Abivax Holds Out for Better Terms, Seeks Funding After Key Trial Data in June

Abivax plans to raise money after releasing key trial data in June, signaling it is in no rush to sell. The French biotech firm's lead asset obefazimod is being tested for ulcerative colitis and Crohn's disease, with positive data expected to secure better terms for partnerships. Abivax has a cash pile of $613 million and plans to raise several million euros to take it to profitability. Former Takeda VP Michael Nesrallah will join as chief commercial officer.