Home » $60m Series A capital to finance and build disruptive European biotech companies

$60m Series A capital to finance and build disruptive European biotech companies

by Tech Reporter
18th May 21 9:06 am

eureKARE who are a pioneering new company focused on financing and building next generation biotechnology companies in the disruptive fields of the microbiome and synthetic biology, today announces its launch with a $60 million Series A financing. The financing was supported by high-net worth investors and family offices.

eureKARE is focused on two emerging and cutting-edge fields of research that have the potential to disrupt and revolutionize the life sciences industry: the microbiome and synthetic biology. Up to 90% of all diseases can be linked to the dysfunction and imbalance of the microbiome with the field forecast to reach $1.6 billion by 2028 at a CAGR of 21%.

Synthetic biology, which comprises gene and cell therapy and industrial applications such as data storage and bioproduction, has seen huge advances in recent years and is expected to have far-reaching implications on the life sciences and other industries and for patients. It is forecast to reach $57 billion by 2028 at a CAGR of 25% per year. Gene therapies alone already generate c.$4 billion revenues with huge potential in gene editing, siRNA, mRNA, and is forecast to reach c.$10 billion by 2028.

Europe’s scientists are at the forefront of microbiome and synthetic biology research due to the innovative work and thought leadership taking place at prestigious universities and research centers. eureKARE believes there is a tremendous opportunity to industrialize this translational research by building bridges between academia and industry.

Rodolphe Besserve, Chief Executive Officer of eureKARE, commented: “European science remains under exploited compared to countries like the US, with the gap between academia and big pharma widening over the years. eureKARE aims to build bridges between these two bodies to create and support new ventures. eureKARE has assembled an expert team and, together with our top-notch Scientific Advisory Board, we want to create a unique ecosystem of ideation and cross-fertilization of expertise to build successful companies.”

eureKARE has a two-step investment approach to deliver long-term value creation built around the two major inflection points in pharmaceutical development. The Company supports translational research by creating and financing new companies out of high value European science through its biotech start-up studios eureKABIOME (Microbiome) and eureKASYNBIO (Synthetic biology). These studios are designed to select and nurture high quality European science and create a unique ecosystem, putting resources and expertise behind scientists and concepts to create new companies. The Company also intends to invest in more mature biotech companies (Series B or after) and will systematically propose to offer some liquidity to early investors, thereby addressing a critical need in the European biotech field.

eureKARE will create 3-5 new ventures a year and invest in 3-5 existing companies. This perfect mix of early-stage ventures with high growth potential and more mature de-risked companies mitigates risk for shareholders.

eureKARE has a rapidly growing portfolio comprising three exciting ventures to date: Stellate Therapeutics in the gut-brain axis field, the XNA technology company Omne Possibile and NovoBiome, a discovery platform dedicated to the gut-liver axis.

“Each of these companies has the potential to offer disruptive solutions in its chosen domain. These are perfect examples of what eureKARE wants to do. Thinking outside the box is in our DNA. The rapid COVID-19 vaccine development has shown the power of human ingenuity and this model will be a core inspiration for us as we progress,” added Rodolphe Besserve.

eureKARE is guided by influential founder, Alexandre Mouradian, along with a pan-European team led by renowned biotech expert Rodolphe Besserve. eureKARE’s Scientific Advisory Board is composed of eight international leading lights in their respected knowledge base, who will support the company in all of its strategic and investment decisions.

Commenting on the launch, Alexandre Mouradian, Founder & Chairman of eureKARE, said: “Europe is at the forefront of microbiome and synthetic biology research and it is vital to find innovative new investment approaches to support the next wave of life science entrepreneurs. Through eureKARE’s pioneering approach, we are poised to identify, select and nurture the very best European science to create exciting new companies with the potential to disrupt and revolutionize the life sciences industry for the benefit of patients, while delivering shareholder value.”

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