- 3 min
Paris, 16 September 2009
ERA Biotech, a bioproductivity company developing proprietary tools that improve the performance of cell-based factories, announced today that it has concluded a €3,75m investment in a series B round. Crédit Agricole Private Equity from Paris, France, acted as the lead investor in this round, ERA's historical shareholders, including BcnHighgrowth, Axis, Uninvest and private investors, also contributed to this new financing of the Company.
Founded in 2002, ERA is a Spanish firm and employs 22 scientists and managers in Barcelona, Spain.
"Crédit Agricole Private Equity believes value is created by talented teams and disruptive technologies ", said Philippe Guinot, MD, PhD, Senior Partner at, Crédit Agricole Private Equity who joins the Board of Directors." Zera® is a technology which has demonstrated over the last two years the ability to provide versatile solutions to unmet needs in medical and industrial production fields”.
"As a major European investor, Crédit Agricole Private Equity brings an extensive network to the table", said Christian Fernandez from BcnHighgrowth, "as well as a unique record of success with biotech production platforms. This investment will strengthen ERA's international R&D and commercial endeavours ".
The development of product prototypes for selected indications and markets will be the main use of the funds, according to ERA's CEO, François Arcand: “ERA's team appreciates both the new and renewed confidence”. ERA will also continue the scale-up of Zera®, its proprietary protein-production process, both in-house and with strategic partners, and will consider opportunities to extend its technology and product portfolio.