Portfolio

Kurma Biofund I

Kurma Biofund I: Investment funds dedicated to Life Sciences

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Kurma Biofund I, with a size of 51 million euros, was launched in November 2009. It comprises a portfolio of 11 active Life Sciences companies. Five companies out of this portfolio has been created by the Fund in collaboration with research Institutes.

Our principles and methods of investment

  • Kurma Partners' methods of investment, through Kurma Biofund I, highlight a selective approach to risk rather than extreme diversification within lines of investment. For each investment, Kurma Partners concentrates on a limited number of scientific projects or applications.

Technology Transfer (TT):

  • A first investment of between 150,000 and 500,000 euros is made in order to develop and test the scientific hypotheses and prove the applicability of the concepts with which the research is concerned. Sums are made available quickly and Kurma Partners takes out an option on the results of the research.
  • Depending on how fast the project develops, Kurma contributes up to 5 million euros, in multiple tranches, released over the duration of the project (from three to five years, with a maximum of seven years).

Kurma Partners bases its TT investment strategy on the following principles :

  • A preference for associating itself with the capital of the companies created by research centers and researchers, rather than for royalty agreements. This brings the possibility of faster benefits. Research centers and researchers therefore retain a large minority shareholding, with the Fund being the majority shareholder.
  • Creation of a board of directors comprising the researchers who created the project (if they so wish) and professionals with relevant experience in the field of biomedical discoveries. Everyday management is carried out by experienced managers with a background in the biomedical industry, who are able to give the associate researchers the benefit of their experience.
  • Researchers are free to pursue their academic research activities whilst remaining associated with the companies that have been founded, subject to the agreement of any committees set up to deal with conflicts of interest.

Venture

  • This is an investment of 1 to 5 million euros per project, in a lump sum or in multiple tranches. These investments are much more classical in terms of their everyday functioning and benefit from the commitment of at least one of the Fund partners.

Capital Development / Listed Companies

  • This involves an investment of up to 5 million euros per transaction, usually released all at once. Such investments are limited and opportunistic, based on contacts with the network of financial organizations operating in the sector. The focus is on high value-added opportunities for biomedical products, in undervalued companies.
Kurma Biofund I
BLINK BIOMEDICAL
Novel antibody platform

Kurma Biofund II

Kurma Biofund II: Investment fund dedicated to innovative therapeutics, with a special focus on rare diseases

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The purpose of Kurma Biofund II is to invest in projects and Companies in the Life Sciences sector, essentially in Europe but to a marginal extent also in the US, that address a significant medical need.

At least 50% of Kurma Biofund II investments will be directly or indirectly devoted to orphan diseases. These projects will largely concern therapeutic programmes, primarily or secondarily targeting rare diseases and responding to a strong medical need. In general, they will involve the development of new drugs up to clinical proof of concept. Kurma Biofund II began its investment period in June 2013

Kurma Biofund II
Pharvaris
New generation of therapeutic approach in hereditary AngioOedema (HAE)

Kurma Diagnostics

Kurma Diagnostics: A dedicated fund to Diagnostic initiatives and projects

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Kurma Diagnostics (KDx) is a acceleration funds that is wholly focused on Diagnostics, Patient monitoring, and e-Health initiatives.

The fund is around 35 million euros in size, and can invest in newly formed companies, or projects that are developing applications that radically alter the current standard solutions.

The main investors of KDx are BPI France, the European Investment Fund, BNP-Paribas, and the Pasteur Institute, the latter being a strategic partner with the fund.

More than 10 major European academic institutes are closely associated with KDx.

Kurma Diagnostics Acceleration

KDx Acceleration has been established as the virtual accelerator of Kurma Diagnostics FPCI. KDx Acceleration has been incorporated in September 2015. KDx Acceleration will fund through Kurma Diagnostics a total of 4-6 individual academic projects to implement relative development plan from research to product.

Kurma Diagnostics Acceleration
GVHD
Predictive cellular assay for the selection of donor to decrease the aGVHD risk in blood stem cells transplantation
Kurma Diagnostics Acceleration
Pneumocystis
Molecular assay for the diagnostic and survey of Pneumocystis jirovecii in immune-compromised patients

Idinvest Partners

Idinvest Biotech: a portfolio managed by Kurma Partners under a consultancy mandate

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The "Idinvest Biotech" portfolio was constituted between 2004 and 2010. It is made up of 14 companies based in France, Great Britain, Denmark, Switzerland and Benelux. These companies operate in the field of human health, in emerging and niche markets which particularly concern orphan diseases, children's diseases, medical diagnosis and theranostics.

Idinvest Partners
NOVAGALI PHARMA
Development of drugs for ophtalmology
Idinvest Partners
PROSENSA THERAPEUTICS
Treatment of genetic disorders
Idinvest Partners
VIVACTA
Point of care - Diagnostic platform