Inoviem Scientific, a Strasbourg, France-based Contract Research Biotech (CRB) company, secured €750k in funding.
– €650k ($693k) from Cap Innov’Est, the French public investment bank Bpifrance and its own banks, and
– €100k ($107k) grant from Strasbourg Eurométropole.
The company intends to use the funds to broaden its range of services and finance its move to new laboratory facilities with more space in the Illkirch-Graffenstaden innovation park in northeast France.
Led by Dr. Pierre Eftekhari, president and founder, Inoviem Scientific supplies pharmaceutical companies with key information on drug-target interaction to support decision-making along the value chain from drug discovery to post-marketing, including the pre-clinical and clinical stages of development via two label free technologies, NPOT® and PIMS®, which work on human tissue in clinical conditions.
The company had already received funding of more than €1 million ($1.07M) in 2015, from Cap Innov’Est and Bpifrance.