PARIS--(BUSINESS WIRE)--Home Biosciences, Europe’s first venture builder fully dedicated to biotech, announced today a $15 million Seed financing led by Redmile Group and Sofinnova Partners.
Home Biosciences is the partner of choice for academics and scientists to transform their innovation into life changing therapies for patients. Every step of the way, Home Biosciences works together with leading scientific teams to build and grow sustainable businesses, by assembling the right expertise and structure. Each project is housed in a dedicated entity, a subsidiary, fully financed by Home Biosciences and led by teams entirely focused on the day-to-day execution of its projects with oversight from the Home Biosciences core management team.
"We are pleased to have such strong support from Redmile Group and Sofinnova Partners, two landmark investors in biotech, who recognize our potential to build a new type of biotech company, out of European science," said David Schilansky and Magali Richard, co-founders of Home-Biosciences. “Our ambition is to build a fully-fledged biotech company with an asset-centric operational model that aims to increase agility and R&D productivity. With the strong support of our shareholders, we look forward to leverage best-in-class science that will ultimately allow us to discover and deliver a new wave of first-in-class therapies.”
Proceeds from the financing will be used to accelerate the development of Home Biosciences’ pipeline while further strengthening its team. Specifically, the round will allow the company to advance its first venture, One Biosciences, as well as build a second one and a strong pipeline of projects. One Biosciences is focused on generating precision medicines by leveraging the power of single-cell technologies.
“Home Biosciences is pioneering an innovative model that fills an important gap in the European biotech ecosystem," said Antoine Papiernik, Managing Partner at Sofinnova Partners. “We are delighted to join forces with Redmile Group in supporting Europe’s first biotech venture builder in its mission to provide financial support and operational guidance, to create the groundbreaking therapies of the future.”
In connection with the Seed round, Ming Fang, a Managing Director of Redmile Group, and Antoine Papiernik, Managing Partner at Sofinnova Partners, will serve on the Board of Directors. They will join David Schilansky and Magali Richard, co-founders of Home Biosciences. An independent member of the Board is expected to be appointed in the near future.
About Home Biosciences
Home Biosciences is Europe’s first venture builder fully dedicated to biotech. Home Biosciences is the partner of choice for academics and scientists to transform their innovation into life changing therapies for patients. Every step of the way, Home Biosciences works with leading scientific teams to build and grow sustainable businesses, by assembling the right expertise and structure. With each of its projects housed in dedicated ventures and fully financed by Home Biosciences, its operating model allows full focus of its teams on scientific and operational excellence and rapid execution to significantly expedite and de-risk their discovery and development paths. For more information, visit: www.homebiosciences.com