BIGNON LEBRAY has advised Alzprotect in raising capital
BIGNON LEBRAY has assisted Alzprotect in its effort to raise € 14 million in order to accelerate the development of treatments for neurodegenerative diseases.
The Mergers & Acquisitions, Corporate and Private Equity departments of Bignon Lebray’s Lille office, led by Thomas Buffin (Partner) and Tanguy Dubly (Lawyer), have advised Alzprotect a Lille biopharmaceutical company as part of a Phase II development funding for the AZP2006 molecule. This treatment is developed for purposes of curing the supranuclear paralysis (PSP) and especially allows to treat neurodegenerative diseases including Alzheimer’s and Parkinson’s diseases.
During this transaction, Alzprotect company, headed by Philippe Verwaerde, raised capital for an estimated amount of 14 million euros, subscribed to a majority by Xerys Gestion, for 12 million euros, while the remaining two million euros were financed by historical investors: Nord France Booting, Finovam, Lille University, Besançon Holdings and a team of private investors.
This second round comes at a time when the pharmaceutical industry estimates that the PSP would represent a market of approximately US $ 700 million. This first step of validation of the product concept would allow significant advances in the area of health.
Legal advisers (Alzprotect)
Thomas Buffin (Partner)
Tanguy Dubly (Lawyer
Legal advisers (Xerys Gestion)
Alexis Marchand (CVS)
Alexandra Thil (CVS)