French biotech TreeFrog Therapeutics rakes in US$ 75 million in Series B funding

TreeFrog Therapeutics, a Bordeaux, Aquitaine, France-based Biotech startup, has raised US$ 75 million (€64M) in a Series B funding round held yesterday, on September 13, 2021. Bpifrance Large Venture led the financing round joined by U.S. investment firm Leonard Green & Partners L.P., global pharmaceutical company Bristol Myers Squibb, and European venture capital team XAnge. In conjunction with the financing, independent board member Frederic Desdouits, PhD, has been appointed chief executive officer. With the latest venture fundraise, the biopharma now stands with a total valuation of US$ 83 million to date. 

What the CEO has to say

Co-founder and Executive Vice President USA, TreeFrog Therapeutics, Kevin Alessandri, said, “With this Series B and the arrival of Frederic, TreeFrog Therapeutics enters a new dimension. Frederic brings in over 25 years of experience in managing fast-growing teams in biotech and pharma companies, both in France and the U.S. Investors now support us with several billion dollars under management, as well as by a top-ten pharmaceutical company that successfully pioneered CAR-T cell therapies. In short, funding, management and governance are now secured as we embark on a very exciting journey, with the deployment of technological hubs in Kobe, Japan, and Boston, MA, and the prospect of treating our first patients in 2024.”

TreeFrog’s new CEO, Frederic Desdouits, stated, “The Series B financing allows us to dramatically increase our capacities and investments in research and development, to consolidate a pipeline of iPS-derived cell therapies targeting neurodegeneration, cardiac and metabolic disorders, as well as blood and immune-related diseases. Through therapeutic and technological partnerships, we intend to drive the adoption of C-StemTM by top biopharmaceutical players so that we can bring the benefits of the technology, in terms of safety, efficacy and cost, to as many patients as possible.”

What the Investors have to say

Senior Investment Director at Bpifrance Large Venture, Laurent Higueret, said, “The progress made by the company since its inception is truly amazing. In less than three years, TreeFrog Therapeutics has managed to build a world-leading technology suite for large-scale stem cell manufacturing, with the clear ambition to unlock the potential of cell therapies at an industry level and bring regenerative medicine products to the patients faster. We are excited to lead this round and team up with such an impressive management team and investors’ pool.” 

Partner at Leonard Green & Partners, Peter Zippelius, said, “We are pleased to support TreeFrog Therapeutics in its mission to develop and expand the application for cell therapies. TreeFrog has made tremendous progress in developing C-StemTM and overcoming many of the bottlenecks in manufacturing induced pluripotent stem cells, which will substantially enhance the ability to manufacture cell therapies at scale. We are honoured to partner with Kevin, Maxime and Frederic, and a leading group of investors to help accelerate TreeFrog’s success.”

Partner at Xange (Siparex Group),  Guilhem de Vregille, remarked, “We are excited to welcome Frederic to his new role at TreeFrog and thrilled to be part of this new board. Starting in 2019, TreeFrog had a breakthrough technology and a clear industrial vision to bring cell therapy to all. But more importantly, over the past two years, the team demonstrated outstanding execution capacities. We are confident that TreeFrog is going to drive a paradigm shift in cell therapy, as it becomes a more integrated player with an impact at every stage of the value chain.” 

About TreeFrog Therapeutics

Established in 2018 by Erwan Bezard, Jean-Luc Treillou, Kevin Alessandri, Laurent Cognet, Maxime Feyeux and Pierre Nassoy, TreeFrog Therapeutics is a developer of stem cells intended to secure cell production and quality, fasten clinical development and facilitate market access. The company’s offerings include a proprietary technology platform that provides an end to end 3D scalable solution that will dramatically reduce treatment costs, enabling patients to access the medical revolution of cell therapies by overcoming current critical manufacturing issues. For more information, check out https://treefrog.fr/.

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