Principia et al. in €32m series-D round for Enterome
Italian GP Principia and US-based pharmaceutical company Bristol-Myers Squibb have joined previous backers in a €32m series-D round for French pharmaceutical business Enterome.
Existing investors Seventure Partners, Health for Life Capital, Lundbeckfonden Ventures, Omnes Capital and Nestlé Health Science all took part in the funding round.
In addition, the European Investment Bank (EIB) provided a €40m credit line to the company.
Principia used its Principia III Health fund for the transaction. The vehicle, which held a first close in December 2014 and is dedicated to capital investments in venture investments in the healthcare sector, has raised €206m, of which €80m is currently invested across nine companies. According to unquote" data, the fund makes investments of up to €5m in seed capital projects and provides up to €30m for assets at the expansion stage.
The series-D round will allow the realisation of two clinical trials. Meanwhile, EIB's €40m credit line will support the acceleration of portfolio development and technology.
Previous funding
Seventure and Lundbeckfonden provided Enterome with a €5m series-A round of funding in 2012.
Two years later, a €10m series-B round was raised from Seventure, Lundbeckfonden and Omnes.
In 2016, a series-C round saw €14.5m invested by previous investors Seventure and Lundbeckfonden, as well as Nestlé Health Science. The latter is a Nestlé subsidiary that mostly focuses on developing the role of nutritional therapy to impact consumers' health.
Company
Enterome, founded in 2012 and headquartered in Paris, is a company that develops drugs for chronic medical conditions related to bacterial composition abnormalities.
It develops pharmaceuticals and diagnostics to support personalised therapies in microbiome-related diseases such as IBD, cancer and metabolic diseases.
Enterome has partnerships with pharmaceutical companies and academic research institutes, including Johnson & Johnson Innovation, Janssen Biotech and the Mayo Clinic and Geisinger hospitals for metabolic disorders.
People
Enterome – Pierre Belichard (CEO).
Principia – Paolo Siviero (investment director).
European Investment Bank – Ambroise Fayolle (vice-president).
Bristol-Myers Squibb – Paul Biondi (senior vice-president).
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