Paris-based biopharmaceutical company Biophytis has raised €2m in its Series B round. Metabrain Research, a spin-off of pharmaceutical company Merck Serono, joined existing investors Seventure and CM-CIC Capital Prive in the financing.
The company said it will use funds to continue development of its nutraceuticals pipeline and to develop drug candidates for the treatment of metabolic and age-related diseases.
Biophytis is undertaking two projects, which are sponsored by the Medicen competitivity cluster in the Paris region and which benefit from grants of €2.3m from a number of European and French local and national government bodies, including cross-ministry funding body, the European Regional Development Fund, the Essonne and Seine-Saint-Denis departments, the Ile de France region and the city of Paris.
“The worldwide market of nutrition, where food and drugs meet, has already reached €120bn annual revenues and is growing at ten per cent a year,” said Isabelle de Cremoux, general manager at Seventure, the life sciences investment subsidiary of Natixis. “This makes it very attractive to many industry players. Biophytis is a pioneer in this field and this financing will allow it to accelerate its development with a strategy targeting both drugs and nutrition.”
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