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Fundraisings and IPOs

Date: 2011-01-10

Type of information: Fundraising

Company: Polyplus-transfection (France)

Investors: AIRFI (Alsace Inter Regio Fonds d’Investissement) (France)Sudinnova (France)CIC Vizille Capital Innovation (France)CIC Finance (France)

Amount: € 2,5 million

Funding type: financing round

Planned used:

Polyplus-transfection plans to use the funding to upscale its research & development resources, specifically in the area of new compounds dedicated to siRNA delivery, which recently yielded significant and promising preclinical results in lung and prostate cancer models. These new research programs are additional to those in which Polyplus-transfection is already actively engaged in the area of RNA interference through its numerous partnerships with other biotechnology companies and university laboratories. In its joint programs with third parties, Polyplus-transfection acts as a specialist in in-vivo intracellular nucleic acid transfer, a critical step in any project to develop a therapy based on RNA interference. The additional funding will enable Polyplus-transfection to significantly expand its science team. It is planning to recruit an additional 10 researchers and laboratory technicians in the short term, which will increase the total to 25, out of a total workforce of 40.

Others:

Polyplus-transfection has raised € 2.5 million. This new round brings in new shareholders in Polyplus-transfection, AIRFI (Alsace Inter Regio Fonds d’Investissement) and Sudinnova, which have invested €1 million and €0.5 million, respectively. Two of the company’s existing shareholders, CIC Vizille Capital Innovation and CIC Finance, also participated in this round. Following the completion of this funding round, AIRFI and Sudinnova join the ranks of Polyplus-infection’s shareholders, alongside the company’s historic investors – CIC Vizille Capital Innovation, CIC Finance and Promelys Participations.

Therapeutic area: Technology - Services

Is general: Yes