European Venture Capital Firm Seventure Partners renews its support to Domain Therapeutics and invests €3.5M ($3.9M) to prepare the next growth phase
Strasbourg, France, May 28, 2019 – Domain Therapeutics announces today that it has secured a €3.5M ($3.9M) investment from existing shareholder Seventure Partners, to accelerate its next growth phase. Since its inception in 2008, the French biopharma company has emerged as a key player in the field of discovery and early development of programs targeting membrane receptors in Central Nervous System (CNS) disorders; oncology/immuno-oncology and rare diseases.
In 2018, Domain Therapeutics successfully executed on the three pillars of its business strategy, thanks to a multitarget collaboration agreement with Boehringer Ingelheim, a license granted on the bioSens-All™ technology platform to BMS and the acquisition by Lundbeck of Prexton Therapeutics, one of the asset-centric companies developing Domain’s programs. Based on this outstanding performance and successful year, Domain Therapeutics is in good position to trigger its next growth phase through a new round of financing.
“Seventure Partners is proud to be a strategic financial partner for Domain Therapeutics, a company with validated breakthrough technologies,” said Sébastien Groyer, Partner, Seventure Partners. “Since our last investment in the company, Pascal Neuville and his team have significantly expanded the business and increased the value of the company.”
“With Domain being a profitable biotech, the support of Seventure aims at kick-starting our acceleration phase,” said Pascal Neuville, CEO of Domain Therapeutics. “This recognition by a major shareholder of our capacity to create value is a positive signal for future investors and will pave the way for a significant investment aimed at further speeding up company growth.”