SeaBeLife Receives Close to €1.4M Deep Tech Financing From Bpifrance

SeaBeLife has received €1.37M ($1.49M) in financing from Bpifrance. This financing, which has been granted in connection with the French government’s ‘Deeptech Plan’, will contribute to research into first-in-class drug candidates for the treatment of acute liver, kidney, heart and brain disease, SeaBeLife said in its press release.

These funds will enable SeaBeLife to develop drug candidates with the unique ability to simultaneously inhibit necroptosis and ferroptosis, two modes of regulated cell death that are activated in individuals living with certain pathologies. The objective is to protect or regenerate organs affected by severe pathologies for which there are currently no effective treatments. SeaBeLife is the only company working on inhibition of these two modes of regulated cell death, the company said. The financing will be paid out in two installments via the French government’s ‘Future Investments Program’: €959k ($1.04M) in the form of a repayable advance and €411k ($447k) in the form of subsidies.

“We are thrilled to have received this strategic financing from Bpifrance, which will provide us with a real springboard to continue developing. It is also wonderful to see the potential of our unique pipeline, which targets two regulated cell death pathways, being recognized in this way,” said Morgane Rousselot, CEO and co-founder of SeaBeLife. “This year, we will also be continuing our series A funding round, which will allow us to progress our preclinical trials and prepare for the clinical launch of our flagship molecules for the treatment of acute liver and kidney disease.”

The deep tech financing provided by Bpifrance is intended to fund the research and development phases of innovative, breakthrough projects prior to their industrial and commercial launch. Established in 2019, the Deeptech Plan comprises funds worth €2.5Bn ($2.72Bn) over five years, with the objective of financing the creation of 500 start-ups each year, the company said.