TcLand Expression (France) - Dec 2007

unquote
01 December 2007

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Auriga Partners has led a €8.2m funding round in TcLand Expression, the Nantes-based biotechnology company. Other investments came from Genzyme Ventures, Beviguen, Debiopharm and Quest for Growth. The management also contributed to the series-A round and retains about a third of the company. Prior investment in the company to the tune of €3m was concluded in 2006 and included investment from the management, Inserm Transfer and €2m from Debiopharm.

Company

TcLand was formed in 2002, but in order to facilitate the deal TcLand split in two separate factions TcLand Expression and TcLand Pharma which concentrate on biomarkers and therapeutic molecule development respectively. TcLand Expression is expected to use the investment to research and develop a new generation of biomarkers which are expected for 2009 in Europe and 2010 in the US, focusing initially on kidneys. In the next two to three years, TcLand Expression plans to use the investment to consider strategic partnerships or acquisitions to improve R&D and future distribution. The company expects to break-even after its product launch. TcLand Expression currently employs about 20 people and is looking to take on another 15 in both the R&D and senior management sectors of the business.

People

Alain Huriez, one of the company’s co-founders, is chairman & CEO of TcLand Expression and chairman of TcLand Pharma. Frank Lescure worked on the deal for Auriga Partners.

Advisers

Equity - Chammas & Marcheteau, Denis Marcheteau (Legal)Vendor - Alerion, Jacques Bouyssou (Legal)

Sourced from: France unquote" 88 (Feb 2008)