Corporate Banner
Satellite Banner
Technology
Networks
Scientific Communities
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Rhenovia Pharma Secures Series B Funding

Published: Thursday, February 13, 2014
Last Updated: Thursday, February 13, 2014
Bookmark and Share
The company raises EUR 540,000 (USD 738,000) from historical shareholders to expand its staff.

Rhenovia Pharma has announced that it has raised EUR 540,000 (USD 738,000) from its historical shareholders in a second round of funding.

Founded in 2007, Rhenovia is the world leader in biosimulation of the central nervous system. The company uses its unique technology to create computer simulators that predict the effect of molecules both on healthy patients and others living with conditions such as Alzheimer's disease, Parkinson's disease, epilepsy and depression.

The simulators considerably reduce the need for animal testing. They have numerous applications in the pharmaceutical and agrifood industries and within civilian and military security (neurotoxicity).

In 2009, Rhenovia obtained initial funding from a pool of investors drawn from the Alsace Business Angels and the SODIV fund providing support to SMEs in the Alsace region of France.

The second-round funding of EUR 540,000 announced today came from historical investors. The funds provide a boost to Rhenovia's capital and the means for it to add to its team of staff, particularly in the areas of marketing and therapeutic applications.

“The unfailing support of our historical shareholders has helped us to become the world leader in biosimulation of the central nervous system and to sign our first contracts with industrial partners,” said Dr Serge Bischoff, co-founder and CEO of Rhenovia. “This second round of funding is key to building our business development.”

Third-round funding planned for 2014

Rhenovia plans to complete a third round of funding of EUR 2 million in 2014. This will be open to new investors, particularly family offices. To date the company has largely self-funded its growth. It now intends to step up development across the three key markets that it already services: pharmaceutical, agrifood and neurotoxicity. Each of these three sectors has strong growth potential.

By using Rhenovia's technology, the pharmaceutical industry can identify new drug candidates and shorten lead times for development, reducing the costs of R&D. The technology also helps in anticipating risk (of side effects or interactions with other molecules, for example). As a result, it can reduce the rate of clinical stage failure. The health care and financial stakes are therefore considerable.

In the field of agrifood, Rhenovia's simulators help in the study of how the properties of foodstuffs, neutraceuticals and food supplements affect the central nervous system, contributing to R&D in the sector and to the validation of alleged health benefits. Another challenge is to improve the prevention of neurodegenerative disorders such as Alzheimer's and Parkinson's diseases.

Rhenovia's technology can also measure the effects of neurotoxic agents such as pesticides, nanoparticles, industrial emissions and chemical weapons. It may also help in the development of antidotes to poison gas, making it of key interest to stakeholders in civil and military protection.

Rhenovia now has client contracts in each of these three markets.

Rhenovia provides high-value added consultancy services based on the use of its computer simulators, the development of new, bespoke simulators and licensing for new technologies.

The funding raised in 2014 should enable a rapid increase in Rhenovia's rate of business development. The company has particular plans to supplement its service offering, structuring it to suit each of its target markets with the intention of capturing a significant share of the international market for biosimulation of the central nervous system.

This market is showing strong growth. According to Rhenovia, it is expected to be worth several tens of millions of euros in 2018.


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,500+ scientific posters on ePosters
  • More Than 3,800+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Rhenovia Pharma Announces Development of First Computer Simulator
Developed within the context of the RHENEPI consortium, this computer simulator opens up new possibilities for research into new treatments for epilepsy and identification of the convulsion risks associated with candidate drugs or environmental factors.
Wednesday, October 30, 2013
Rhenovia Pharma Recognized as the World Leader in Biosimulation of CNS
In 2013, the company is preparing to gather a second round of EUR 2.5 million to accelerate its development.
Monday, May 20, 2013
Rhenovia Launches Drug Discovery Programs in Rare, Orphan and Neglected Neurodegenerative Diseases
Neurological specialist will carry out research based on its unique biosimulation platforms.
Tuesday, March 20, 2012
Rhenovia Pharma Opens First US Office
Deployment will widen use of biosimulation technology.
Friday, January 27, 2012
Rhenovia Enters into a Strategic Alliance with Portmann Instruments for Marketing its Biosimulation Services in Switzerland
The two companies have signed a strategic agreement covering the promotion of Rhenovia’s drug optimization technologies on the Swiss and German markets.
Thursday, May 26, 2011
Rhenovia Signs Two-year EUR 500,000 Partnership with AFM for Diseases of the Nervous System
Agreement will accelerate development of Rhenovia’s technology and enable AFM to explore new avenues for the treatment of neurological diseases.
Friday, December 10, 2010
Scientific News
NIH Study Finds Calorie Restriction Lowers Some Risk Factors for Age-Related Diseases
Two-year trial did not produce expected metabolic changes, but influenced other life span markers.
Immunotherapy Agent Benefits Patients with Drug-Resistant Multiple Myeloma in First Human Trial
Daratumumab proved generally safe in patients, even at the highest doses.
Low-level Arsenic Exposure Before Birth Associated with Early Puberty in Female Mice
Study examine whether low-dose arsenic exposure could have similar health outcomes in humans.
Inciting an Immune Attack On Cancer Cells
A new minimally invasive vaccine that combines cancer cells and immune-enhancing factors could be used clinically to launch a destructive attack on tumors.
‘Mutation-Tracking’ Blood Test for Breast Cancer
Scientists have developed a blood test for breast cancer able to identify which patients will suffer a relapse after treatment, months before tumours are visible on hospital scans.
Cellular Contamination Pathway for Heavy Elements Identified
Berkeley Lab scientists find that an iron-binding protein can transport actinides into cells.
Intensity of Desert Storms May Affect Ocean Phytoplankton
MIT study finds phytoplankton are extremely sensitive to changing levels of desert dust.
Common ‘Heart Attack’ Blood Test May Predict Future Hypertension
Small rises in troponin levels may have value as markers for subclinical heart damage and high blood pressure.
LaVision BioTec Reports on the Neuro Research on the Human Brain After Trauma
Company reports on the work of Dr Ali Ertürk from the Institute for Stroke and Dementia Research at LMU Munich.
NIH Study Shows No Benefit of Omega-3 Supplements for Cognitive Decline
Research was published in the Journal of the American Medical Association.
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,800+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!