InnoBio joins TxCell investors in third round

This is the third investment in the company since 2004. InnoBio invested €6m in the round. Previous investors have included Auriga, AXA Private Equity, Bioam Gestion, CDC Innovation and Seventure with successive €10.5m rounds in 2004 and 2008.

The financing will help the company develop its lead drug candidate Ovasave, an immunotherapy for the treatment of Crohn's disease in patients who don't respond to current treatments.

Company
TxCell was spun out of France's National Institute for Health and Medical Research in 2001 and is located in the technology park of Sophia Antipolis, near Nice in southern France. The company employs 27 people.

TxCell develops cell-based immunotherapies for the treatment of chronic inflammatory diseases. Following its recently completed PhI/II study in refractory Crohn's disease patients, the company plans to initiate a PhIIb study of its lead product Ovasave.

People
The team leading the investment round included Laurent Arthaud, Marie-Laure Garrigues and Thibaut Roulon for CDC Entreprises, Emmanuel Fiessinger for Seventure and Bernard Daugeras for Auriga.

Advisers
Equity – SJ Berwin, Pierre-Louis Perin (Legal); CDC Entreprises, Boubakar Dione, Julien Holeindre (Legal).
Company – Cotty Vivant Marchisio & Lauzeral, Thierry Cotty, Francois Brocard, Marie Nezam (Legal).

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• Topics
• France
• Healthcare
• Early-stage
• France
• CDC Entreprise Innovation
• Axa Private Equity
• Seventure (SPEF)
• SJ Berwin