The News

Neosens closes a second funding round of €4M

21/04/2009

TOULOUSE, France I April 21st, 2009 - Neosens, specialized in monitoring solutions based on microelectronic sensors to monitor fouling and dissolved oxygen in water and industrial processes, announces the closing of a € 4 million capital round and the appointment of Thierry Brisard as CEO. The group of investors, led by Sofinnova Partners, includes the Belgian Capricorn Cleantech Fund and Galia Gestion, and the original investors, ICSO Private Equity and IRDI.

After a first round in December 2007, Neosens closed its second round of financing for € 4 million bringing the company’s capital to € 6.5 million. Founded in 2001 in Toulouse by Laurent Auret, Neosens develops and markets a new generation of measuring instruments with sensors based on Microsystems technologies for monitoring and measuring the quality of water and industrial liquids. The product list includes unique and revolutionary sensors for continuous, real-time and in-situ measurement of fouling (biofilm & scale) thickness inside industrial equipment carrying water or industrial liquids, as well as monitoring solutions for continuous measurement with automatic calibration of dissolved oxygen at very low levels (ppb) in water or hydrocarbons. In addition, Neosens develops new products and customized solutions for its customers through its technological platform. Neosens’ unique probes, equipped with miniaturized and easily integrated sensors, contain innovative features that respond to current issues faced by monitoring networks and industrial processes. Neosens’ products have proven themselves in industrial processes designed for the pulp & paper industry, the food & beverage industry, and in water treatment applications for cooling towers.

Along with this second fund raising, Laurent Auret decided to leave his position as CEO for the management of Strategic Development and Innovation. Thierry Brisard took on the function of CEO in order to ensure the overall and international development of the company. After his experience as General Manager at Nalco (specialty chemicals for water treatment and process) Thierry Brisard joined Neosens in June 2008. He aims to capitalize the fundamental values initiated by Laurent Auret, and to lead the company up to its financial independence. "Laurent Auret succeeded in developing and industrializing worldwide unique products which give a true response to current technical and sanitary industrial issues. My goal is to market these products that have been demonstrated to be industrially reliable, and to contribute in making Neosens a real business success. This will be achieved through an ambitious and responsible development of our sales activities, which can be realized now thanks to the renewed trust of our initial investors Sofinnova, Capricorn Cleantech Fund and ICSO. However, this goal can only be achieved if we stick to our people development process and to our core values: technical excellence, professionalism and customer care," says Thierry Brisard.

“In the process initiated several years ago for the reinforcement of management, the meeting with Thierry Brisard and especially the success of this transition are among the key events in the history of our company. Our duo, with its complementary skills and personalities, is the key element to achieve the goals we have set,” says Laurent Auret, who will continue to attend the Board of Directors.

This second round of funding will allow Neosens to continue financing both its development and marketing initiatives and fuel the company’s growth. The objectives will be also the development of next generation monitoring solutions, and the addition of new measurement techniques to its technological platform.

Press relations: Isabelle Girard
Tel: +33 (0) 5 61 75 62 47 - isabelle.girard@neo-sens.com

About Sofinnova Partners
Founded in Paris in 1972, Sofinnova Partners is one of Europe's leading independent venture capital firms. With € 900 million under management, Sofinnova Partners invests in start-ups and early-stage companies in technology and life sciences. Its investment strategy consists of investing early in teams and projects with high potential, most often acting as lead or co-lead investor. Sofinnova Partners also benefits from a long-established relationship with its sister company in San Francisco, Sofinnova Ventures. Sofinnova Partners’ teams bring valuable market insight and technical expertise to portfolio companies.

About Capricorn Cleantech Fund
Capricorn Cleantech Fund is an early to mid-stage venture capital fund managed by Capricorn Venture Partners. The fund invests in European growth companies developing innovative breakthrough technologies in the field of e.g. renewable energy and energy efficiency, water purification and re-use, bio-based material conversion and biorefinery platforms, clean air, climate change, green chemistry and advanced materials, materials recovery and recycling.
Capricorn Venture Partners NV, established in 1993, is a Leuven, Belgium based, independent manager of venture capital funds that focus on European companies with innovative technology as competitive advantage. The investment team of Capricorn is composed of experienced investment managers with deep technology expertise and a broad industrial experience.
For more information: www.capricorn.be

About ICSO Private Equity
ICSO Private Equity manages private equity funds (FCPR and FIP) dealing with venture capital, LBO and Growth capital. The 18-people team is member of the economic interest group IRDI and has been performing for 26 years.
Based in Toulouse and Bordeaux, ICSO Private Equity is the largest French independent regional actor. The company manages approximately € 200 million in assets, and invests from € 0.5 to 10 million in projects primarily in the West and South of France and in the North of Spain.
For more information: www.icso.fr
Contact: ICSO Private Equity (Jean-Michel Petit +33 (0)5 34 41 74 08)
Press: Sylvie Ives (+33 (0)6 84 14 11 15 - sylvie.ives@comm-in.fr)

About Galia Gestion
Galia Gestion is a regional venture capital company based in Bordeaux, managing FCPR and FIP, and mainly active in the South-West of France. Its main shareholder is the Caisse d’Epargne Aquitaine Poitou-Charentes. The company manages € 63 million of assets and invests amounts of € 0.2 to 2.5 million in creation, development or acquisition projects.
For more information: www.galia-gestion.com

SOFINNOVA PARTNERS Alessio Beverina
CAPRICORN VENTURE PARTNERS Marc Lambrechts
ICSO P.E./IRDI Jean-Michel Petit | Pantxika Passicot
GALIA GESTION Yves Bardinet
■ Legal Consulting Sébastien Burget (Stratene Avocats)
■ Legal Investment Consulting Anne Kerneur (Jones Day)
■ IP Audit Maxime Petit (Santarelli)
■ Financial Auditing Jean Pendanx (Attest Conseil)