Fundraisings and IPOs

Date: 2017-03-20

Type of information: Fundraising

Company: Advicenne (France)

Investors: IRDI SORIDEC Gestion (France) Cemag Invest (France) MI Care (Luxembourg) InnoBio Bpifrance (France) IXO Private Equity (France) private individuals.

Amount: €16 million

Funding type: financing round

Planned used: Advicenne plans to use these funds to advance its late-stage pipeline in nephrology and neurology, including:

  •  The completion of the Phase III development of ADV7103, which is targeting a renal tubulopathy, an orphan indication. ADV7103 is currently in a pivotal phase III trial in Europe. Advicenne expects to announce the results of this study during summer 2017;
  • The development of ADV7103 in a second indication targeting another renal disease in Europe;
  • The registration of ADV6209, a paediatric anaesthesiology product outlicensed to Primex Pharmaceuticals in 2016.

Others: * On March 20, 2017, Advicenne, a late-stage biopharmaceutical company focused on the development of paediatric friendly therapeutics for the treatment of orphan renal and neurological diseases, announced that it has closed a €16 million financing round. The fundraising was led by IRDI SORIDEC Gestion, Cemag Invest and MI Care alongside existing investors InnoBio (Bpifrance) and IXO Private Equity together with private individuals. Advicenne was established in 2007 in Nimes (France). Since its inception, the company has raised close to €30 million in equity from leading venture capital investors Innobio (Bpifrance), IXO Private Equity, IRDI SORIDEC Gestion, Cemag Invest and MI Care.

Therapeutic area: Kidney diseases - Renal diseases - Neurological diseases

Is general: Yes