Rhenovia Pharma Raises €540K in Second Round of Funding

Rhenovia Pharma, a Mulhouse, France, and Cambridge, Massachusetts, USA-based biotechnology company specialized in the application of biosimulation to the research and development of new medicinal products, raised €540k (approximately $738k) in a second round of funding.

Backers included Alsace Business Angels and the SODIV fund.

The company, which plans to raise a further €2m in 2014, intends to use the funds to expand its staff, particularly in the areas of marketing and therapeutic applications.

Founded in 2007, Rhenovia 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, reducing the need for animal testing. Its technology can also measure the effects of neurotoxic agents such as pesticides, nanoparticles, industrial emissions and chemical weapons and help in the development of antidotes to poison gas, making it of key interest to stakeholders in civil and military protection.

The new round will be open to new investors, particularly family offices to step up development across the three key markets that it already services: pharmaceutical, agrifood and neurotoxicity.

The company has around twenty members of staff in France, Switzerland, Germany and the US.

FinSMEs

12/02/2014

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