Date: 2016-04-08
Type of information: Series B financing round
Company: MedDay (France)
Investors: Edmond de Rothschild Investment Partners (EdRIP) (France) InnoBio (France) Large Venture - Bpifrance (France) Sofinnova Partners (France)
Amount: €34 million ($38.5 million)
Funding type: series B financing round
Planned used: MedDay will use these funds to conduct a confirmatory phase-3 study in United States “SPI2”, following the successful phase-3 MS-SPI study in 2015 in progressive multiple sclerosis, with its wholly-owned lead candidate, MD1003. The funds will also accelerate pre-launch activities of MD1003 in Europe where the drug is currently being supplied by MedDay on a named patient basis, the development of other pipeline candidates as well as the advancement of a research platform aimed at identifying new metabolic targets in neurological diseases.
Others: * On April 8, 2016, MedDay, a biotechnology company focused on the treatment of nervous system disorders, today announced that it has raised €34 million ($38.5 million) of new capital in a Series B financing round. Edmond de Rothschild Investment Partners (EDRIP) led the new investment round alongside existing investors Sofinnova Partners and InnoBio (Bpifrance). Large Venture (Bpifrance) also participated in the operation. In association with the financing, Raphaël Wisniewski, Partner at EDRIP, has joined Rafaèle Tordjman and Chahra Louafi on MedDay’s Board of Directors.
Therapeutic area: Autoimmune diseases - Neurodegenerative diseases - Neurological diseases - Rare diseases
