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 &Amp; Japan

Sep 13, 2021•almost 4 years ago

Amount Raised

$75 Million

Round Type

series b

Bordeaux

Description

TreeFrog Therapeutics, a privately held French-based biotech startup focused on developing safe and affordable stem cell-derived cell therapies for millions of patients, today announced the successful closing of a $75 million (€64M) Series B financing round, bringing the total funding to date to $83 million (€70M). The financing round was led by Bpifrance Large Venture, part of the French Public Investment Bank, 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

Company Information

Company

Tree Frog Therapeutics

Location

Bordeaux, Nouvelle-Aquitaine, France

About

TreeFrog Therapeutics is a startup company aiming to provide access to cell therapies for millions of patients. TreeFrog Therapeutics has developed C-StemTM, a high-throughput cell encapsulation technology allowing for the mass-production and differentiation of stem cells in industrial bioreactors. This proprietary technology platform provides an end-to-end and scalable solution that dramatically improves the quality of therapeutic cells and reduce production costs. Since its incorporation in November 2018 in Bordeaux, France, TreeFrog Therapeutics has experienced strong acceleration, raising over €10M ($11.7M) in 2019. In January 2020, TreeFrog Therapeutics joined the FrenchTech120, an elite program for the fastest-growing technology companies in France. The team—currently 50+ employees—moved into a brand-new production facility of 13,000 square foot in June 2020. In October 2020, TreeFrog Therapeutics was awarded the Prix Galien MedStartup in New York for its international consortium on iPSC quality with the Harvard Stem Cell Institute in Boston (USA), the FRBI in Kobe (Japan) and the Imagine Institute in Paris (France). In April 2021, TreeFrog announced a world's first, with the production of a single batch of 15 billion pluripotent stem cells in a 10L bioreactor, with an unprecedented amplification factor of 276x in 6.59 days. Results were confirmed to be highly reproducible, and company reported exceptional cell quality at the 2021 ISSCR annual meeting.www.treefrog.fr

Funding Insights

Based on industry data

Tech investment trends

83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech