Advent France Biotechnology creates structure in Spain and hires a country manager

Advent France Biotechnology, an investment company specializing in life sciences has created a structure in the Spanish market and has appointed Alejo Chorny as director and head of business activities in the country.

The new addition will allow the private equity manager to expand its activities in Spain in the “booming life sciences sector,” according to the group. Chorny will help AFB to identify and finance innovative early-stage therapeutic projects. Chorny’s main business objective in Spain will be to support early-stage therapeutic projects and explore opportunities for future investment. 

Advent France Biotechnology noted that the new head of its business in Spain has a “strong scientific background and experience in business development, technology transfer, and project evaluation.”  

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Advent France Biotechnology identifies and finances innovative early-stage therapeutic projects 

The investment company pointed out that the Spanish life sciences market has a high-quality scientific environment that needs more early-stage fundraising. AFB believes that the main market hurdle in the country is transforming existing scientific knowledge into viable and innovative start-ups. Chorny has fourteen years of translational research experience; combining knowledge in technology development with operational experience in business development, investors, and consulting. 

Prior to joining Avent France Biotechnology, the new director of the Spanish division was in the business development team of Bial Pharmaceutical in Portugal, where he was responsible for the search and identification of external technologies that fit strategically with the company’s sales process. Previously, Chorny worked as an evaluator at EIT Health Catapult 2020. Until that year, the executive spent nearly ten years in New York, where he worked for biotech Celdara Medical identifying early-stage technologies for potential in-licensing. 

“His scientific and business experience will help us to detect potential projects and start-ups and increase our visibility in Spain,” said Alain Huriez, co-founder and president of Advent France Biotechnology.  

Alejo Chorny has worked at Bial Pharmaceutical, EIT Health and Celdara Medical 

“The Spanish biotech ecosystem is in full effervescence, I am convinced that investing in early-stage therapeutic projects and helping in the creation and development of new companies is the way to create value and contribute to transforming the sector,” added Chorny. 

In 2020, Advent France Biotechnology made its first deal in Spain with an investment in Arthex Biotech, a preclinical-stage life sciences company focused on next-generation antisense RNA therapeutics for the treatment of myotonic dystrophy type 1. The company closed a €4.3 million financing round last July. The investment company, regulated by the Autorité des Marchés Financiers (AMF), was founded in 2016 in Paris. It made its first investment a year later and currently has thirteen investments in France, Belgium and Spain. Alongside Huriez, Matthieu Coutet is the other co-founder of AFB.

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