|janUARY 17, 2018|
HalioDx closed a Series B round of €18.5 million (US$22.3 million)
- This funding will accelerate the development of Immunoscore® in selected cancers, and support set up of commercial activities in the US
- This round was led by PSIM fund managed by Bpifrance in the framework of the program 'Investing for the Future'
Marseille, France, January 17, 2018 - HalioDx, a diagnostic company expert in the analysis of the tumor microenvironment, announces today the closing of a 18.5 million euros Series B financing after a Series A round of 8 M€ in March 2015. The new investment funds are PSIM fund managed by Bpifrance in the framework of the program 'Investing for the Future', Quest for Growth managed by Capricorn venture Partners and Amundi Private Equity Funds, joined by the company's historical investors: MI Care S.A., Sham Innovation Santé/Turenne, BNP Paribas Development and Sofipaca.
This fundraising is intended to accelerate the development of Immunoscore® for colon cancer and selected additional cancer types and set up commercial activities in the US. Immunoscore® is a breakthrough diagnostic platform based on the analysis of the tumor microenvironment combining immunohistochemistry and advanced digital pathology to guide oncologists in optimizing the management of their patients. In colon cancer, the company has already accumulated a strong body of clinical evidence in predicting individual risk of recurrence and is progressing toward reimbursement decisions for Immunoscore® in several countries.
In parallel, the company developed a significant immune biomarker partnering program with Biopharma to assess the predictive value of Immunoscore® and other proprietary assays, notably Immunosign® and Halioseek®. These studies are conducted in the context of various therapeutic modalities and in multiple indications, including companion diagnostics approaches for specific immunotherapies.
"We are conducting an ambitious plan to develop our unique portfolio of diagnostic solutions to contribute to precision medicine. In the past 2 years, HalioDx has been delivering data and diagnostic solutions beyond its own plans. This Series B financing will enable us to execute our plans faster & enter efficiently the US market. I am looking forward to see Immunoscore® development in oncologists' routine practice to manage prescriptions across multiple cancer indications" comments Vincent Fert, CEO of HalioDx.
Olivier Martinez, Senior Investment Director, Life Sciences, Bpifrance, adds: "We are delighted to support HalioDx at a crucial time for the company by mobilizing our PSIM fund reserved for winners of the World Wide Innovation Challenge. Based on the clinical results already achieved with Immunoscore®, the perspectives for other diagnostic solutions under development, and the strong experience and ambition of its management team, we are convinced that HalioDx has the potential to become a leading company in the field of precision medicine applied to cancer immunotherapy."
The Immune Response to Cancer Diagnostics
HalioDx is an immuno-oncology diagnostic company providing oncologists with first-in-class Immune-based diagnostic products and services to guide cancer care and contribute to precision medicine in the era of immuno-oncology and combination therapies.
Immunoscore® proprietary technology, pioneered by Dr Jérôme GALON at the Cordeliers Research Center, Paris, France, integrates immunohistochemistry combined with advanced imaging analysis enabling extraction of spatially-organized tissue molecular information. Immunoscore® is a diagnostic solution for many cancers, as immune response to tumor is a key hallmark of disease progression. HalioDx collaborates with renowned international clinical groups to support clinical utility and ensure rigorous performance validation of its assays in selected cancer indications. HalioDx also develops assays such as Halioseek® and Immunosign® to help stratifying patients for immunotherapies.
HalioDx has an experienced team of more than 130 employees, a CLIA laboratory and compliant facilities to develop, manufacture, register and market in vitro diagnostic (IVD) products. HalioDx executes biomarker studies and companion diagnostic assay development in conformity with regulations and in partnership with biopharmaceutical companies. Based in Marseille, France, the company co-founded the European immunology cluster Marseille Immunopôle (MI).
Find out about the 'Investments for the Future'
http://www.gouvernement.fr/secretariat-general-pour-l-investissement-sgpi Twitter : @SGPI_avenir
Bpifrance, a subsidiary of the French state and the Caisse des Dépôts and the entrepreneurs' trusted partner, finances businesses from the seed phase to IPO, through loans, guarantees and equity investments. Bpifrance also provides operational services and strong support for innovation, export, and external growth in partnership with Business France.
With its 48 regional offices, businesses benefit from a powerful, efficient and close representative, to answer all their needs in terms of financing, innovation and investment.
About QUEST FOR GROWTH
QUEST FOR GROWTH, is a privak/pricaf, a public alternative investment fund (AIF) with fixed capital under Belgian law, managed by Capricorn Venture Partners NV. The diversified portfolio of Quest for Growth is for the most part invested in growth companies listed on European stock exchanges, in European unquoted companies and in venture capital funds. Quest for Growth focuses on innovative companies in areas such as information and communication technology (ICT), technologies for the healthcare sector (Health-tech) and clean technology (Cleantech). Quest for Growth has been listed on Euronext Brussels since 23 September 1998.
About Amundi Private Equity Funds
With more than €7 billion in assets under management (at 30 September 2017), Amundi Private Equity Funds offers its retail and institutional clients a wide range of products tailored to their needs. Clients can invest in two types of products: direct funds dedicated to acquiring direct holdings in non-listed companies (in development and transfer phases), and funds of funds dedicated to investing in private equity, private debt and infrastructure funds. Amundi PEF supports companies in development and transmission stages. Amundi PEF is an authorized management company fully-owned by Amundi.
More information: www.amundi-pef.com
About MI Care S.A.
MICare is an investment holding specialized in health care. It follows Matignon Technologies 1 and 2, two funds which have supported for 11 years the current HalioDx leadership team in their previous responsibility as Ipsogen management team.
About Sham Innovation Santé
Launched in July 2014, Sham Innovation Santé is an evergreen Venture Capital Fund controlled and owned by Sham, a french mutual insurance company specialising in insurance and risk management for professionals in the health, social and social-medical sectors and a French leader in civil liability (11,000 members in Europe - France, Italy, Spain, Germany -, € 2 billion in assets under management, 923 employees, revenues of € 316.8 million in 2016)
Advised and managed by Turenne Capital, Sham Innovation Santé invests into biotech and medtech companies that are developing breakthrough technologies in the medical and biotechnology fields. The portfolio - 12 companies - is being gradually built up by new investments in the healthcare and life sciences field, with a target of € 50 million.
About BNP Paribas Développement
BNP Paribas Développement, present in France for over 20 years, is a wholly-owned subsidiary of BNP Paribas Group dedicated to Private Equity. The company has more than 26 investors all across the country and its portfolio encompasses around 380 stakes with 850 M€ assets under management.
BNP Paribas Développement aims at accompanying mid-sized companies in a long term horizon investing in equity and convertible bonds. The company only takes minority stakes from 1 M€ to 15 M€ (LBO, LBI, Growth Capital, Spin-off.) in non-listed companies that are resiliently profitable, making BNP Paribas Développement one of the main references in the French Private Equity market.
Sofipaca is the private equity branch of Crédit Agricole Alpes-Provence and Provence Côte d'Azur. Since its creation in 1984, Sofipaca supports Provence-Alpes-Côte d'Azur based businesses in their capital development and capital transmission projects. A long-term investor and minority shareholder, Sofipaca can support companies with different development profiles, and provides strategic input without interfering with operational management.
More information: https://www.linkedin.com/company/sofipaca/
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