Inoviem Scientific, a contract research biotech (CRB), has secured funding of €750k from existing financial partners to support the company’s growth.
Euros
The funding includes €650k from Cap Innov’Est, the French public investment bank Bpifrance and its own banks, as well as €100k grant from Strasbourg Eurométropole. With this money, the company will be able to develop new solutions to meet the growing demands of the pharmaceutical industry.
Part of the funds have already been invested in fitting out six laboratories, expanding the company’s facilities to five times that of its previous premises.
“The confidence our partners have shown in our plans represents a real development opportunity for Inoviem Scientific. Our business continues to grow and we plan soon to hire four new staff members,” said Dr Pierre Eftekhari, president and founder of Inoviem Scientific. “Inoviem is dedicated to predicting mechanism of action, efficacy and toxicity, and performing biomarker identification, to better manage the risks and speed up the development of compounds with benefits for public health.”
Jean-François Rax, director of investment at Cap Innov’Est added, “Inoviem Scientific has reached a key point in its development. We felt that it was important to support it in its growth.”