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.”
Read more on the subject and find the latest financial headlines with our companion app Born2Invest.
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.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [++ A2 Hosting Affiliates Review]
Something's brewing in the Right to Repair space. Lawmakers are increasingly law-making. DIY fixer upperers are increasingly fixer uppering. And,...
Why the Carbon Credit Market Is Not Working
The Carbon Brief analysis focused on 34 companies that alone used 38 million tons of carbon dioxide over the period...
Recrowd, Real Estate Lending Platform, Finally Gets European Authorization
Recrowd adopts a distinct approach for less sophisticated investors, limiting their investments to under €1,000 or 5% of their net...
Why the Amounts Invested in Belgian Fintech Companies Decreased
In 2023, the Belgian fintech sector has not witnessed any major fundraising events similar to those in previous years, such...
Bitcoin Soars 130% This Year: Will It Reach New All-Time Highs in 2024?
Bitcoin is currently trading within an ascending channel, maintaining support at $35,000, with an upward trajectory towards the psychological resistance...
Africa2 weeks ago
Burkina Faso Industry Week Focuses on Technological Innovation
Biotech4 days ago
SeniorDomo Continues Commitment Abroad and Starts Operations in France
Fintech1 week ago
Colombia Leads the Region’s Fintech Ecosystem Segment in Financial Inclusion
Crowdfunding3 days ago
f2o Sports Announced that Its Crowdfunding Campaign Has Started