Pluriomics raises €4M in a Series A round to accelerate growth of the company
Leiden, the Netherlands, Gosselies, Belgium, October 15, 2014 – Pluriomics announces today that it has raised €4 million in a Series A round led by Vesalius Biocapital (VBC) with additional financing from InnovationQuarter and Société régionale d’Investissement de Wallonie (SRIW). The funds will be used to further develop Pluriomics’ innovative stem cell derived cardiomyocytes and assays and to commercialize these technologies. Pluriomics will strengthen its R&D and commercial team in Leiden while setting-up a production facility in Gosselies, thereby leveraging the expertise available in South Holland and Wallonia.
Pluriomics is ready to launch its Pluricyte cardiomyocytes, the next generation human cardiac muscle cells for use in drug discovery & development. Pluricyte cell based assays will be used to detect potentially toxic side-effects of new medicines early in development with great accuracy. These tests provide a unique, novel platform bridging traditional laboratory tests and clinical testing in patients. “Showing close resemblance to human heart cells, these tests using human cells have the potential to accelerate therapeutic drug discovery, lower the expenses of development, and in addition, reduce the need for laboratory animals” explains co-founder and Chief Scientific Officer of Pluriomics, Stefan Braam.
Herman Spolders, co-founder and Chief Executive Officer of Pluriomics, acknowledges that these resources arrive at a strategically important moment: “Pharmaceutical companies are increasingly interested in stem cell derived cardiomyocyte assays driven by the prospect of more efficient drug development and the regulatory push to incorporate this technology in the next drug development guidelines”.
“InnovationQuarter is very pleased to invest in a South Holland biotechnology company with products which are close to commercialization” says Gerty Holla, investment manager at InnovationQuarter. Francis Griep-Quint, Head of Investments at InnovationQuarter adds: “This investment enables growth and internationalization of the company through expansion of its R&D and commercial activities”
“We are very happy to welcome Pluriomics into our portfolio”.says Philippe Degive, investment manager at SRIW. “We wish the company great success and we will support the implementation of its manufacturing activity in Gosselies, in the heart of the cell therapy cluster in Wallonia”.
Alain Parthoens managing partner of VBC states “There is a real need for innovation to reduce attrition rates in the pharmaceutical drug development process and Pluriomics’ technology can be of great contribution towards that goal”.
Pluriomics is an emerging biotechnology company whose mission is to deliver innovative human cardiomyocyte models for use in drug discovery & development. Pluriomics ambition is to implement its cardiomyocyte models at various stages of drug discovery to improve decision-making, reduce attrition rates and provide an alternative for animal testing. Pluriomics, with offices in Leiden, The Netherlands and production facilities in Gosselies, Belgium was founded in 2010. Its Pluricyte cardiomyocyte models are derived from induced pluripotent stem cells and based upon patented technologies. For more information, please visit www.pluriomics.com
About Vesalius biocapital
Vesalius Biocapital invests in companies active in human health through venture capital funds raised since 2007. It has contributed to developing twenty companies since inception. Vesalius Biocapital Partners plays the role of lead investor in the large majority of its financing rounds. Vesalius Biocapital companies are based in Europe allowing easy interaction with management. Investments are in all stages of development and do not shy away from relatively early-stage projects with a sound proprietary technology and corresponding IP, unique team skills and a clear competitive edge based on solid data. For more information, please visit www.vesaliusbiocapital.com
InnovationQuarter is the regional development agency for the Province of South Holland. InnovationQuarter funds innovative and fast growing companies, assist foreign companies and organizes cooperation between innovative entrepreneurs, knowledge institutions and government. Our aim is to transform South Holland into one of Europe’s most innovative regions.
The SRIW Group is a key player at the heart of the economy of Wallonia (the Walloon region of Belgium).
SRIW (Société Régionale d’Investissement de Wallonie/ the Wallonia Regional Investment Company) provides finance within and outside Belgium for businesses undertaking industrial projects or providing services that generate added value. For the last 30 years, the company has in this way been facilitating the region’s economic development, contributing effectively and in real terms to the modernization, growth and restructuring of the businesses that make up our industrial fabric.