TargEDys, a France-based developer of solutions to regulate appetite, raises €5.8M in Series A
TargEDys, an innovator in appetite regulation, has announced a € 5.8M “Series A” fundraising round based on world-leading research from company founders Serguei Fetissov and Pierre Déchelotte, from the UMR INSERM 1073 in the Faculty of Medicine and Pharmacy of Rouen. TargEDys uses those scientific discoveries to develop functional food, medical food and pharmaceutical products to harness the microbiome’s ability to regulate appetite and thus maintain or restore metabolic health.
Grégory Lambert, CEO of TargEDys, says: “This is the outcome of a 10-year research project . At a time when we just realize the importance of the microbiome and investigate about its impact on health, this really is a major step forward in the field, which opens radically new perspectives for the regulation of appetite”.
This round of financing brings together an international syndicate which includes Seventure Partners, a world leader in microbiome investments, Pontifax, a highly successful life sciences investor from Israel, and NCI, a regional fund manager stimulating innovation in Normandy, France.
Isabelle de Crémoux, President and CEO at Seventure Partners adds: “The seminal discoveries from Fetissov and Déchelotte have brought to light the first clear molecular mechanism in the emerging field of ‘gut-brain axis‘, with immediate applications in metabolic disease. Seventure played a key advisory role in the company’s recent development and is proud to lead this financing round.”
Tomer Kariv, CEO of Pontifax, indicates: “This is a brand new research axis, with the perspective of a positive risk/benefit ratio in pathologies where prior pharmacological approaches had resulted in low efficacy and real safety concerns.”
“This confirms, more than ever, that France is at the forefront of research on human microbiome. In Normandy, there are several teams of high-level researchers in different fields and TargEDys is one of them. As a regional investor, NCI is eager to support such a large project” says Laurie Périé, NCI.
Serguei Fetissov and Pierre Déchelotte have been working together since 2005 at the UMR INSERM 1073 «Nutrition, inflammation and dysfunction of the gut-brain axis» in relation with the university hospital of Rouen. The funds will allow the two scientists to step up their research efforts. In that purpose, TargEDys will join soon the premises of the Faculty of Medicine/Pharmacy of Rouen and hire additional staff – mainly doctors and engineers.
As explained by Pierre Déchelotte: “Beyond a simple change of the microbiome, as is the case for a usual probiotic, we are working on the mobilization of a new class of natural therapeutic solutions.” Serguei Fetissov comments: “We are very proud of this commitment. We now intend to use our discoveries to enhance the quality of life of many people.”
TargEDys opens major perspectives for human health
TargEDys’ approaches aim to correct dysfunctions of eating behaviour and limit their consequences. Benefits will be health improvement and a better quality of life for a growing number of affected people.
The first product will target overweight people. In 2014, 1.4 billion people were suffering from being overweight or obese (WHO). This number is forecasted to grow, and in 2018, in countries such as United States, Mexico or Venezuela, the proportion of overweight people will reach 75% of the population (Euromonitor 2014).
The second product will increase appetite in elderly, cachexic and anorexic patients. Elderly people are particularly concerned by malnutrition. This phenomenon affects 4 to 10% of those who stay at home and reaches 30 to 70% of those who are hospitalized. Malnutrition, frequently coming from lack of appetite, has serious consequences: weakening of the immune system, loss of weight and an overall decline in general health that can lead to early death.
TargEDys is an innovative start-up whose activity is based on world-leading research from company founders Serguei Fetissov and Pierre Déchelotte, who have identified and described the first molecular link of the gut-brain axis: proteins from gut bacteria were found to be ‘molecular mimetics’ of peptide hormones involved in the regulation of eating behaviour in the brain and peripheral organs.
TargEDys is dedicated to the modulation of appetite and develops functional food, medical food and pharmaceutical products to harness the microbiome’s ability to regulate appetite and thus maintain or restore weight and metabolic health.
Its products target high appetite leading to overweight, and low appetite leading to malnourishment in elderly people, cachexia and anorexia.
The company, which is registered in Rouen, France, was incorporated in 2011 by an international group of medical science professionals from France, USA, Sweden, Japan, Brazil and Germany. Today, the operational team consists of a synergic team combining scientific, medical, pharmaceutical development and business expertise: Grégory Lambert (CEO), Serguei Fetissov (scientific referent) and Pierre Déchelotte (chairman of the Board and medical referent).
For more details: http://www.targedys.com
With over €600M in assets under management as of the end of 2015, Seventure Partners is a leading venture capital firm in Europe. Since 1997, Seventure Partners has invested in innovative businesses with high growth potential in digital technologies and in the life sciences field. In life sciences, the four areas of focus include biotechnology and pharmaceuticals, connected health and medtech, industrial biotechnology, and last but not least: the microbiome, nutrition, foodtech and personalized medicine.
Investments can range between €500k and €10M per round, or up to €20M per company, from early to late stage. In December 2013, Seventure Partners successfully launched Health for Life Capital TM which has attracted strategic investments up to €160M from prestigious organizations including Danone, Tereos, Tournier, Lesaffre, Bel and Novartis as well as entrepreneurs and financial institutions.
Seventure is a subsidiary of Natixis Global Asset Management. Natixis is the corporate investment management and financial services arm of Groupe BPCE, the second-largest French bank.
For more details: http://www.seventure.fr
Pontifax is a venture capital firm focusing on groundbreaking innovations in the life sciences arena. Founded in 2004 and with $350M under management, Pontifax seeks transformative, innovative healthcare opportunities at all development stages.
For more details: http://www.pontifax.com
Created by the Conseil Régional de Haute-Normandie, CDC and Caisse d’Epargne Normandie, NCI is a major capital investor in Normandy. NCI invests skilled resources and equity capital in the creation, the development and the transfer of regional companies.
With a double-digit growth track record, and €180M in managed assets (entrusted by public and private institutional investors), NCI conciliates finance and economic development in Normandy. For more details: http://www.n-ci.com
Source: TargEDys Press Release