MedDay, a Paris, France-based biotech company, raised €8m in funding.
The company intends to use the funding to 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 1103 targeting a subgroup of resistant psychoses and
– MD 1105 targeting Alzheimer’s disease.
The funds will be also used for the development of an R&D platform in partnership with the Metabolomics Team at the Institute for Biology and Technology, Commissariat à l’énergie atomique (CEA, Saclay).
Founded in 2011 by Dr Frédéric Sedel and Dr Guillaume Brion, MedDay specializes in the treatment of neuro-metabolic diseases. The company’s technology platform leverages the work of Dr Frédéric Sedel, a neuroscientist at La Pitié Salpêtrière Hospital (Paris), in the area of neuropsychiatric diseases. The company is currently incubated at l’Institut du Cerveau et de la Moelle épinière in Paris (ICM).