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Entrepreneurs Fund, Sham lead $10m round for France’s CYTOO

28 Nov 2011

UK venture capital firm Entrepreneurs Fund and Paris-based mutual insurance group Sham have led a $10m Series C financing round for CYTOO, a French start-up specialising in cell-based assays.

Existing investors Auriga Partners and Jacques Lewiner, co-founder and president of the supervisory board at CYTOO, also participated.

The company holds a worldwide license from the Institut Curie and the CNRS for its adhesive micropattern patent portfolio, as well as license agreements with Harvard University and CEA, the largest government-funded technological research organisation in France.

Franck Lescure, a partner at Auriga Partners and member of the supervisory board at CYTOO, said, “This funding represents a strong achievement in the young history of CYTOO. The company has now the financial means for turning its technological advantage into a commercial success.”

In April Entrepreneurs Fund joined Belgian venture capital firm Capricorn and Switzerland’s BioMedInvest in a CHF23.7m (€18.1m) Series B financing round for Swiss medical business NovaShunt, a medical device company that produces pump systems to alleviate fluid build-ups in the human body.

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