TreeFrog Therapeutics, a biotech startup in France, has raised $ 75 million in investor funding in a Series B round. The French Public Investment Bank’s venture capital division led the round.
$ 83 million in financing
TreeFrog Therapeutics has raised a total of $ 83 million in investor funding. With the increased funding, the startup has opened a subsidiary in the United States (US). Notable investors in the startup include Leonard Green & Partners, Xange, and pharmaceutical company Bristol Myers Squibb. The startup business was founded in November 2018 in Bordeaux, France. Additionally, the biotech company plans to begin its first human trials in 2024.
“Starting in 2019, TreeFrog Therapeutics had innovative technology and a clear industrial vision to bring cell therapy to everyone. We are confident that TreeFrog is going to drive a paradigm shift in cell therapy as it becomes one more player. integrated with an impact at every stage of the value chain, “said Guilhem de Vregille, partner at Xange. Based in Paris and Munich, Xange typically invests between € 1 million ($ 1.18 million) and € 10 million ($ 11.8 million) on the first check. Other biotech and health-related investments in Xange’s portfolio include Mdoloris Medical Systems and Synapse Medicine. Guilhem de Vregille has also joined the TreeFrog Therapeutics board of directors.
In addition to supporting venture capital investors, the startup has received financial support from a research grant from the European Union.
Stem cell manufacturing
Stem cell production scaling up is at the core of TreeFrog Therapeutics’ business model. The company mass-produces stem cells through the use of capsules. These capsules protect cells from being damaged during the production process. In business terms, TreeFrog Therapeutics aims to reduce the cost of stem cell production. The portfolio of biotech startups includes four potential products, including one product that can treat Parkinson’s disease. According to the Parkinson’s Foundation, 10 million people live with Parkinson’s disease worldwide, and surgeries can cost up to $ 100,000.
Cost reduction is essential due to the high costs involved in this type of treatment. An estimate by Dr. Antonio Rozier, a physician in Texas, found that a single stem cell injection can cost between $ 1,000 and $ 6,000. According to Emergen Research, the stem cell therapy market is projected to grow to $ 5 billion in value by 2028. The stem cell business sector is primarily focused on finding cures for diseases such as Parkinson’s, Alzheimer’s and diabetes. .
Startup Leadership Team
TreeFrog Therapeutics’ executive team includes a mix of scientists with advanced degrees and business leaders. Frédéric Desdouits, who has a PhD in biochemistry and neuropharmacology, was appointed CEO of the company earlier this year. Kévin Alessandri, co-founder of the company, has a PhD in physics and runs the company in the United States. On the business side, Pascale Berthet leads business development with prior experience for PerkinElmer, Fujifilm Healthcare and Pall Life Sciences.
Although the company is years away from launching its first product, it actively participates in events. The company attended JP Morgan’s annual healthcare conference. In addition, the company also actively participates in health care events in Japan and Europe, such as the Congress of the Japanese Society for Regenerative Medicine.
