(AOF) – Abivax announced the completion of an oversubscribed financing of approximately €49.2 million, led by TCGX with participation from Venrock Healthcare Capital Partners, Deep Track Capital, Sofinnova Partners, Invus and Truffle Capital, leading and specialized investors in the biotech sector. Proceeds from the transaction will be used primarily to fund the advancement of phase 3 clinical studies of obefazimod in the treatment of ulcerative colitis, and extend the company’s cash flow through the end of the first quarter of 2023.