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Domain Therapeutics S.A.. (7/17/12). "Press Release: Domain Therapeutics Closes 2 Million Euros Funding Round". Strasbourg.

Organisations Organisation Domain Therapeutics S.A.
  Group Domain Therapeutics (Group)
  Organisation 2 Seventure Partners
  Group BPCE (Group)
Products Product GPCR inhibitor
  Product 2 venture capital
Index terms Index term Domain Therapeutics–SEVERAL: investment, 201207 financing round €2m incl new + lead investor Seventure Partners investing €1m
  Index term 2 Domain Therapeutics–Andrew Lloyd Associates: public relations, 200812 service existent
Persons Person Eletr, Sam (Third Wave Technologies 200504 Director)
  Person 2 Neuville, Pascal (Domain Therapeutics 200812c– CEO)
     


The funds will enable the company to strengthen its position as a strategic collaborative partner to the pharmaceutical industry for discovering drugs targeting GPCRs


Domain Therapeutics, a biopharmaceutical company specialized in the research and early development of new drug candidates targeting Gprotein Coupled Receptors (GPCRs), announces today that it has completed a two million Euros financing round.

Half of the funds have been provided by a new investor, Seventure Partners and the other half has been committed by another new investor, SODIV, and Domain's existing shareholders - AIRFI, IP Growth, Auriga and Sam Eletr, the Chairman of the Board. Domain Therapeutics' business model is currently transitioning from contract research activities for the pharmaceutical industry to collaborations and strategic alliances with existing clients and new partners. The new financing will support this evolution. During the past three years Domain has validated its innovative approach and is now strengthening its proprietary drug discovery platform DTect-AllTM with complementary technologies to better respond to the GPCR market needs. In addition, some 30 high-throughput screening assays targeting high-potential GPCRs will soon be added to the Company's existing portfolio. Domain Therapeutics is also moving forward with its internal research programs focusing on Alzheimer's disease and depression (mGluR2 NAM), Parkinson's disease (mGluR3 PAM - supported by the Michael J. Fox Foundation) and schizophrenia (undisclosed orphan GPCR - supported by a government grant).

"Domain Therapeutics has succeeded in becoming a recognized player in GPCR drug discovery, and we have been very impressed by the Company's recent achievements," said Sebastien Groyer, partner at Seventure Partners. "The pharmaceutical industry is increasingly externalizing its R&D projects and sourcing its future drug candidates from innovative start-ups. We, therefore, believe in the success of Domain Therapeutics' model and are delighted today to join the Company, as it embarks on another phase of strong value creation."

The market for GPCRs is the largest in terms of current therapeutic targets. It accounts for over 40 per cent of the drugs currently on the market and represents annual sales of more than USD 40 billion. Yet the therapeutic potential of this receptor family still remains very significant and largely underexploited, since drugs acting on GPCRs address only fifteen per cent of this class of therapeutic targets.

The DTect-AllTM platform is doubly innovative compared with classic approaches to the discovery of new drug candidates. It makes it possible to work on the most difficult GPCRs: those that have not resulted in the discovery of any new drugs up to now. It also permits the selective discovery of allosteric modulators, which have greater therapeutic interest than conventional drugs but remain more difficult to identify using traditional screening methods.

"We are very pleased with the confidence placed in the Company by our new investors and are very grateful to our historic shareholders for renewing their support," said Pascal Neuville, Chief Executive Officer of Domain Therapeutics. "After breaking even financially two years ago, thanks to our contract research business, this injection of capital will be dedicated to accelerate the transition towards the next step of value creation and will enable the Company to stay at the forefront of GPCR drug discovery."


About Domain Therapeutics

Domain Therapeutics is a biopharmaceutical company located in Strasbourg, France that is dedicated to the discovery and early development of small molecules targeting G-Protein Coupled Receptors (GPCRs), one of the most important classes of drug targets. Domain Therapeutics discovers allosteric modulators by exploiting its innovative and proprietary DTect-AllTM technology. The Company's pipeline is composed of new chemical entities, ranging from hits to optimized leads for significant indications such as schizophrenia, Parkinson's disease and diabetes. For further information, go to: http://www.domaintherapeutics.com


About Seventure Partners

Seventure Partners has been investing in highly innovative industries since 1997 as an active partner of companies with strong growth potential. With more than EUR 500 million under management, Seventure is one of the leaders of the European venture capital industry, investing in the life sciences, communications and information technology sectors throughout Europe.

Seventure is a subsidiary of Natixis, part of the BPCE group, one of France's largest banks. In the life sciences sector, it invests in four areas - biopharmaceutical products, medical devices, industrial chemicals and biotechnology and non-medical health products and services (nutrition, nutraceuticals, skincare, etc.). Seventure Partners also invests in diagnostics, galenic improvements, the environment, bioenergy, wellbeing and services. It typically invests between EUR 500,000 and EUR 10 million in a funding round, within a ceiling of EUR 20 million per company, at any stage of their development. For further information, go to: http://www.seventure.fr


Contact Media and Analysts

Andrew Lloyd & Associates
Andrew Lloyd /Neil Hunter
allo@ala.com / neil@ala.com
Tel: +44 1273 675 100

   
Record changed: 2015-08-27

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