EdRip leads €15m round for GamaMabs Pharma

EdRip deployed equity via its BioDiscovery 4 life sciences fund, which closed on €192m at the end of 2013. The firm's life sciences funds typically act as lead investor in funding rounds and tend to acquire a shareholding of 15-25% in the companies they back.

BPI France, Ixo Private Equity and the Irdinov fund backed the creation of GamaMabs with a €3.1m investment in 2013, working in partnership with French pharma group LFB.

BPI France, which led the funding round, backed the company via the €139m Innobio fund. GamaMabs was launched by LFB in partnership with the investor consortium's funding, but was set up to operate as a standalone company.

The fresh funding raised in this second institutional round will be used to finance clinical trials for GamaMabs' GM102 antibody, which is designed to treat gynecological cancers.

Company
Founded in 2013, GamaMabs is a life sciences business that develops antibodies to treat cancer. Its flagship product is the GM102 antibody, designed to address cancer of the ovaries in women. GamaMabs is based in Toulouse with a further office in Paris. The company employs six staff.

People
Gilles Nobécourt led the deal for EdRip and will take a seat on the company's board.

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