- Business
- Poxel S.A. (Euronext Paris: POXEL), a clinical-stage biopharmaceutical company, develops innovative treatments targeting cellular energy metabolism for chronic serious diseases with metabolic pathophysiology, including metabolic dysfunction-associated steatohepatitis (MASH, formerly NASH), type 2 diabetes, and rare metabolic disorders such as adrenoleukodystrophy (ALD) and autosomal dominant polycystic kidney disease (ADPKD); its lead product TWYMEEG (Imeglimin), a first-in-class oral agent addressing mitochondrial dysfunction, is approved and marketed for type 2 diabetes in Japan by partner Sumitomo Pharma Co., Ltd., under a strategic licensing agreement covering Japan, China, South Korea, Taiwan, and nine other Southeast Asian countries, entitling Poxel to royalties and sales-based milestones; PXL770, a first-in-class direct adenosine monophosphate-activated protein kinase (AMPK) activator, advances in Phase 2a for rare diseases including ALD and ADPKD; PXL065 (deuterium-stabilized R-pioglitazone), from the deuterium-modified thiazolidinedione (dTZD) platform, met its primary endpoint in the Phase 2 DESTINY-1 trial for MASH and targets non-genomic pathways including mitochondrial pyruvate carrier inhibition. Founded in 2009 as a spin-off from Merck Serono's metabolic business and headquartered at Immeuble Le Sunway, 259-261 Avenue Jean Jaurès, Lyon, France, Poxel maintains subsidiaries in Boston, Massachusetts, and Tokyo, Japan, with a lean team supporting global operations focused on North America, Europe, and Asia. In recent developments, Poxel entered judicial recovery proceedings in August 2025 following a shareholder vote rejecting key financial delegations, prompting active creditor restructuring negotiations and a draft recovery plan finalized with support from long-standing partner IPF Partners, aimed at cost rationalization, new financing up to €11.25 million from IPF Partners and IRIS, liability settlements, and business continuation including Imeglimin commercialization in Japan, PXL770 advancement in ADPKD, and PXL065 pursuit in hypertrophic cardiomyopathy (HCM); the plan awaits approval from the Lyon Commercial Court and shareholders at the December 11, 2025 Annual General Meeting, which includes votes on capital increases with preferential rights (guaranteed by IPF via debt offset), reserved increases targeting IPF at 29.9% ownership, and warrant issuances, amid a constrained cash runway and prior unsuccessful advanced talks for PXL065 partnering.