Alto Invest joins GamaMabs investors with a €0.5m equity financing and Bpifrance awards a €0.6m reimbursable aid for the development of 3C23K program in ovarian cancer.
Toulouse, France – March 3rd, 2013 – The biotechnology company GamaMabs Pharma announces the entry of two financings from Alto Invest and Bpifrance, Alto Invest in its capital through a €0.5m fund raising. Alto Invest concludes the €3.1m seed round raised in the summer of 2013 by the investors InnoBio, IRDINov and iXO Private Equity in order to develop new cancer therapies.
GamaMabs completes this financing with the award by Bpifrance of a €0.6m reimbursable aid which will finance preclinical milestones for its lead program 3C23K. 3C23K is a first-in-class monoclonal antibody which targets Anti-Mullerian Human Receptor II (AMHR2), an unaddressed specific target in ovarian cancer.
Stéphane Degove, GamaMabs Pharma CEO declares « We are glad to have been able to convince Alto Invest to complete our financing round. The Bpifrance support also confirms the scientific rationale of 3C23K project. With this total €1.1m additional financing we are completing our financing resources for the phase I preparation of 3C23K antibody, planned in 2015”.
Emilie Da Silva, Participations Director at Alto Invest comments: « Alto Invest is pleased to enter the capital of GamaMabs, and to support the development of this ambitious company led by an experienced and complementary team». Laurent de Calbiac, Regional Director Bpifrance Midi-Pyrénées, adds «We are delighted to renew our support to GamaMabs Pharma who develops an innovating therapeutic approach for the treatment of a pathology with a high medical need. Our entry in its capital, less than one year ago, coupled today with a financing aid for innovation, illustrates the consistency of Bpifrance actions and the funding continuum proposed to French companies ».
About GamaMabs Pharma
GamaMabs Pharma is a French Biotechnology company developing innovative monoclonal antibodies in cancer. GamaMabs’ lead project is the monoclonal antibody (mAb) 3C23K, currently in advanced pre-clinical stage, which targets Anti-Mullerian Human Receptor II (AMHR2) in ovarian cancer. Ovarian cancer is responsible for over 50 000 deaths every year in Europe and the United States. The company values high-potential technologies in oncology developed initially at LFB Biotechnologies including EMABling® which increases mAbs’ activity through the activation of immune system cells.
Stéphane Degove, CEO, +33 1 70 96 00 67 email@example.com
Jean-François Prost, VP R&D and strategy, +33 1 70 96 00 68 firstname.lastname@example.org
About Alto Invest
Alto Invest is an independent asset management company dedicated to investments in SMEs. Alto Invest manages over EUR 330 million in retail and institutional funds (FCP, FCPI, FIP and FCPR), invested in more than 140 European innovation-rich companies representing a total turnover of EUR 6 billion and 40,000 employees. Alto Invest is fully approved by the French financial authorities (Autorité des Marchés Financiers) and is an active member of the French Asset Management Association (Association Française de la Gestion Financière).
Created by the December 31st together the financing activities of OSEO and those of equity investments led by FSI, FSI Régions and CDC Entreprises. Its ambition is to help businesses, ranging from start-ups to medium-sized companies and large companies with a strategic dimension for French economy, to innovate, invest, grow, export and pursue external growth. Bpifrance provides a continuum of financing, from short-term credits to guarantees and equity capital (from seed rounds to Initial Public Offerings). With 42 regional offices, it represents a single point of contact for entrepreneurs in each region for all their financing and investment needs.
www.bpifrance.fr – Follow us on Twitter: @ bpifrance
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