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Edmond de Rothschild Investment Partners leads €15m round for Allecra

18 Apr 2013

biotech_lrgEdmond de Rothschild Investment Partners has made the first investment from its BioDiscovery 4 life sciences fund by leading a €15m Series A round for Swiss-based company Allecra Therapeutics.

Forbion Capital Partners co-led the round, which was also backed by EMBL Ventures.

The funds will be used to finance early clinical development of two new antibiotic treatments designed to combat multi drugresistant gram-negative bacteria.

Allecra was launched earlier this year as a strategic partnership between Orchid Chemicals & Pharmaceuticals, the founders and the two lead investors.

Partner at Edmond de Rothschild Investment Partners Olivier Litzka said, “Allecra’s strategic partnership with Orchid is an innovative collaboration bringing together Allecra’s strong development capability with Orchid’s track record in antibiotic research and manufacturing.

“We are glad to see Allecra become the first investment of our fund Biodiscovery 4.

“After our successful experience in the anti-infectives space through the investment of the BioDiscovery funds in Novexel, we are convinced that Allecra has all the major ingredients for success.”

Edmond de Rothschild Investment Partners, which takes minority stakes in private businesses, currently has nearly €1bn under management. The life sciences team manages €355m via the Biodiscovery funds.

Back in January Edmond de Rothschild said it planned to raise €500m over the next four years and to increase assets under management to €1.3bn.

In December the firm led a €13m Series B financing round for Poxel, a French pharmaceutical company that is currently developing a novel agent to treat diabetes.

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