PathoQuest Secures 8 Million Euros in New Financing
PathoQuest, a genomic expert company dedicated to the microbiology testing market and a leader in clinical diagnostics and biologics testing applications, today announces the closing of an 8M euros financing series. The funding includes a venture loan from Norgine Ventures, financing from historical investors Kurma Partners, Idinvest Partners and strategic partner, Charles River Labs and a new venture investor, investiere. The financing also includes 427K euros in non-dilutive funding from the French Public Program Investissement d’Avenir (PIA3) - concours Innovation i-Nov which is dedicated to bioproduction.
“We are excited to make this investment in PathoQuest since they represent an exciting healthcare company that delivers novel solutions addressing challenges faced by biopharmaceutical companies in their quest to deliver safer, better treatments to patients,” stated Chris Gay-Crosier, Head International Investments at investiere. “ PathoQuest’s expertise has also enabled the company to broaden the application of next-generation sequencing (NGS) into clinical microbiology through the development of iDTECT™ Dx Blood, a promising new test designed to assist clinicians with their efforts to implement effective antimicrobial stewardship initiatives.”
“We are pleased to complete this financing round since it will permit the company to further establish our position as a leader in the application of NGS to microbiologic testing,” commented Jean-Francois Brepson, PathoQuest’s CEO. “This financing is a direct result of the company’s efforts to date, including the rapid expansion of our Biologics Genomic Services business and the advancement of efforts with iDTECT Blood in a clinical setting.”
International Technology and Life Sciences investment firm Fraser Finance ( fraserfinance.com) acted as exclusive financial advisor to PathoQuest for this transaction. Willy Mathot Avocat ( willymathot-avocat.com) acted as legal advisor to PathoQuest.
PathoQuest, a spin out of Institut Pasteur, is a life sciences company offering a game changing metagenomics approach to improving pathogen detection in biological samples. PathoQuest’s technology combines a Next-Generation Sequencing (NGS) platform and a proprietary sample preparation process which is applicable to several types of samples with a proprietary pathogen genome sequence database and automated analysis pipeline. The company’s solution provides microbiologists and clinicians with a comprehensive analysis covering all known clinically relevant human pathogens. PathoQuest has developed iDTECT™ Blood, the first and only CE IVD metagenomic test for clinical infectious disease diagnosis.
Based on the company’s technological platform, PathoQuest also offers biopharmaceutical companies a disruptive approach to secure production of biologics like vaccines, recombinant proteins, cell and gene therapies. PathoQuest’s Biological Genomic Services are currently being utilized by a growing number of major biopharma companies and clinical stage biotech companies. For more information visit www.pathoquest.com.
About Charles River
Charles River provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Our dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. To learn more about our unique portfolio and breadth of services, visit www.criver.com.
Idinvest Partners is a leading European mid-market private equity firm. With €8bn under management, the firm has developed several areas of expertise including innovative startup venture capital transactions; mid-market private debt, i.e. single-tranche, senior and subordinated debt; primary and secondary investment and private equity advisory services. Founded in 1997, Idinvest Partners used to belong to the Allianz Group until 2010, when it branched out as an independent firm. In January 2018, Idinvest Partners became a subsidiary of Eurazeo, a leading global investment company, with a diversified portfolio of €17bn in assets under management, including approximately €11bn from investment partners, invested in over 350 companies. www.idinvest.com
investiere is the leading European startup investment platform for qualified and institutional investors. Our investment professionals screen thousands of companies and present the best investment opportunities on our digital platform after a rigorous due diligence process. investiere focuses on European high-tech startups. The investiere community consists of more than 3'600 qualified private investors, family offices and pension funds. Furthermore, numerous Swiss corporates rely on investiere's VC expertise to screen, select and invest in promising startups (clients include Swiss Post, u-blox, a leading Swiss health insurer, as well as a publishing house). With CHF 30 million invested in 2018, investiere is Switzerland’s most active startup investor. Zürcher Kantonalbank, the third-largest bank in Switzerland, is a minority shareholder of investiere. To join our international and growing investor community, visit www.investiere.ch.
About Kurma Partners
Founded in July 2009, Kurma Partners is a key European player in the financing of innovation in healthcare and biotechnology, from pre-creation to growth capital, notably through Kurma Biofund I through III and Kurma Diagnostics, as well as via strategic partnerships with prestigious European research and medical institutions. www.kurmapartners.com
About Norgine Ventures
Norgine, a leading European specialist pharmaceutical company that has been bringing transformative medicines to patients for over a century, established Norgine Ventures as a complementary business in 2012. Norgine Ventures supports innovative healthcare companies through the provision of debt-like financing in Europe and the US. For more information, please visit www.norgineventures.com.
+33 (0) 170 821 790
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Verimatrix Wins TV Technology’s Best of Show for VCAS 5 for DVB26.5.2020 17:45:00 CEST | Press release
Verimatrix, (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced that its VCAS™ 5 for DVB solution is a winner of the 2020 Future Best of Show Awards, presented by TV Technology. The award recognizes VCAS 5 for DVB – a powerful, re-engineered version of its VCAS for DVB Broadcast security solution – as an outstanding new product. “Despite not being able to debut VCAS 5 for DVB at NAB Show, we are thrilled for it to receive such a positive reception by the industry experts who served on Future’s Best of Show Awards panel of judges,” commented Asaf Ashkenazi, COO of Verimatrix. “What makes the next-generation solution stand out is not just its ability to provide the highest level of broadcast security available today, but also its ability to do so while benefitting operators with improved speed, adaptability, scalability and cost savings – as well as a reliable end-user experience.” In April, Verimatrix announced it had f
Mary Kay Unveils Groundbreaking Research During Skin of Color Society Virtual Program26.5.2020 17:32:00 CEST | Press release
Mary Kay Inc., a leader in skin care innovation for more than 56 years, continued its ongoing support of the beauty and scientific communities by presenting findings during the 2020 Skin of Color Society Symposium Virtual Program. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200526005633/en/ Dr. Lucy Gildea, Chief Scientific Officer of Mary Kay (Photo: Mary Kay Inc.) Dr. Cristi Gomez, Director, Product Safety & Environmental Toxicology, revealed new research on the science behind LumiVie, an intensive serum by Mary Kay that brightens, energizes and moisturizes skin. As urbanization increases globally, the effects of pollution on skin is a growing concern. Chronic exposure to air pollution has been correlated with visible aging—in particular, the development of pigment spots. Researchers at Mary Kay developed a skincare formulation containing botanical extracts and vitamins B3 and C that is both suitable for sensitive skin
Jefferies to Hold Global Coronavirus Relief Charity Day Dedicated to the Memory of Peg Broadbent on May 27th26.5.2020 17:17:00 CEST | Press release
Jefferies confirmed today that it will hold a Global Coronavirus Relief Charity Day tomorrow, Wednesday, May 27, 2020. The firm and its staff will contribute to global charities and relief efforts to assist those suffering from the devastation caused by the Coronavirus global pandemic and will offer investors around the world the opportunity to join these efforts by trading with Jefferies. Jefferies will dedicate this entire effort to their late CFO Peg Broadbent, who was a victim of this terrible disease. As previously announced, Jefferies will donate net commissions from trading on May 27 for all global trading in equities, fixed income and foreign exchange by the firm’s clients. In addition, Jefferies as a firm will donate $1 million directly, and all 3,822 employees worldwide will be given the opportunity to donate to these efforts. These contributions will be allocated to a series of charities on the front lines in fighting this ongoing global pandemic and providing urgently neede
New Automated Optical Inspection from Nordson EFD Verifies Fluid Deposit Placement and Accuracy26.5.2020 16:26:00 CEST | Press release
Nordson EFD, a Nordson company (NASDAQ: NDSN), the world’s leading precision fluid dispensing systems manufacturer, introduces OptiSure™ Automated Optical Inspection (AOI) software and confocal laser as add-ons to its existing vision-guided dispensing robots. OptiSure AOI add-ons provide optical assurance of fluid deposit accuracy and integrate seamlessly with Nordson EFD’s proprietary DispenseMotion™ software. Using robots’ existing vision systems to verify fluid deposit widths and diameters, the AOI software determines if dispense requirements have been met. Constant closed-loop feedback provides automated quality control (QC) data, saving manufacturers time and cost. “Optical assurance of fluid deposit accuracy in an off-the-shelf solution is a game changer for our customers,” said Johnathan Titone, global product line manager for automated dispensing systems, Nordson EFD. “We saw a need in the market to integrate automated dispensing and AOI and we’re pleased to provide a market-le
LTI Wins 2020 SAP® Pinnacle Award as the Industry Innovation Partner of the Year26.5.2020 16:13:00 CEST | Press release
Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company, has won the 2020 SAP® Pinnacle Award as the Industry Innovation Partner of the Year. This award recognizes LTI’s contribution to delivering best-in-class industry solutions that complement the industry portfolio from SAP. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200526005562/en/ LTI has a long-term relationship with SAP, spanning over 20 years, and is uniquely positioned as a partner, co-Innovator and customer. LTI is a Global Strategic Services Partner, and this partnership enables its participation in the SAP S/4HANA® Movement program to promote and accelerate adoption of SAP S/4HANA. In addition, this partnership enables LTI to work closely with SAP’s industry teams to deliver transformational industry specific solutions such as its Intelligent Construction Enterprise. With its deep industry expertise
Rockwell Automation Issues 2019 Corporate Responsibility Report and Launches New Online Hub for Corporate Responsibility and Sustainability Content26.5.2020 16:00:00 CEST | Press release
Rockwell Automation, Inc. (NYSE: ROK), today announced the launch of the annual Corporate Responsibility Report (CRR), highlighting the company’s efforts during 2019. The CRR reflects Rockwell Automation’s commitment to placing corporate responsibility and sustainability practices at the core of its approach to customers, employees, and communities. A global industrial automation and digital transformation leader, Rockwell Automation aims to be a principal voice in the corporate responsibility and sustainability space. The 2019 CRR highlights the company’s successful initiatives to continue to build a more inclusive workplace for employees; help customers reduce emissions and waste; and be a catalyst for progress in local communities. In conjunction with the publication of the 2019 CRR, Rockwell Automation today launched a new corporate responsibility content hub. Rockwell Automation’s corporate responsibility content hub will feature new stories and updates on its corporate responsibi