Rhenovia Set to Develop in Key Market Areas

Rhenovia Pharma, specialists in the application of biosimulation to research and development of new medicinal products has raised EUR 540,000 (USD 738,000) from its historical shareholders in a second round of funding.

Founded in 2007, Rhenovia creates simulators that predict the effect of molecules both on healthy patients and others living with conditions such as Alzheimer's disease, Parkinson's disease, epilepsy and depression. As well as considerably reducing the need for animal testing, the simulators have numerous applications in the pharmaceutical and agrifood industries and within civilian and military security (neurotoxicity). The funding, drawn from Alsace Business Angels and the SODIV fund which supports SMEs in the Alsace region of France, will enable the company to expand its team of staff, particularly in the areas of marketing and therapeutic applications.

“The unfailing support of our historical shareholders has helped us to become the world leader in biosimulation of the central nervous system and to sign our first contracts with industrial partners,” said Dr Serge Bischoff, co-founder and CEO of Rhenovia. “This second round of funding is key to building our business development.”

Rhenovia plans to complete a third round of funding of EUR 2 million in 2014. This will be open to new investors, particularly family offices. The company intends to step up development across its three key markets, pharmaceutical, agrifood and neurotoxicity, which all have strong growth potential.