French VC joins $13m round for Japanese biopharma player
France-based venture capital firm Seventure Partners has joined a $13.1 million funding round for Japanese biopharmaceuticals development company Anaeropharma Science.
Seventure is investing via its Health For Life Capital platform, which it describes as the first VC fund focused on the microbiome and nutrition space. Novartis Pharma and a number of Japanese investors also participated. Previous backers include Nagoya Small and Medium Business Investment & Consultation, Watervein Partners and Innovation Network Corporation of Japan, which invested $27.7 million in 2012.
"There is a huge market opportunity for novel treatments that harness the specific capabilities of microbiome-derived bacteria," Isabelle de Cremoux, CEO and managing partner at Seventure, said in a statement. "Science is developing a pioneering approach to the cancer therapy, which may powerfully complement other axes of modern oncology research."
Anaeropharma focuses on developing genetically enhanced bacteria to fight tumors and is currently trialing its lead treatment product on patients in the US. Previous work by the company has found that certain bacteria will accumulate around solid tumors when injected into mice.
Founded in 1997, Seventure is a subsidiary of Natixis Global Asset Management that specializes in life sciences and financial technology. It claimed more than EUR660 million ($748 million) in assets under management across Europe, North America and Asia as of the end of 2016.
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