LYON and ILLKIRCH-GRAFFENSTADEN, France, Nov. 3, 2015 (GLOBE NEWSWIRE) -- ElsaLys Biotech, a biopharmaceutical company dedicated to the development of "best-in-disease" therapeutic antibodies for oncology and ophthalmology, announces today that it has completed the first instalment of a € 5 million fundraising.
This first instalment of € 2.7 million was subscribed by Sofimac Partners, already a shareholder, and by IM Europe, a subsidiary of Institut Mérieux and Crédit Agricole Création.
This new funding allows ElsaLys Biotech to support the development of its antibodies, including its anti-CD160 developed for ophthalmology and oncology indications. With the completion of a toxicology study, the anti-CD160 programme for ophthalmology would thus reach an important milestone in its preclinical evaluation. This funding will also allow its two other antibodies developed for oncology - anti-CD160 and anti-TYRO3 - to reach preclinical proof of concept.
"We are extremely pleased with the renewed support of Sofimac Partners and the participation to our capital of IM Europe and Crédit Agricole Création as part of this first instalment of this € 5 million fundraising," said Dr Christine GUILLEN, CEO and co-founder of ElsaLys Biotech. She added: "With IM Europe becoming one of our shareholders, Institut Mérieux provides us with its industrial experience and global vision in the field of health. This complements our other shareholders and will be a major asset to the company. We can thus initiate the second phase of development of ElsaLys Biotech in the best conditions".
François Miceli, representing Sofimac Partners to the ElsaLys Biotech Board of Directors stated: "We are proud of what ElsaLys Biotech has achieved since its inception. The corporate mission statement has strengthened, the pipeline has enriched and ElsaLys has kept its promises about its responsiveness to choose the best programmes to develop. We are also delighted to be joined by IM Europe and our longstanding partner, Crédit Agricole Création".
About ElsaLys Biotech
ElsaLys Biotech is a biopharmaceutical company that designs and develops innovative therapeutic antibodies in oncology and ophthalmology. These "best-in-disease" antibodies aim for innovative targets involved in cellular events at the core of the pathological process: immune response, angiogenesis, survival, proliferation, adhesion and migration.
To drive these innovations, ElsaLys Biotech relies on an academic network of international standing, an R&D platform that covers validation of targets in the clinical evaluation of antibody candidates and a team of experts dedicated to developing immune-based therapies.
The company has already signed licensing option and / or collaboration agreements (Institut Curie, IGBMC-ICS, Inserm, Centre Léon Bérard, CNRS) and maturation agreements (SATT Conectus, SATT SE), and has acquired a first strategic asset. Two years after its foundation, the Company hosts three proprietary antibodies and four development programmes.
Founded in 2013 with the support of Transgene and Sofimac Partners and led by Dr Christine GUILLEN, ElsaLys Biotech consists of a team of nine people. Its head office is located in the centre of the Lyon Gerland bio-district and its laboratories are based in the Illkirch Graffenstaden Science and Technology Park.