FRANCE - Launch of First biotech start-up funding organisation

Inserm-Transfert Initiative is France’s first ever venture company to specialise in financing early-stage health and biotechnology projects. It has been launched by Inserm-Transfert, a French company that funds project development in the human health sector. The group has joined forces with CDC Entreprises, Ventech and Sofinnova Partners in its mission to provide a larger financial capacity for French biotechnology companies in their first stages of development. The four partners have each gained a 25% shareholding in the new business, by investing a total EUR 4.2m. The first investments will already be announced during the course of Q1 2006. The three venture capitalists have been chosen for their expertise in life sciences.