Health

Fight against cancer: in a gloomy climate, Domain Therapeutics raises 39 million euros

Fight against cancer: in a gloomy climate, Domain Therapeutics raises 39 million euros
Written by madishthestylebar

Treefrog, DNA Script, Mnemo, Pixium, Dental Monitoring… After a year 2021 marked by several record fundraisings in the French biotech sector, investors have been more cautious in recent months. Backlash from the bulimia that took hold of the markets in the health sector during the crisis due to Covid-19? Excessive caution in the face of a tense global economic situation? Venture capitalists are more reluctant to loosen their purse strings.

An ambient gloom that extends to the entire health sector. On the side of the European stock exchanges, few companies have ventured to launch in the last five months. In France, biotech Aelis Farma is also one of the few to have tried its luck. The Bordelaise, which is developing a drug candidate against cannabis addiction, thus won 25 million euros when it was listed in February on Euronext Paris. More recently, Euroapi, the former subsidiary of Sanofi specializing in the manufacture of active ingredients, has also rubbed shoulders with the markets. Not without a few safeguards to guard against their volatility. The trend is visible even in the ranks of Big Pharma. Since January, acquisitions in the pharmaceutical industry sector have also taken a hit.

Read also French company Jeito Capital raises half a billion euros to support European biotechs

However, it is not the money that is lacking. Over the past year, funds dedicated to health start-ups have multiplied. Jeito Capital has thus built up a jackpot of more than half a billion euros to support European biotechs. Sofinnova, one of the veterans of the sector, has, for its part, collected 472 million euros. As for Lauxera Capital Partners, it succeeded in raising, for its first fund, more than 260 million euros. Well beyond its initial target of 150 million euros. Signs that appetite for the market remains strong, despite the slowdown in investment.

Reset the immune system

The cold of the investors did not completely seize the machine besides. In particular on the rise of young shoots in e-health, as evidenced by the performance of Doctolib, which became, in March, the most valued start-up in France, after its fundraising of 500 million euros. Or those, although more modest, of Resilience (40 million euros raised), Padoa (80 million euros) or Synapse Medicine (25 million euros). Medtech, these start-ups specializing in the development of medical devices, are not left out: Carmat collected 40.5 million euros in early April for its artificial heart; SafeHeal, 40 million for its implant, and DNA Script, 30 million for its DNA printer.

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