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.”
About Seventure Partners
With €750m net commitments under management as of the end of 2018, Seventure Partners is a leading venture capital firm in Europe. Since 1997, Seventure Partners has been investing in innovative businesses with high growth potential in two fields: Life sciences across Europe, Israel, Asia and North America, and Digital technologies in France and North Europe. In Life sciences, the main areas of focus include “classic” approaches such as biotechnology and pharmaceuticals, diagnostic and medtech, industrial biotechnology, as well as “beyond the pill” approaches such as microbiome-linked innovations, nutrition, foodtech, digital/connected health and personalized medicine. Investments can range between €500k and €10m per round, or up to €20m per company, from early to late stage.
About Domain Therapeutics
Domain Therapeutics is a biopharmaceutical company dedicated to the discovery and early development of new drug candidates targeting transmembrane receptors, in particular G Protein-Coupled Receptors (GPCRs), one of the most important classes of drug targets. Domain identifies and develops candidates (allosteric modulators and biased ligands) through its innovative approach and technologies. Domain has three revenue-generating pillars to its innovative business model: 1) collaboration with pharma companies for the discovery of new drug candidates, 2) out-licensing of its bioSens-All™ technology and 3) creation of asset centric vehicles for the development of its internal pipeline of preclinical candidates for central nervous system disorders and cancer. These asset-centric companies attract investment for focused development and exit is through a trade sale at an appropriate inflection point. www.domaintherapeutics.com