As MS Space Awaits Ocrevus, MedDay Sees 'Synergistic' Positioning Opportunity
With Roche's Ocrevus expected to be given the green light at any moment for the underserved progressive multiple sclerosis market, a tiny French biotech with a "synergistic" product for the same indication also believes it could soon have a commercial success on its hands.
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Roche is taking no chances with its newly approved multiple sclerosis drug Ocrevus and has set a cost that ensures price is no barrier to treatment.
MedDay of France, which is preparing a European filing for its progressive multiple sclerosis product MD1003, has raised €34m in a Series B financing round. Edmond de Rothschild Investment Partners (EDRIP) led the new investment round alongside existing investors Sofinnova Partners, the company's largest shareholder, and InnoBio (Bpifrance). Large Venture (Bpifrance) also participated.
The last couple of decades have seen major progress in the treatment of relapsing-remitting multiple sclerosis (RRMS), with a number of drug approvals. In contrast, clinical trials of drug candidates in progressive multiple sclerosis have failed to deliver the same successes. However, a small French biotech company believes it can change all this with its high-dose biotin product.