Satellite Banner
Scientific Communities
Become a Member | Sign in
Home>News>This Article

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 2,800+ scientific posters on ePosters
  • More Than 4,000+ 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 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
High Throughput Mass Spectrometry-Based Screening Assay Trends
Dr John Comley provides an insight into HT MS-based screening with a focus on future user requirements and preferences.
How a Genetic Locus Protects Adult Blood-Forming Stem Cells
Mammalian imprinted Gtl2 protects adult hematopoietic stem cells by restricting metabolic activity in the cells' mitochondria.
Genetic Basis of Fatal Flu Side Effect Discovered
A group of people with fatal H1N1 flu died after their viral infections triggered a deadly hyperinflammatory disorder in susceptible individuals with gene mutations linked to the overactive immune response, according to a recent study.
New Tech Vastly Improves CRISPR/Cas9 Accuracy
A new CRISPR/Cas9 technology developed by scientists at UMass Medical School is precise enough to surgically edit DNA at nearly any genomic location, while avoiding potentially harmful off-target changes typically seen in standard CRISPR gene editing techniques.
The MaxSignal Colistin ELISA Test Kit from Bioo Scientific
Kit can help prevent the antibiotic apocalypse by keeping last resort drugs out of the food supply.
"Good" Mozzie Virus Might Hold Key to Fighting Human Disease
Australian scientists have discovered a new virus carried by one of the country’s most common pest mosquitoes.
Non-Disease Proteins Kill Brain Cells
Scientists at the forefront of cutting-edge research into neurodegenerative diseases such as Alzheimer’s and Parkinson’s have shown that the mere presence of protein aggregates may be as important as their form and identity in inducing cell death in brain tissue.
Closing the Loop on an HIV Escape Mechanism
Research team finds that protein motions regulate virus infectivity.
New Class of RNA Tumor Suppressors Identified
Two short, “housekeeping” RNA molecules block cancer growth by binding to an important cancer-associated protein called KRAS. More than a quarter of all human cancers are missing these RNAs.
Potential Treatment for Life-Threatening Viral Infections Revealed
The findings point to new therapies for Dengue, West Nile and Ebola.
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
2,800+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,000+ scientific videos