Enterome Raises €10 million in Series B Fund Raising
01 May, 2014, 09:00 BST
PARIS, May 1, 2014 /PRNewswire/ --
ENTEROME Bioscience SA, a pioneer in the development of innovative disease management solutions based on a deep understanding of the gut microbiome, is pleased to announce that it has raised €10 million in the first tranche of a Series B fund raising. The funding has been led by the Company's existing investors, Seventure (including from its new Health for Life Capital fund, which is dedicated to companies focused on health, nutrition and the microbiome) and Lundbeckfond Ventures, and is supported by Omnes Capital.
The funds raised will be used by Enterome to undertake the R&D and business development activities needed to capitalize on its unique Metagenotyping® process, which is creating new industry standards in the quantitative and functional analysis of the gut microbiome in relation to health and disease. This cutting-edge technology platform will allow the Company to develop new disease management solutions including biomarkers, companion diagnostics and, in time, therapeutics, for inflammatory bowel and metabolic disorders, two important disease areas where the gut microbiome plays a key role.
Pierre Belichard, CEO, said: "We are pleased that our existing investors have taken the decision to make a further financial commitment to Enterome. With these new funds we will be able make further significant progress towards our goal of developing new disease management solutions that will provide important benefits to patients suffering from conditions where the gut microbiome plays a key role."
Isabelle de Cremoux, CEO of Seventure, said: "Enterome is a true pioneer in understanding the linkage between changes in the gut microbiome and disease. This leadership has put it at the forefront of developing the new biomarkers and diagnostics needed to improve the management of inflammatory bowel and metabolic diseases; two conditions that have been clearly shown to be the result of significant changes to the patients' gut microbiome."
"We have been very impressed by the progress that Enterome has made over the last 18 months. We remain very confident that Pierre and his first-class team will be able to leverage both their discovery and clinical expertise in relation to the gut microbiome to generate valuable diagnostic and therapeutic tools that it aims to commercialize in conjunction with leading pharma and diagnostic companies," added Johan Kordel, Senior Partner at Lundbeckfond Ventures.
About Enterome:
Enterome is pioneering the development of innovative disease management solutions based on a deep understanding of the gut microbiome. Understanding and modifying the changes that occur in the gut microbiome during disease and in response to therapeutic interventions represent an entirely new and untapped opportunity to impact medicine.
Initially Enterome is using its expertise and proprietary technologies to develop novel diagnostic products to support patient stratification, personalized therapies and the clinical development of new drugs for the treatment of microbiome-related diseases such as inflammatory bowel diseases and metabolic diseases (diabetes and obesity). Enterome's unique Metagenotyping® process has allowed it to develop biomarkers for treatment response prediction, disease activity monitoring and as potential companion diagnostics.
The company was established in 2012 in Paris, France, and has raised a total of €17.5m from leading venture capital investors (Seventure, Omnes Capital & Lundbeckfond Ventures) and two strategic investors (Danone & Shire).
About Seventure Partners:
Being one of the leading venture capital firms in Europe, Seventure manages more than €500m and invests since 1997 in innovative businesses with high growth potential in Digital Technologies in France and Germany, and in Life Sciences all over Europe.
In Life Sciences, our four preferred sectors are biotechnology and pharmaceuticals, connected health and medtech, industrial biotechnology and cleantech, and the microbiome, lifestyle healthcare, personalised medicine and nutrition and food. We also consider investments in diagnostics, biomarkers, drug delivery systems, and services.
A typical investment ranges from €500k to €10m per round, up to €20m per company, from early to later stage.
Seventure is a subsidiary of Natixis, the corporate investment management and financial services arm of Groupe BPCE, the second-largest French bank.
For more information, visit: http://www.seventure.fr
About Health for Life Capital
Launched in December 2013, the 'Health for Life Capital' Fund is the first venture capital fund focused on healthcare, microbiome and nutrition space. Europe is the primary focus of the fund, but it will invest internationally as strategic opportunities arise. The €120m fund has attracted strategic investments from prestigious organisations including Danone, Tereos, Tornier as well as financial institutions and is advised by Seventure Partners' life sciences team.
About Lundbeckfond Ventures:
Lundbeckfond Ventures is a part of the asset management subsidiary of The Lundbeck Foundation which in addition to substantial financial assets has controlling ownerships in H.Lundbeck A/S, ALK-Abelló A/S and Falck A/S. Lundbeckfond Ventures has an evergreen structure and invests around $60 million annually in life science companies. The Lundbeckfond Ventures team is located in Copenhagen, Denmark, and is active in both Europe and USA.
For more information, please refer to: http://www.lundbeckfondventures.com
About Omnes Capital (formerly Crédit Agricole Private Equity):
Omnes Capital is a major player in private equity, with a commitment to financing SMEs. With €1.8 billion in assets under management, Omnes capital provides companies with the capital needed to finance their growth and with key expertise in a number of areas: Mid and Small Cap Buyout & Growth Capital, Venture Capital in technology and life sciences, Renewable Energy, Mezzanine, Secondary Funds of Funds, Co-Investment. Omnes Capital, formerly Crédit Agricole Private Equity, was a subsidiary of Crédit Agricole until March 2012 when the company gained its independence. Omnes Capital is a signatory to the United Nations Principles for Responsible Investment (PRI).
Further information: http://www.omnescapital.com
SOURCE Enterome Bioscience