DBV Technologies, a Paris, France-based biotechnology company whose products are designed to epicutaneously deliver allergens for Epicutaneous Immunotherapy (EPIT) against food allergies such as peanut and milk, has secured $25.5m (€19,4m) in a Series C financing round.
The round was co-led by new investors InnoBio Fund* and Lundbeckfond Ventures, with participation from Shire plc and ALTO Invest, Sofinnova Partners, ALK Abello, Apax Partners, Cap Décisif, and Creagro.
As also stated by Pierre-Henri Benhamou, M.D., co-founder and CEO of the company, the cash infusion will enable DBV Technologies to move forward with its proprietary epicutaneous patch technology, which involves maintaining an allergen on the skin of an allergic subject for repeated and prolonged periods in order to obtain clinical desensitization.
Aelios Finance advised DBV Technologies on this financing transaction.
*InnoBio is a fund managed by CDC Entreprises and sponsored by the French state sovereign fund FSI and pharmaceutical companies including Sanofi Aventis, GSK, Roche, Novartis, Pfizer, Lilly, Ipsen, Takeda and Boehringer-Ingelheim.