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NETRIS Pharma Secures €7.5M Funding Boost, Series A Climbs to €24.4M

NETRIS Pharma, the dynamic French biopharmaceutical startup, has just upped the ante with a dazzling €7.5M round
By Josefina Dipaolo
December 22, 2023

Breaking new ground in the fight against cancer, French biopharmaceutical startup NETRIS Pharma has just announced a significant boost with a €7.5 million extension round, propelling its ongoing Series A funding to an impressive €24.4 million. This infusion of capital comes hot on the heels of the company's selection for the coveted EIC accelerator program and marks a critical milestone in its mission to develop cutting-edge molecules targeting cancer resistance. Let's delve into the details of this groundbreaking development and the strategic moves NETRIS Pharma is making in the realm of oncology.

Founded in Lyon in 2008 by Patrick Mehlen and Agnes Bernet, NETRIS Pharma is at the forefront of the biopharmaceutical landscape, dedicated to providing superior clinical benefits to patients facing challenges with anti-proliferative therapies. The company's focus on developing therapeutic molecules that specifically target tumor-expressed moieties sets it apart in the quest for safer and more effective cancer treatments.

As NETRIS Pharma charts its course toward transformative growth, the executive team welcomes two key appointments. Fabien Sebille joins as Chief Business Officer, bringing a wealth of experience from both private and public oncology biotech companies. His leadership in business development aligns with NETRIS Pharma's commitment to advancing breakthrough treatments. Additionally, Gabriela Gruia, former Senior Vice President and Head of Regulatory Affairs Oncology at Novartis, strengthens the Board of Directors, adding invaluable leadership from the pharmaceutical industry.

The newly acquired €7.5 million will play a pivotal role in advancing NETRIS Pharma's clinical development plan, ensuring progress across all endpoints. Specifically, the company is evaluating the efficacy of its anti-netrin-1 antibody candidate, NP137, in combination with Atezo-bev NP137 in five ongoing clinical trials. These trials encompass combinations with chemotherapies or immunotherapies, reflecting NETRIS Pharma's commitment to exploring comprehensive treatment approaches.

Christophe Guichard, Chief Financial Officer of NETRIS Pharma, expressed confidence in the company's development plan, citing the impact of recent publications in Nature® that underscore the promising mode of action of lead product NP137. As the company anticipates significant value inflection points in the next 12 months, the funding extension positions NETRIS Pharma for continued success amid challenging times in biotech fundraising.

In the words of Patrick Mehlen, Chief Executive Officer of NETRIS Pharma, the recruitment of Fabien Sebille is a strategic step in preparation for multiple clinical readouts expected in the coming months. Mehlen emphasizes the collaborative efforts to raise the company's profile and strengthen relationships with pharmaceutical companies and strategic partners.

NETRIS Pharma's triumphant fundraising is not just a testament to its progress but a promise of innovation in clinical development. With strategic board appointments, a solid financial boost, and ongoing breakthrough trials, NETRIS Pharma stands at the forefront of advancing cancer therapeutics. As the company continues its rapid progress, the welcome addition of Gabriela Gruia and the strategic foresight of the Board of Directors signal a future of transformative growth. The journey towards revolutionary cancer treatments is well underway, with NETRIS Pharma leading the charge.

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