Inotrem S.A., a Paris, France-based biotechnology company specialized in the development of immunotherapies targeting the TREM-1 pathway with potential applications for acute and chronic inflammatory syndromes, raised €19M in further funding.
Fountain Healthcare Partners, an Irish venture capital firm with offices in Dublin and New York, made a €5m investment, which brought Inotrem’s Series B financing to a final closing amount of €44M. In addition, the company secured a €13M credit line from Kreos Capital, and a €1M loan from Bpifrance, France’s public investment bank. In conjunction with the financing, Ena Prosser of Fountain Healthcare Partners will become a member of Inotrem’s Board of Directors, and Aris Contantinides of Kreos Capital will become an observer on Inotrem’s Board of Directors.
Founded in 2013 by Dr. Jean-Jacques Garaud, a former head of research and early development at the Roche Group, Prof. Sébastien Gibot and Dr. Marc Derive, Inotrem is a biotechnology company specialized in immunotherapy for acute and chronic inflammatory syndromes. The company has developed a proprietary technology platform and leverages its extensive knowledge of the TREM-1 pathway biology to develop programs in several indications with inflammatory syndromes for which there is a major and today unsatisfied therapeutic need. Its lead compound, nangibotide, targets septic shock which is the ultimate complication of sepsis.
The financing will support Inotrem’s R&D effort, in particular of its lead drug candidate, nangibotide, which is currently undergoing a global multicentric Phase IIb trial in septic shock patients (ASTONISH trial) in 5 European countries and the United States, and of a companion diagnostic tool aimed at selecting those septic shock patients that are more likely to respond favorably to treatment. The funding will also allow the company to expand its TREM-1 franchise to address chronic inflammatory diseases.
FinSMEs
12/02/2020