PathoQuest Secures €8 Million Funding to Advance Its NGS-Based Pathogen Detection Platform

On September 10, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biotechnology company PathoQuest announced the completion of an €8 million financing round (the specific round has not been disclosed). The investors included Norgine Ventures, Kurma Partners, Idinvest Partners, Charles River Labs, investiere, and the French Public Investment Bank (PIA3).

PathoQuest, founded in 2010 and headquartered in Paris, France, is a subsidiary of the Institut Pasteur. The company is dedicated to exploring innovative approaches in metagenomics to enhance pathogen detection in biological samples. PathoQuest’s technology integrates next-generation sequencing (NGS) platforms with specialized sample preparation processes. This process, underpinned by a proprietary database of pathogen genomic sequences and an automated analysis pipeline, is applicable to various types of biological samples. PathoQuest’s solutions provide microbiologists and clinicians with comprehensive analyses covering all known clinically relevant human pathogens.

PathoQuest has developed iDTECT™ Blood, the first metagenomic sequencing in vitro diagnostic (IVD) product for clinical infectious disease diagnosis to receive CE marking in the European Union. Leveraging its proprietary technology platform, PathoQuest also provides biopharmaceutical companies with a disruptive approach to producing vaccines, recombinant proteins, and cell-associated biologics. Currently, an increasing number of large biopharmaceutical companies and clinical-stage biotechnology firms are adopting PathoQuest’s biogenomic technologies.

Chris Gay-Crosier, Head of International Investments at investiere, stated, “We are pleased to invest in PathoQuest, a company that helps biopharmaceutical companies provide safer and better treatment options for patients. iDTECT™ Blood is a promising innovative test that enables clinicians to implement effective antimicrobial stewardship measures.”

Jean-François Brepson, CEO of PathoQuest, commented, “We are delighted to have completed this financing round, as it will further solidify PathoQuest’s leadership position in the field of NGS-based microbial testing. This funding is the result of our continuous efforts.”

Norgine Ventures, established in 2012 and headquartered in the United Kingdom, is a leading pharmaceutical company. The company supports innovative healthcare companies by providing debt financing in Europe and the United States.

Kurma Partners, established in July 2009 and headquartered in Paris, France, is a venture capital firm. The company primarily invests in the healthcare and biotechnology sectors.

Idinvest Partners, founded in 1997 and headquartered in Paris, France, is a private equity firm. The company manages €8 billion in assets and primarily invests in innovative mid-sized companies across Europe.

Charles River, founded in 1947 and headquartered in Massachusetts, USA, is a biotechnology company. The company helps pharmaceutical and biotechnology companies, government agencies, and leading academic institutions around the world accelerate their research and drug development efforts.

Investiere, founded in 2007 and headquartered in Switzerland, is an angel-stage investment firm specializing in technology startups.

(Compiled by Hu Yifan)