Gif-sur-Yvette (France), February 28th, 2006 - CYTOMICS SYSTEMS, a biopharmaceutical company focused on the discovery of small molecules that control the degradation of proteins, announced today that it has raised € 10 million (USD 11,9 million) in a 2nd round of financing from a group of investors led by Edmond de Rothschild Investment Partners and Truffle Venture. Société Générale Asset Management Alternative Investments (SGAM AI), investor of the Company since 2003, also supported this financing round. Aelios Finance acted as financial advisor on behalf of the Company.
This round will enable the company to accelerate the development of its most advanced antifungal compounds – which recently generated positive preclinical results. CYTOMICS SYSTEMS will also initiate preclinical studies in a second program based on compounds that inhibit the in-vitro proliferation of human cancer cells. These molecules represent a new generation of proteasome inhibitors for the development of new therapies against cancer.
Following this fund raising, CYTOMICS SYSTEMS is pleased to announce the appointment of Dr John J. THEBAULT to the newly created position of Director of Clinical Research. Dr THEBAULT contributes extensive international experience as the founder and manager for over 20 years of Aster Cephac, a leading European CRO specialised in early-stage clinical studies.
Leveraging research conducted at CNRS, CYTOMICS SYSTEMS is utilizing UbiScreen®, a proprietary cell-based high-throughput screening technology to discover drugs controlling protein turnover by the Ubiquitin Proteasome pathway. This pathway is involved in many diseases such as cancer, fungal infections, inflammatory and neurodegenerative diseases.
Dominique THOMAS, CEO of CYTOMICS SYSTEMS said: « We are delighted to welcome a syndicate of leading investors. This confirms the superior potential of the Company and validates the financial support of SGAM AI since the first round in 2003. CYTOMICS SYSTEMS is now in a position to achieve major milestones in the promising field of hospitalacquired fungal infections and to establish itself in the field of oncology where we believe we can deliver significant therapeutic advances ».
Gilles NOBECOURT, Life Sciences Partner at Edmond de Rothschild Investment Partners, commented: « Thanks to the solid knowledge accumulated by the Company in the field of the Ubitquitine-Proteasome, its innovative cell-based screening platform and a rigorous approach we are convinced their expertise has significant chances to lead to novel therapeutics addressing unmet medical needs ».
Dr Philippe POULETTY, General Partner Biotech at Truffle Venture added: « CYTOMICS has a uniques profile for an early-stage company encompassing: an innovative technology, a promising product under development addressing a major medical indication, and an experienced management team. The main goal of the Company will be to make the clinical development of its first drug a success».
As a result of this second-round financing, Dr. THEBAULT is appointed President of the Supervisory Board. Dr Phillipe POULETTY will act as its Vice-President. Dr Béatrice LLIRBAT (SGAM AI), Dr Denis GAUVREAU and Gilles NOBECOURT complete the Supervisory Board.
About Edmond de Rothschild Investment Partners Edmond de Rothschild Investment Partners manages over € 500 million dedicated to venture capital and capital growth investments. The investment team is made up of 9 professionals based in Paris. Edmond de Rothschild Investment Partners manages FCPR and FCPI capital growth and life science venture funds.
About Truffle Venture Founded in 2002 and based in Paris, Truffle Venture is an independent venture capital firm managing several funds (Truffle Venture FCPR, Europe Innovation and UFF5 FCPIs) focusing on technology spin-offs, IT, healthcare, biotech and energy businesses throughout Europe. Truffle Venture also manages the Longchamp fund through a partnership with Merril Lynch. Truffle Venture currently manages over € 200 million of assets.
About SGAM Alternative Investments With € 36 billion in assets under management on 31 December 2005, 268 employees worldwide and the strategic and financial backing of Société Générale Group, SGAM Alternative Investments, a wholly-owned subsidiary of Société Générale Asset Management, has become one of the leading global specialists in alternative investment. SGAM AI launched its private equity platform in 1999 and today offers a comprehensive range of funds with € 1.2 billion under management. Building on its Life Sciences expertise the “Bioconvergence” team manages an international portfolio of 40 companies, representing investments worth € 125 million.
About Cytomics Systems Cytomics Systems, Gif-sur-Yvette, France, is a biopharmaceutical company pioneering the discovery and development of drugs that control the degradation of proteins, to treat major human diseases such as cancer and hospital-acquired fungal infections. The Company was founded by Dominique Thomas, PhD, Director of Research at the CNRS Center for Molecular Genetics, and internationally recognized for his work in the field of the
Ubiquitin-Proteasome pathway for protein degradation. The Company has developed an innovative high-throughput screening technology, UbiScreen®, for the discovery of new therapeutic molecules controlling the degradation of target proteins. Cytomics has used this technology to target fungal hospital-acquired infections with compounds at the preclinical stage. Another drug development program in the field of oncology has led to the selection of very promising molecules.
The company is based in Gif-sur-Yvette (France) and has 15 employees. Professor Axel Khan heads its Scientific Advisory Board.
