CDC Entreprises and Sofinnova invest €8m in MedDay

CDC invested through the InnoBio vehicle, which closed on €140m in 2009.

The investment will fund the development of three compounds for the treatment of neuro-metabolic diseases, including further studies for a progressive treatment for multiple sclerosis. A research and development platform will also be developed.

Company
Founded in 2011 by Dr Frédéric Sedel and Dr Guillaume Brion, MedDay focuses on the treatment of neuro-metabolic diseases. MedDay is currently working towards the clinical trial of a treatment for multiple sclerosis, and the development of two proprietary compounds that address resistant psychoses and Alzheimer's.

The company is currently incubated at l'Institut du Cerveau et de la Moelle Epinière in Paris.

People
Rafaèle Tordjman worked on the deal for Sofinnova, alongside Chahra Louafi from CDC Entreprises.

Advisers
Equity - Morgan Lewis, Karen Noël (Legal); Becker & Associés, Philippe Becker (IP due diligence).
Company - Lartigue-Tournois-Associés, Véronique Lartigue, Nicolas Senesi (Legal).

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