French biopharma developer Synthelis secures seed investment


French biopharmaceutical developer Synthelis has secured initial backing of €610,000 from investors comprising Rhone-Alpes Creation, Alpes Developpement Durable Investissement (A2D-Invest), Sud Rhone-Alpes Capital, Viaduc and the Savoy and Grenoble Business Angels networks.

The aim of this initial round of funding is to speed up the development of toll manufacturing services for membrane proteins for use by R&D departments in the pharmaceutical and biotechnology industries, the company said . The funding also gives the company scope to consolidate and expand its functional and structural characterisation services, according to Synthelis CEO Bruno Tillier.

Founded in 2011 by Tillier to build on Professor Jean-Luc Lenormand’s work at the TIMC-TheREx laboratory, part of the Universite Joseph Fourier in Grenoble, France, Synthelis develops and leverages an innovative patented technology for the acellular production of membrane proteins in the presence of liposomes.

In 2012, the market in which Synthelis currently operates – R&D services for the pharmaceutical industry – was valued at €20bn, with an annual growth rate of 13 per cent.

“We are pleased to be contributing to the development plans of what is a very promising young company. This is a classic case of a start-up founded on a technology coming out of a university laboratory needing financial support to make its mark as a leader in its field. The role of regional funds such as Rhone Alpes Creation and the Business Angels is to help innovative businesses like Synthelis,” said Gwenael Hamon, senior business manager at Rhone Alpes Creation.

Copyright © 2014 AltAssets