16 Jan '18
Primer Capital, a Russian venture fund, has invested in a novel French drug candidate for cerebral infarction therapy, a spokesperson for the fund told Marchmont News earlier today. The solution designated ACT017 has been developed by a French company called Acticor Biotech.
In a ˆ3.9m funding round, Primer Capital co-invested in a consortium with an unspecified number of other VC funds and angel investors, as well as entities that provided grant financing, the spokesperson explained. Now the Russian VC fund has a seat on Acticor Biotech’s Supervisory Board.
The ACT017 is expected to be commercialized as both an alternative to existing therapeutic methods and a powerful enhancement to these.
The current funding round will cover phase I of a series of clinical trials for the drug candidate, and is also expected to help set the stage for phase II of more advanced research, Primer Capital said.
As many as 20 million new cerebral infarction cases are reported globally each year. According to the World Health Organization (WHO), the incidence of the disease makes it the second deadliest natural killer in the world after myocardial infarction and the one responsible for the majority of primary disabilities among adults. The modern cerebral infarction therapies all have limitations and contraindications, thus leaving about 90% of cerebral infarction patients beyond reach of any rapid help.