Montreal-based TVM Life Science Ventures VII, managed by international venture capital company TVM Capital Life Science, invested in Ixchelsis Ltd, a startup based in the UK. While no financial details about the deal were disclosed, the latter intends to develop a compound to treat premature ejaculation. The proof-of-concept that Ixchelsis aims to develop is known as IX-01, which was originally discovered in the UK research and development site of Pfizer's.
Ixchelsis CEO Gary Muirhead said he is delighted at the collaboration opportunity with the venture capital firm. "We also appreciate Pfizer's significant and sustained efforts to provide Ixchelsis with the opportunity to potentially bring this therapy to patients with this surprisingly common and distressing condition," he added. For their part, TVM said in a statement that it is proud to help Ixchelsis secure the rights to the compound. Managing Partner of TVM and board member of Ixchelsis Ltd Dr. Luc Marengere said, "Ixchelsis is at the heart of TVM's strategy to develop an asset which addresses a significant unmet medical need for up to 30 percent of the global adult male population and which can have a major impact on the quality of life for men and their partners."
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