AlgoTherapeutix Named Among Top Innovative Companies To Watch in 2020 by Business Worldwide Magazine
LONDON, Nov. 17, 2020 /PRNewswire/ -- Paris based biotech company Algo Therapeutix has made it to Business Worldwide Magazine's list of Top 20 Innovative Companies to Watch in 2020.
The program is a celebration of trailblazing organizations who are changing the game in their respective industries and altering the corporate landscape. From a wide range of sectors, these companies are at the cutting edge of breakthrough technologies, innovation and modernized business structures. Those included in the list have a shared goal of developing revolutionary products and technology that drives scalable business models and disrupts established industries and markets.
Chemotherapy-Induced Peripheral Neuropathy (CIPN) is a little discussed condition that affects 60% of cancer patients receiving chemotherapy. The nerve damage and intense pain it causes is a leading factor in people choosing to cease treatment, so AlgoTherapeutix is on a mission to do something about it.
In an interview with Business Worldwide Magazine, the company's founder and CEO, Stéphane Thiroloix explained that there is currently no FDA-approved therapy for CIPN, leaving many to endure severe pain and reduced quality of life. As well as the debilitating pain, the condition often leads to chemotherapy dose reduction, increasing the chances of cancer related deaths. Instead of the unapproved painkillers that are traditionally used to bring limited relief to the condition, Stéphane and business partner Olivier Bohuon, commenced development of their own breakthrough treatment in 2018. In contrast to many start-ups, the founders are both pharma veterans, providing them with a wealth of experience in developing safe and patient friendly medicines.
Together they are developing a life-changing treatment to relieve patients of the pain experienced by CIPN, known as ATX01. The distinctive concept behind this new treatment is that it uses high concentration amitriptyline gel, targeting the epidermis and dermis – where most damaged nerve fibres lie. Unlike oral treatments, the low systemic absorption of the product avoids common side effects.
In only two years the company filed a solid IP portfolio, designed a tailored formulation, demonstrated its efficacy on pain messaging and innocuous profile. ATX01 is now ready for human testing and set for a commercial launch by 2025. The FDA recently granted AlgoTherapeutix an Orphan Drug Designation to study ATX01 in erythromelalgia, a rare and extremely painful disorder which causes severe burning pain and inflammation of the hands and feet.
Further information on AlgoTherapeutix – this innovative Paris based biotech start up – updated progress on ATX01 can be found at http://algotx.com/
A list of the winners of the 20 Most Innovative Companies to Watch in 2020 Awards can be found at https://www.bwmonline.com/20-most-innovative-companies-to-watch-awards-2020
About Business Worldwide Magazine
Business Worldwide Magazine is the leading source of business and dealmaker intelligence throughout the world. Our quarterly magazine and online news portal enables an established audience of corporate dealmakers to track the latest news, stories and developments affecting the international markets, corporate finance, business strategy and changes in legislation. This readership includes of CEO/CFO - Banks, Corporate Lawyers and Venture Capital/Private Equity Companies to name a few.
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SOURCE Business Worldwide Magazine
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