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Eli Lilly, TVM fund invests in Ixchelsis

Friday, August 9, 2013 01:14 PM

TVM Life Science Ventures VII, a collaboration between TVM and Eli Lilly to provide venture capital to the international pharmaceutical, biopharmaceutical and medical technology industries, has announced the fund’s second investment in Ixchelsis, a clinical-stage biotechnology startup in the U.K. Ixchelsis plans to develop to proof-of-concept IX-01, an investigational compound, originally discovered at Pfizer’s U.K. R&D site, with the potential to treat the male sexual health indication premature ejaculation.

“There is a significant need for new treatment options for premature ejaculation, as there are currently no medicines approved by the FDA to treat this recognized medical condition,” said Francois Giuliano, M.D., an academic and clinical expert in male sexual health. “As clinicians, we require medications with new mechanisms of action to delay ejaculation. Oxytocin antagonists have great potential and are especially deserving of further investigation.”

Ixchelsis will leverage its network in the male sexual health sector and will collaborate with Lilly’s Chorus to potentially bring IX-01 to human proof-of-concept, at which time Lilly may have the option to acquire the molecule.

“Ixchelsis is at the heart of TVM’s strategy to develop an asset which addresses a significant unmet medical need for up to 30% of the global adult male population and which can have a major impact on the quality of life for men and their partners,” said Luc Marengere, Ph.D., managing partner of TVM and board member of Ixchelsis.

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