Ermium Therapeutics completes Series A funding of €6.3 million to develop breakthrough auto-immune therapeutics
Paris, France, September 11th 2019 - Ermium Therapeutics a Paris-based biotech company developing innovative health products for auto-immune and inflammatory diseases announced today a series A funding of €6.3 M with Domain Therapeutics, Kurma Partners, Idinvest, and the SATT Erganeo.
The company is based on the recently published, breakthrough discovery of Dr Jean-Philippe HERBEUVAL’s team at CNRS and University Paris Descartes. They found that the well-known G protein-coupled receptor (GPCR) chemokine receptor, CXCR4, acts as a master regulator of inflammation via a novel mechanism of action. Erganeo provided initial funding to generate the first chemical series, opening the door to the discovery of a brand-new class of drugs to be developed by Ermium.
The €6.3 M proceeds will support the optimization efforts of Ermium’s proprietary chemical series and the early development of orally available drug candidates for a wide range of auto-immune diseases affecting millions of people worldwide.
Ermium shareholders bring together complementary expertise from Kurma Partners and Idinvest, two early-stage biotech European investors and Domain Therapeutics, a biopharmaceutical company specialized in GPCR drug discovery.
“Founding Ermium with such set of renowned partners is a thrilling experience and a great achievement for an academic group,” said Dr Jean-Philippe HERBEUVAL, the scientific cofounder of Ermium Therapeutics at CNRS. “I look forward to contributing to the development of this program with experts in drug discovery.”
“Ermium assets are at the forefront of innovation and our investors bring valuable expertise which will be instrumental in allowing us to develop a first in class drug candidate with a great potential in terms of auto-immune disease control”, said Joël CROUZET, CEO of Ermium Therapeutics.
“Ermium Therapeutics is developing first-in-class CXCR4 biased agonists and we are eager to bring our expertise in the GPCR area to such promising therapeutics”, added Pascal NEUVILLE, CEO of Domain Therapeutics.
“Kurma creates companies based on breakthrough science and innovative approaches for critical medical needs. We use a robust and validated model of early collaboration with industry specialists. Ermium fits precisely with that model through the access to Jean-Philippe HERBEUVAL’s science and Domain Therapeutics’ unique expertise in precise GPCR modulation”, said Thierry LAUGEL, Managing Partner of Kurma Partners.
“We are very pleased to have contributed to turn an outstanding academic project into a promising industrial asset”, concluded Suat TOPSU President of Erganeo.
About Ermium Therapeutics
Ermium Therapeutics was founded in June 2019 by Jean-Philippe HERBEUVAL, Kurma Partners, Domain Therapeutics and the SATT Erganeo. The company is based in Paris and has signed a worldwide exclusive license agreement on intellectual property from CNRS and University Paris Descartes (France) through an agreement with Erganeo. In addition, Ermium Therapeutics won the innovation i-Lab 2019 award from the French Ministry of Research and Higher Education. www.ermium.com
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 molecules, 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, cancer and rare diseases. These asset-centric companies attract investment for focused development and exit is through a trade sale at an appropriate inflection point. www.domaintherapeutics.com
About Kurma Partners
Founded in July 2009, Kurma Partners is a key European player in the financing of Innovation in Healthcare and Biotechnology, from pre-seed to growth capital, notably through Kurma Biofund I through III and Kurma Diagnostics, as well as via strategic partnerships with prestigious European research and medical institutions. www.kurmapartners.com
Idinvest Partners is a leading European mid-market private equity firm. With €8bn under management, the firm has developed several areas of expertise including innovative startup venture capital transactions; mid-market private debt, i.e. single-tranche, senior and subordinated debt; primary and secondary investment and private equity advisory services. Founded in 1997, Idinvest Partners used to belong to the Allianz Group until 2010, when it branched out as an independent firm. In January 2018, Idinvest Partners became a subsidiary of Eurazeo, a leading global investment company, with a diversified portfolio of €17bn in assets under management, including approximately €11bn from investment partners, invested in over 350 companies. www.idinvest.com
Erganeo is a French investment company specializing in disruptive innovations with a positive impact on our society. Her mission is to accelerate and simplify the associations between Public Research and the industrial world to support an ethical and sustainable progress.www.erganeo.com
Joël Crouzet, PhD, CEO
Ulysse Communications – Press Relations
Tel: +33 (0) 6 87 88 47 26