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Inoviem Scientific Receives €545,000 from French Public Investment Bank Bpifrance

publication date: Jun 8, 2015
 | 
author/source: Inoviem Scientific

This year, Inoviem Scientific has raised over €1 million ($1,12 million) to produce and market its innovative services for selecting leads and determining molecule mechanisms of action under physiological conditions 

BpifranceInoviem Scientific, a Contract Research Biotech (CRB) company today announces that it has received additional funding of €545,000 ($611,000) from French public investment bank bpifrance. The company leverages two proprietary technologies to offer pharmaceutical players increased speed and enhanced safety at all stages of drug development; from drug discovery (the identification of secondary targets and detection of potential adverse effects, etc.) through to clinical trials (with patient stratification and identification of biomarkers, etc.).

Inoviem Scientific approached bpifrance and obtained a loan of €545,000 ($611,000) following a comprehensive review of its plans. There are two elements to the funding:

  • A zero-interest innovation loan of €295,000 ($331,000) for development and automation of the company’s existing innovative technology and the development of further ‘label-free’ technologies under physiological conditions. The next step will be the announcement of scientific results in one to two years’ time
  • A France Europe Innovation (FEI) loan of €250,000 ($280,000) to support market launch

The FEI loan will allow Inoviem Scientific to automate its NPOT (Nematic Protein Organization Technique) technology to increase sample throughput and revenue potential. This automation will help the company to achieve rapid, simultaneous throughput of samples for analysis in a way that can be reproduced.

The zero-interest innovation loan will help Inoviem Scientific to finalize the development and automation of a device for patient stratification in clinical trials. As with NPOT technology, automating its PIMS (Physiological Intermolecular Modulation Spectroscopy) technology will help the company obtain an initial prototype that provides much more accurate, refined data and is capable of analyzing over 50 samples per day. The zero-interest innovation loan will also help in developing further technologies under physiological conditions. The innovative technologies developed by Inoviem Scientific are used exclusively on human samples from biobanks or patients, with unlabeled molecules and drugs (including biologics). Automating these powerful, refined analytical technologies will considerably increase sample throughput and provide clients with even better service.

“The bpifrance funding for Inoviem Scientific is a further mark of confidence in our development potential. It strengthens our organizational structure for smooth development of our business proposition,” said Dr Eftekhari, founder and chairman of Inoviem Scientific. “By supporting our plans for innovation bpifrance is contributing to the implementation of our strategy for growth and expansion in the European market. Using these funds, our staff can put plans to produce our high value-added technologies into action and launch them commercially. We are now well positioned to pursue Inoviem Scientific’s goals of improving drug development for better treatment adaptation, reducing suffering and improving quality of life for patients and their loved ones.”

“Following the success of the seed capital funding round with CapInnov’Est in late January, bpifrance wanted to support the growth of an innovative young business by providing us with assistance for future technological expansion and productivity,” added Frédéric Perraud, Inoviem’s director of administration and finance. “This additional funding follows an in-depth review of our technologies and our development plan. Once again, it demonstrates Inoviem Scientific’s ability to successfully achieve its objectives.”

About Inoviem Scientific

Inoviem Scientific is an innovation and technological driven Contract Research Biotech (CRB) that aims to support its pharmaceutical and biotechnology industry clients in developing safer pharmacological agents. The company has three core values: respect for life, excellence and innovation. Inoviem Scientific was founded in 2011 by Dr. Pierre Eftekhari and is rooted in two proprietary technologies that underpin the company.

At the end of 2013 Dr. Pierre Eftekhari, chairman, scientific manager and inventor of Inoviem Scientific’s technologies was joined by Dr. Frédéric Perraud, CFO and Dr. Daniel Da Costa, business development manager. In 2013, Inoviem Scientific hired its first employees and moved into premises at the Strasbourg-based Institut de Sciences et d’Ingénierie Supramoléculaire (Institute of Supramolecular Sciences and Engineering). This is home to the 1987 and 2013 winners of the Nobel Prize in Chemistry. The company now has around ten staff. Inoviem Scientific is committed to human and financial investments in the development of complementary technologies to provide clients with creative and innovative technology solutions.

About bpifrance

Bpifrance is a subsidiary of Caisse des Dépôts and the state. It is a subsidiary of Caisse des Dépôts et de l’État and the trusted partner of entrepreneurs. The French public investment bank finances businesses from the seed phase to stock exchange listing, through loans, guarantees and equity. Bpifrance accompanies firms developing export activities and provides support services for their innovation and acquisition projects, in partnership with Business France and Coface.

Bpifrance offers businesses a financing continuum, present in every key phase of business development and, an offer adapted to the specific regional context. With a network of 42 regional offices (90% of decisions are made at the regional level.)

Bpifrance serves entrepreneurs to boost economic competitiveness. Bpifrance acts in support of public policy established by the State and the Regions to meet three goals:

  • accompany businesses in their growth
  • prepare tomorrow’s competitive landscape
  • develop an ecosystem that favours entrepreneurship

Bpifrance acts as a powerful partner to businesses, one that is on hand and able to respond efficiently to all of their financing, innovation and investment needs.


more about bpifrance


 Inoviem Scientific Receives €545,000 from French Public Investment Bank Bpifrance



 

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