SFPI-FPIM et al. in €16m series-B for Euroscreen

The round was led by SFPI-FPIM, Belgium's state-backed holding and investment arm, and life sciences-focused vehicle Fund+. The latter stated it had chosen Euroscreen as an investment target after the fund was launched recently.

Having started phase-I and phase-II trials for its flagship product ESN364 in 2013, Euroscreen will use the funds to accelerate phase-II trials among uterine fibroids, polycystic ovary syndrome and hot-flash-ridden menopausal patients.

There are plans to carry out long-term toxicology analysis for the therapy and apply for a new drug permit in the US, which would allow Euroscreen to take its experimental product across state lines.

Previous funding
Euroscreen stated it has raised more than €28m in institutional funding since 2012. The business saw a €12m series-A in November of that year, led by biotech-specialised regional investor SRIW and Vesalius Biocapital, which deployed equity via its second fund in exchange for preferred stock.

Investing alongside the two firms were Life Sciences Research Partners VZW, Societe de Participation et de Gestion and Hunza Ventures, as well as existing shareholders Fortis, Compagnie du Bois Sauvage, Ackermans & Van Haaren and business angels, according to unquote" data.

Company
Spun out of Université Libre de Bruxelles in 1995, Euroscreen develops therapies for hormone-related conditions for female patients. With headquarters in Brussels, the business operates in partnership with Novartis Pharma, Merck Sharp & Dohme and Cephalom, among others.

People
SFPI-FPIM managing director Koen van Loo led the deal on behalf of the state investor, while Fund+ was represented by managing partner Chris Buyse. Jean Combalbert is CEO at Euroscreen.

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• Topics
• Benelux
• Early-stage
• Healthcare
• Belgium