Date: 2013-04-09
Type of information: Fundraising
Company: MedDay (France)
Investors: InnoBio (France) Sofinnova Partners (France)
Amount: € 8 miillion
Funding type:
Planned used: This investment will finance the development of three compounds all the way through to 2016, including the phase IIb/III studies for a progressive multiple sclerosis treatment stemming from the Assistance Publique des Hôpitaux de Paris ( MD 1003). Two other proprietary compounds will also benefit from this investment: MD 1103 targeting a subgroup of resistant psychoses and MD 1105 targeting Alzheimer’s disease. The first two compounds have already proven their efficacy and tolerability in small patient groups.
Others: InnoBio, a biotech fund managed by CDC Entreprises, which is part of the soon to be created BPIFrance, and Sofinnova Partners, a leading venture capital firm in Europe specialised in life sciences, have announced a joint investment in MedDay for a total amount of 8 million euros. Created in 2011 by Dr Frédéric Sedel and Dr Guillaume Brion, MedDay is specialised in the treatment of neuro-metabolic diseases. MedDay’s technology platform relies on the work of Dr Frédéric Sedel, a neuroscientist at La Pitié Salpêtrière Hospital (Paris), who has been carrying out pioneering research to identify rare hereditary metabolic diseases in adults for more than a decade. This research has led to the identification of new treatments and diagnostic tools for diseases in a field where few treatments, if any, are available. These discoveries are expected to be applicable more broadly in the area of neuropsychiatric diseases. The company is currently incubated at l’Institut du Cerveau et de la Moelle épinière in Paris (ICM).
Therapeutic area: Neurodegenerative diseases - Metabolic diseases
