(AOF) – Néovacs announces a fundraising of 1 million euros by drawing 1 tranche of Oceane-BSA, with a nominal value of 1 million euros, subscribed by European High Growth Opportunities Securitization Fund. The net proceeds of this operation, i.e. 960,000 euros, will be intended, for 50%, to finance the Kinoid research program on allergies and, for 50%, to strengthen investment capacities in promising projects, both in the development of drug candidates (BioTech) and medical devices (MedTech).
Neovacs specifies that this activity, which has given rise to several equity investments to date (Bio Detection K9, Signia Therapeutics, Netri Medical Devices Venture and Pharnext more recently) will allow the risk borne by Neovacs to be diversified by investing in ambitious but realistic.
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Loss of speed in European research
European research is losing ground to American and Chinese research. In twenty years, Europe’s share has fallen from 41% to 31% in global R&D. China’s share jumped from 1% to 8%. As for the United States, which supplanted Europe, in 2001 it devoted only 2 billion euros per year more than Europe to R&D, whereas now this gap has reached 25 billion! Some experts accuse the European authorities of not having deployed effective policies. The financing of pharmaceutical research should therefore have been better targeted via the “Horizon 2020” programme. France only comes in eighteenth position in European funding despite the quality of its research. Conversely, the United States concentrates funding on Boston and a few centers of excellence.