TreeFrog Therapeutics obtains USD 75M in Series B Financing

By Patrick Miller |

France-based biotechnology company TreeFrog Therapeutics has made it to the headlines for having raised USD 75 million in a Series B funding round. With this, the firm’s total funding so far totals to USD 83 million.

French venture capital fund Bpifrance Large Venture led the Series B. Other participants include pharmaceutical major Bristol Myers Squibb, US-based investment company Leonard Green & Partners L.P., and Europe-based venture capital team XAnge.

Apart from the financing, the company has also made it to the front page for the appointment of Frederic Desdouits, PhD, independent board member, as chief executive officer.

Kevin Alessandri, PhD, Co-founder and Executive VP, TreeFrog Therapeutics, USA, has been quoted to state that with Frederic Desdouits’s appointment and the Series B financing, the company will enter a new growth spectrum. He adds that presently, the company has the support of investors having several billion dollars, alongside a top-tier pharma major that has pioneered CAR-T cell therapies. With the governance and management issues resolved, TreeFrog can set foot on an exponential growth path as it continues to deploy technological hubs in Japan and Boston, Kevin Alessandri said further.

An official release states that TreeFrog will be using the funds to leverage biomimetic C-StemTM technology which in turn will be used for clinical-grade manufacturing, financing the technological hubs in Boston and Kobe, and advancing a set of cell therapies to the clinic.

For the uninitiated, C-StemTM is a technology that enables the growth of hiPSC (human induced pluripotent stem cells). It further aids their differentiation into microtissues (that are ready-to-transplant) in industrial bioreactors. As per preliminary results brought to light at the International Society for Stem Cell Research and the American Society of Gene & Cell Therapy, C-StemTM so far, is the only technology that has the ability to maintain genomic integrity via large-scale hiPSC expansion.

TreeFrog conducted a preclinical trial with best-in-class results in Parkinson’s disease, on the basis of which it plans to hold the first-ever human trial in 2024.



Source Credits:

https://timesnewsexpress.com/news/finance/banking/treefrog-therapeutics-secures-75m-in-series-b-financing-to-advance-a-pipeline-of-stem-cell-derived-cell-therapies-and-deploy-proprietary-c-stem-technology-in-the-usa-japan/

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