Domain Therapeutics, a Strasbourg, France-based biopharmaceutical company, closed a €6m ($6.7M) debt financing.
The French Public Investment Bank, Banque Populaire Alsace Lorraine Champagne, Credit Industriel et Commercial (CIC) and Caisse d’Epargne Grand Est Europe (CEGEE) have participated in this non-dilutive financing.
The company intends to use the funds to expand its proprietary drug portfolio and prepare the next round of financing.
Led by Pascal Neuville, CEO, Domain Therapeutics is specialized in the discovery and development of new drug candidates targeting G Protein-Coupled Receptors (GPCR) in neurology, oncology and rare diseases.
Domain identifies and develops candidates (allosteric modulators and biased ligands) and leverages a three revenue-generating pillars within its innovative business model:
1) collaboration with pharma companies for the discovery of new molecules
2) out-licensing of its bioSens-All™ technology and
3) creation of asset-centric vehicles for the development of its internal pipeline of preclinical candidates for central nervous system disorders, cancer and rare diseases.