The French company Acticor Biotech has raised a new portion of funding in the amount of €7 mio through a Russian venture fund, Primer Capital.
The funds raised will be used to expand the clinical stage biotechnology company’s Phase II trial with its candidate, ACT017, in the US.
ACT017 is a unique candidate for acute ischemic stroke on the pharmaceutical market and can be used either independently or as a complement to existing stroke therapies.
According to Primer Capital CEO Yelizaveta Rozhdestvenskaya, the Russian fund began to invest in this project back in 2018. When making the investment decision, the fund highlighted the project’s ambitious team, its innovative nature in its niche, and its clear market potential. According to Rozhdestvenskaya, over the past year, the project has demonstrated progress in research and succeeded in raising the next round of funding. This round is led by the independent capital fund Go Capital, with the project’s current investors, CapDecisif Management, Newton BioCapital and Anaxago, also participating.
According to Acticor Biotech CEO Gilles Avenard, “the additional capital will enable us to expand our ongoing Phase II in the United States.”
Along with raising a new round of investment, the French company acquired the diagnostic startup AVCare, financed by SATT Ouest Valorisation and Go Capital, which is developing a stroke blood biomarker. Due to the M&A deal, Acticor signed a sub-licensing agreement with SATT Ouest Valorisation, which gave worldwide rights to Acticor to develop and exploit the stroke biomarker.