IH-accelerated HCS Pharma startup announced the agreement with GEM Global Yield LLC SCS ("GEM"), a Luxemburg-based private alternative investment group
Under the agreement, GEM commits to provide HCS Pharma with a share subscription facility of up to EUR 20 million for a 36-month term following the public listing of the company shares on a European National Stock Exchange. HCS Pharma will control the timing and maximum amount of drawdown under the facility and has no minimum drawdown obligation. Concurrent to the public listing of HCS Pharma Shares, GEM will receive warrants to purchase shares of the company.
Subject to the funding becoming available, the proceeds will be used to expand the commercialization of the range of products BIOMIMESYS® in the global market. BIOMIMESYS® is already recognized as a disruptive technology in drug discovery and HCS Pharma has been listed in the “top43 '' deep tech companies coached by Invest Horizon European program in 2020.
“The GEM commitment is a very valuable support to our strategy”, said Nathalie MAUBON (PhD, founder and CEO of HCS Pharma”. “This funding associated with the public listing, will help us to accelerate the development and commercialization of BIOMIMESYS®, the first organ-specific hydroscaffold on the market that recreates the 3D environment of any healthy or cancerous organ. The use of our 3D and physiological cell culture matrix will help change the drug discovery process in order to break the wall of “90% of failure” in clinical trials, due to efficacy and safety issues. With BIOMIMESYS, we will allow pharmas and biotechs providing more efficient treatments, with a cheaper and faster drug development process.”
About HCS Pharma
HCS Pharma is a biotech start-up located in Lille that develops and markets 3D cell culture products based on its proprietary BIOMIMESYS® technology and develops its own 3D cell models alone or in partnership that it offers to their customers from pharmaceutical, dermo-cosmetic and food industries. HCS pharma team has unique expertise in the development of new 3D in vitro models and their miniaturization and automation to perform high throughput screening in order to analyze efficacy or toxicity effects of a large number of products. BIOMIMESYS® is a groundbreaking 3D technology that enables the faithful reproduction of the microenvironment, also called Extra-Cellular Matrix (ECM) of any organ/tissue, healthy or cancerous. It is also the only ready-to-use organ-specific 3D technology usable in medium/high throughput screening of molecules using cellular imaging technology called High Content Screening (HCS).
About GEM Group
Global Emerging Markets ("GEM") is an alternative investment group based in Paris, New York and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets that provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum. Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity profile.
InvestHorizon is a program financed by the European Commission, in association with Eureka, to facilitate Series A funding for selected deep tech companies boosting their investment readiness and investor relations. The program is run by a consortium coordinated by Tech Tour with six other partners: BPI France, Meta Group, EurA, BWCON, EBN, and IESE Business School.