Date: 2014-02-12
Type of information: Series B financing round
Company: Rhenovia (France)
Investors: historical shareholders
Amount: € 540,000
Funding type: series B financing round
Planned used: The funds provide a boost to Rhenovia\'s capital and the means for it to add to its team of staff, particularly in the areas of marketing and therapeutic applications. The funding raised in 2014 should enable a rapid increase in Rhenovia\'s rate of business development. The company has particular plans to supplement its service offering, structuring it to suit each of its target markets with the intention of capturing a significant share of the international market for biosimulation of the central nervous system.
Others: * On February 12, 2014, Rhenovia Pharma, a biotechnology company specialized in the application of biosimulation to the research and development of new medicinal products, has announced that it has raised € 540,000 ($ 738,000) from its historical shareholders in a second round of funding. Founded in 2007, Rhenovia is the world leader in biosimulation of the central nervous system. The company uses its technology to create computer simulators that predict the effect of molecules both on healthy patients and others living with conditions such as Alzheimer\'s disease, Parkinson\'s disease, epilepsy and depression. These simulators considerably reduce the need for animal testing. They have numerous applications in the pharmaceutical and agrifood industries and within civilian and military security (neurotoxicity). In the pharmaceutical industry, Rhenovia\'s technology can be used to identify new drug candidates and to shorten lead times for development, reducing the costs of R&D. The technology also helps in anticipating risk (of side effects or interactions with other molecules, for example). As a result, it can reduce the rate of clinical stage failure.
In 2009, Rhenovia obtained initial funding from a pool of investors drawn from the Alsace Business Angels and the SODIV fund providing support to SMEs in the Alsace region of France. The second-round funding of EUR 540,000 announced today came from historical investors.
Rhenovia plans to complete a third round of funding of € 2 million in 2014. This will be open to new investors, particularly family offices. To date the company has largely self-funded its growth. It now intends to step up development across the three key markets that it already services: pharmaceutical, agrifood and neurotoxicity.
Therapeutic area: CNS diseases
