Series B round led by PSIM fund managed by Bpifrance in the framework of the program ‘Investing for the Future’
HalioDx, a diagnostic company expert in the analysis of the tumor microenvironment based in Marseille, announced on January 17th, 2018, the closing of an 18.5 million euros Series B financing after a Series A round of 8 M€ in March 2015. The new investment funds are PSIM fund managed by Bpifrance in the framework of the program ‘Investing for the Future’, Quest for Growth managed by Capricorn venture Partners and Amundi Private Equity Funds, joined by the company’s historical investors: MI Care S.A., Sham Innovation Santé/Turenne, BNP Paribas Development and Sofipaca. This funding will accelerate the development of Immunoscore® in selected cancers, and support set up of commercial activities in the US
This fundraising is intended to accelerate the development of Immunoscore® for colon cancer and selected additional cancer types and set up commercial activities in the US. Immunoscore® is a breakthrough diagnostic platform based on the analysis of the tumor microenvironment combining immunohistochemistry and advanced digital pathology to guide oncologists in optimizing the management of their patients. In colon cancer, the company has already accumulated a strong body of clinical evidence in predicting individual risk of recurrence and is progressing toward reimbursement decisions for Immunoscore® in several countries.
In parallel, the company developed a significant immune biomarker partnering program with Biopharma to assess the predictive value of Immunoscore® and other proprietary assays, notably Immunosign® and Halioseek®. These studies are conducted in the context of various therapeutic modalities and in multiple indications, including companion diagnostics approaches for specific immunotherapies.
A crucial time for the company
“We are conducting an ambitious plan to develop our unique portfolio of diagnostic solutions to contribute to precision medicine. In the past 2 years, HalioDx has been delivering data and diagnostic solutions beyond its own plans. This Series B financing will enable us to execute our plans faster & enter efficiently the US market. I am looking forward to seeing Immunoscore® development in oncologists’ routine practice to manage prescriptions across multiple cancer indications” comments Vincent Fert, CEO of HalioDx.
Olivier Martinez, Senior Investment Director, Life Sciences, Bpifrance, adds: “We are delighted to support HalioDx at a crucial time for the company by mobilizing our PSIM fund reserved for winners of the World Wide Innovation Challenge. Based on the clinical results already achieved with Immunoscore®, the perspectives for other diagnostic solutions under development, and the strong experience and ambition of its management team, we are convinced that HalioDx has the potential to become a leading company in the field of precision medicine applied to cancer immunotherapy.”