Domain Therapeutics secures €6m debt financing
Domain Therapeutics, a biopharmaceutical company specialised in the discovery and development of new drug candidates targeting G Protein-Coupled Receptors (GPCR) in neurology, oncology and rare diseases, announces it has closed a €6m ($6.7m) debt financing to expand its proprietary drug portfolio and prepare the next round of financing.
After raising €3.5m ($3.9m) in 2019 from an existing shareholder, Seventure Partners, Domain Therapeutics will use this additional financing to accelerate the development of its valuable portfolio. The French Public Investment Bank (Bpifance), Banque Populaire Alsace Lorraine Champagne (BPALC), Credit Industriel et Commercial (CIC) and Caisse d’Epargne Grand Est Europe (CEGEE) have participated in this non-dilutive financing as a strategic step towards a significant fund raising in 2020 aimed at supporting the development of its most advanced assets.
“This transaction shows the confidence of the banks in Domain Therapeutics and its business model and recognises our ability to syndicate financial partners around our business objectives,” said Pascal Neuville, CEO, Domain Therapeutics. “This loan is part of our stepwise strategy leading to a series C in order to speed up our business activities.”
Domain will launch multiple programs, on valuable GPCR targets, aimed at reinforcing its portfolio of first-in-class drug candidates and at generating multiple-target collaboration opportunities with pharma partners.
