The News

Faust raises 16 million euros to further develop its product candidates

10/05/2004

Strasbourg, 10 May 2004

Faust Pharmaceuticals, a biopharmaceutical company based in Strasbourg, France, and dedicated to the discovery and development of novel drugs for Central Nervous System (CNS) disorders, announced today that it has finalized a second round of financing for 16 million euros.

The company’s original shareholders, Sofinnova Partners and Auriga Partners, confirmed their confidence in Faust’s projects by investing an additional 6.5 million euros.

A group of four new investors led by Edmond de Rothschild Investment Partners and Siparex Ventures, including AGF Private Equity and FCJE, managed by FP Gestion, invested another 9.5 million euros.

« This funding backs up the development strategy led by the company. We will then accelerate the clinical development of our product for Amyotrophic Lateral Sclerosis, currently in Phase I, and sustain our other product candidates to clinics. Our most recent program, which focuses on targets of GPCRs involved in neurodegenerative diseases, and the acquisition of Euroclide, will also help us intensify our drug discovery programs », said Grégory Chapron, CEO of Faust Pharmaceuticals.

«Faust’s strength lies in the combination of a rapidly progressing portfolio of preclinical and clinical products and a potent platform of drug discovery focused on the CNS », said Michèle Ollier, investment associate of Edmond de Rothschild Investment Partners, who joins Faust Pharmaceutical’s Board of Directors.

« We have been really impressed by Faust Pharmaceutical’s innovative scientific approach which aims at discovering and developing new drugs for CNS diseases », concluded Paul Tholly, Managing Director of Siparex Ventures.

About Faust Pharmaceuticals
Faust Pharmaceuticals is a biopharmaceutical company dedicated to the drug discovery and development of new drugs for the treatment of chronic neurodegenerative diseases such as Alzheimer’s disease, Parkinson’s disease, Huntington’s disease, amyotrophic lateral sclerosis, or multiple sclerosis. 
Created in October 2001, Faust Pharmaceuticals originated from a CNRS research team. The company, based in Strasbourg, raised 19 million euros from lead investors such as Sofinnova Partners, Auriga Partners, Edmond de Rothschild Investment Partners, Siparex Ventures and AGF Private Equity.
The technology platform developed by Faust allows the identification of neuroprotective drug candidates able to modulate the presynaptic release of neurotransmitters responsible for neurodegenerative disorders.  Faust focuses on the identification of drug candidates and carries out the full process of preclinical development as well as Phase I and initial Phase II developments before licensing them to pharmaceutical companies.  Faust Pharmaceuticals presently employs 20 people.

Press contacts :
Gregory Chapron     Marie-Carole de Groc/Florence Macaire
CEO of Faust Pharmaceuticals    Euro RSCG C&O
gchapron@faustpharma.com    marie-carole.de-groc@eurorscg.fr
Tel. : 33 (0)3 90 40 61 50    florence.macaire@eurorscg.fr
       Tel. : 33 (0)1 58 47 95 07/95 18