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 & Japan
Pursuant to securing $75 million in Series B funding, TreeFrog Therapeutics names Frederic Desdouits, PhD, as CEO and announces that co-founder Kevin Alessandri, PhD, is to relocate to Boston to drive TreeFrog’s expansion in the U.S. The funding was led by Bpifrance Large Venture, together with Leonard Green & Partners L.P., Bristol Myers Squibb and XAnge. It will support TreeFrog’s advancement of C- StemTM technology, a pipeline of cell therapies and the opening of two technological hubs.
TreeFrog Therapeutics has secured $75 million in Series B financing, led by Bpifrance Large Venture together with Leonard Green & Partners L.P., Bristol Myers Squibb and XAnge. Independent board member Frederic Desdouits, PhD, has also been named chief executive officer, and co-founder Kevin Alessandri, PhD, will relocate to Boston to drive TreeFrog Therapeutics’ expansion to the U.S.
The financing will fund the deployment of biomimetic C-StemTM technology for clinical-grade manufacturing, advance a pipeline of cell therapies to the clinic, and facilitate the opening of technological hubs in Boston, MA, and Kobe, Japan.
C-StemTM outperforms existing technologies for the growth of human-induced pluripotent stem cell (hiPSC) in terms of scale and quality, and is the only technology capable of maintaining genomic integrity through large-scale hiPSC expansion. TreeFrog Therapeutics is preparing for a first-in-human trial in 2024 following best-in-class preclinical results in Parkinson’s disease, and is expanding its pipeline of cell therapies targeting neurodegeneration, cardiac and metabolic disorders, as well as blood and immune-related diseases through in-house programs and partnerships.
With Series B funding and Frederic Desdouits joining as CEO, TreeFrog Therapeutics has its funding, management and governance now secured. “Frederic brings in over 25 years of experience in managing fast-growing teams in biotech and pharma companies, both in France and in the U.S. We are now supported by investors with several billion dollars under management, as well as by a top-ten pharmaceutical company that successfully pioneered CAR-T cell therapies,” commented Kevin Alessandri, PhD, co-founder and executive vice president USA, TreeFrog Therapeutics.
“In just two years and, with only $7M in Series A funding, the TreeFrog Therapeutics team transitioned C-StemTM from the bench to an industrial technology applicable to any cell therapy,” said new CEO, Frederic Desdouits, PhD. “Through therapeutic and technological partnerships, we intend to drive the adoption of C-StemTM by top biopharmaceutical players, so that we can bring the benefits of the technology, in terms of safety, efficacy and cost, to as many patients as possible.”
Pursuant to Series B financing, Laurent Higueret (Bpifrance Large Venture) and Peter Zippelius (Leonard Green & Partners) will join the board chaired by Jean-Luc Treillou (co-founder), while Girish Pendse (Bristol Myers Squibb) will join as observer.
About TreeFrog Therapeutics
TreeFrog Therapeutics is a privately held French-based biotech start-up focused on developing safe and affordable stem cell-derived cell therapies for millions of patients. The company’s C-StemTM technology enables high-throughput cell encapsulation 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 reduces production costs. For more information, visit www.treefrog.fr.