4Moving Biotech, announces that it has closed a €2M investment agreement with 4P- Pharma, SATT Lutech, French Tech Seed and business angels. 4Moving Biotech is the spin-off of 4P-Pharma focusing on the development of 4P004, a first-in-class Disease Modifying OsteoArthritis Drug (DMOAD). 4Moving Biotech intends to use the proceeds to initiate a phase I clinical trial on people suffering from osteoarthritis.
“The incorporation and development of 4Moving Biotech is the proof of the relevancy of 4P-Pharma business model: bringing to patient the best innovations from academic scientists, in a relatively short time and with limited risks. […]”, says Revital Rattenbach, Chairwoman of 4Moving Biotech and 4P-Pharma.
“This fundraising gives us an extraordinary opportunity to conduct our first clinical trial in women and men suffering from OA with 4P004. […]”, adds Francis Berenbaum, CEO/CMO of 4Moving Biotech, Head of rheumatology department at Saint-Antoine Hospital (AP-HP), and Professor at Sorbonne University (Paris, France).