EVRY, France--(BUSINESS WIRE)--InnaVirVax, a biopharmaceutical company specialized in research and development of therapeutic solutions for infectious and major chronic diseases, has today announced completion of its third funding round which has raised €3.6 million ($4 Million) from its historical investors.
The FCPR CapDecisif 2, G1J Ile-de-France, Pradeyrol Development, Fa Dièse and FRCI (Fonds Régional de Co-Investissement d’Ile-de-France) funds have decided to reinforce their support for, and confidence in, the company.
With this additional capital, and the support of Bpifrance (the French innovation agency) for the PROTHEVIH collaborative project being led by InnaVirVax, the company aims to accelerate the development of VAC-3S, which is currently in Phase 2 of clinical trials.
VAC-3S immunotherapy represents a new therapeutic class aiming at restoring the immune system of people living with HIV which is part of the functional cure approach, the "new frontier" in this therapeutic area.
Initiated in 2014, the company's phase 2a, European, randomized, double-blind and placebo-controlled study has recruited 86 patients living with HIV in 13 clinical centres in France, Germany and in Spain. The primary endpoint of this IPROTECT1 study is to evaluate the immune response to the administration of three different doses of VAC-3S, which will be compared in adults living with HIV-1 who are receiving antiretroviral therapy to control their viral load.
Joël Crouzet, CEO of InnaVirVax, declared: “I would like to thank our shareholders for their ongoing commitment. Thanks to them, the clinical development of VAC-3S will be advanced under the best possible conditions, through implementation of our European, phase 2a multicentre study. VAC-3S is a developing immunotherapy that represents a fantastic challenge and, we hope, an effective therapeutic response for HIV-infected patients in order to achieve a functional cure”.
Dr Christian Pradeyrol, Manager of the Pradeyrol Recherche-Développement holding, added: “We are delighted to participate in the continued development of InnaVirVax, and more specifically that of VAC-3S. We are proud to have been involved in this project for more than 3 years. InnaVirVax is wholly in line with our strategy focused on immunotherapies that could potentially enabled real improvements in the quality of life of patients."
Catherine Boule, Partner in CapDecisif Management, concluded: “CapDecisif Management is pursuing its investment in InnaVirVax which, since the first funding round, has shown it is capable of rapidly developing VAC-3S immunotherapy. We are thus reaffirming our support for the team and are confident regarding the next stages of the company's development."
About Pradeyrol Recherche-Développement
Pradeyrol Recherche-Développement is a family fund which invests in firms with considerable potential for innovation, particularly in the biotechnology sector (focusing mainly on vaccines and molecular diagnostics). Pradeyrol Recherche-Développement recently entrusted Alexandre Le Vert (the CEO of Imaxio) with the task of setting up its human health arm in order to broaden its investment portfolio while giving precedence to the quality of its workforce and confidence in human relations.
Fa Diese is a €25 million venture capital fund which groups some thirty general partners - who are all company managers - and who is supported by institutional investors.
The success of Fa Diese has been based on an original approach combining the philosophy of business angels and the demands of venture capital. Since its incorporation in 2001, Fa Diese has invested in 40 companies in the internet, electronic, life sciences and industrial fields. (www.fadiese.fr)
About CapDecisif Management
CapDecisif Management manages a fund worth €108 million spread between the FCPR CapDecisif 2 and G1J Ile-De-France seed funds and the Fonds Régional de Co-Investissement (FRCI). Since 2002, the management team has invested in 70 start-ups in the IT, software, life sciences, biotechnology, energy and environment and engineering sciences fields. (www.capdecisif.com)
About the Fonds Régional de Co-Investissement Ile-de-France (FRCI)
The FRCI, founded by the Paris Regional Council with support from the French Government and the European Union, is an equity investment vehicle designed to fund young innovative SMEs based in the Paris Region. The FRCI is managed by the investment team of CapDecisif Management, and intervenes exclusively via joint investments with one or more investing partners, such as business angel networks or investing funds operating in the Paris Region. (www.frci-idf.com)
About G1J Ile-de-France
G1J Ile-de-France is a €7 million seed fund specialized in the fields of the life sciences and biotechnology. Since 1999, G1J Ile-de-France, which set up under the lead of the Genopole® with the support of the Caisse des Dépôts et Consignations, has invested in 36 companies. CapDecisif Management currently responsible for managing its funds.
Based at the Genopole® in Evry, a Paris biopark, InnaVirVax is a biopharmaceutical company specializing in research and development on therapeutic solutions for infectious diseases and major chronic diseases. The most advanced project of the company, VAC-3S, is an immunotherapy currently in clinical phase 2. Incorporated in 2008, the company has since received support from the French Ministry of Higher Education and Research, Bpifrance (the French innovation agency), the French National Research Agency, the Centre Francilien de l’Innovation and the funds CapDécisif, G1J Ile-de-France FaDiese, FRCI and Pradeyrol Rercherche-Developpement. (www.innavirvax.fr)