it causes”.
NFX88 is the first drug specifically developed for neuropathic pain due to spinal cord injury. The molecule has successfully passed clinical phase IIA as its results confirmed the high safety profile of the drug, the reduction in pain experienced by patients participating in the trial and allowed the identification of the optimal dose.
The good results of this phase have multiplied the company’s valuation to 22 million euros. Backed by strong investors, Neurofix Pharma has just started a new round of financing to face the next stages of the clinical trial. This is a capitalisation of 7 million euros in which important national and international investors have already shown their interest.