Ace and Auriga in €2.6m round for Pherecydes Pharma

Business angels also took part in the round, which will allow the company to conduct the first clinical trial of its main product and develop new treatments. ACTA-Finances intermediated the fundraising process.

Ace Management currently invests from its Aerofund III vehicle, which held a first close in January 2013 with a €300m target and €150m already committed. The healthcare deal marks something of a departure for the firm, which tends to focus on sectors such as aerospace, transportation and defence.

Auriga, meanwhile, is believed to have invested via its €40m Auriga IV Bioseeds fund. The vehicle invests €500,000–3m in start-ups operating in the fields of infectiology and microbiology.

Company
Founded in 2007, Pherecydes is developing a range of treatments for bacterial infections. Rather than focusing on antibiotics, the company is basing its products on phagotherapy – the therapeutic use of bacteriophages (natural bodies that feed off bacteria). Pherecydes currently has a pipeline of four products.

People
Gilles Daguet led the deal for Ace Management, while Auriga was represented by Emmanuelle Coutanceau.

Advisers
Company – ACTA-Finances (Corporate finance).

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