VECT-HORUS Raises 3.5 M€ to Accelerate Its Development Programs
MARSEILLE, France, June 7, 2018 /PRNewswire/ --
VECT-HORUS, a biotechnology company that designs and develops vectors facilitating targeting of therapeutic molecules and imaging agents, announces completion of a new fund-raising round for 3.5 million euros, following a previous round of 2.5 million euros in 2017. In this new round participated historic shareholders and also new entrants including CAAP Création, a subsidiary of Crédit Agricole Alpes Provence, Financière Tuileries Co-Invest and SCR Provençale et Corse, subsidiary of Banque Populaire Méditerranée (BPM). In total, VECT-HORUS has raised more than 22 M€ since its inception, including 8 M€ in public research grants and research tax credits.
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The proceeds of this new fund-raising will enable the company to intensify its investments in the optimization of its VECTrans®platform, to develop new molecules, particularly in the field of imaging and radiotherapy (theranostics) and forge new strategic partnerships with pharmaceutical companies.
Strengthening its investor group grants the Company significant financial resources to carry out its research and development programs. In addition, several collaboration agreements have been signed or are being negotiated with pharmaceutical partners. The Company aims to balance its R&D programs with an increasing flow of revenues from these industrial partnerships.
Damien AILLERET, Director of Corporate, Institutional and Private Banking at Crédit Agricole Alpes Provence declares "We are pleased to support VECT-HORUS in this decisive step to bring to market technologies from our territory rich in innovations in the field of health."
"We are delighted to welcome new private investors alongside our historical investors. The success of this fundraising reflects the confidence of our shareholders and validates our strategic choices as well as the future development plan of our company" says Alexandre TOKAY, President of VECT-HORUS.
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