Led · Convertible Note · Mar 2024

Safe Group combines Safe Orthopaedics and Safe Medical to supply ready-to-use sterile kits and implantable devices for orthopedic surgery. Safe Orthopaedics develops SteriSpineTM kits protected by 15 patent families and holding CE marking and FDA approval, with subsidiaries in the UK, Germany and the United States. Safe Medical operates an innovation center and two production sites in France and Tunisia, offering industrialization, machining, finishing and sterile packaging services. The group employs approximately 100 people. The company is currently under observation and has initiated a restructuring plan under a new management team. To support the turnaround it has arranged bond financing to facilitate implementation of that restructuring plan. Safe Orthopaedics designs, manufactures and markets ready-to-use technologies for back surgery, with a focus on solutions for emergency vertebral fractures. The company has CE-marked technologies Sycamore and Hickory (CE-marked in 2021) and is deploying the SORA virtual surgical assistant and new industrial services via Safe Medical. The new financing is intended to support direct marketing efforts in France, Germany, the UK and the US and the global commercial launch of Sycamore and Hickory. Safe is listed as FR0013467123 - ALSAF. The financing was provided by Alpha Blue Ocean Group and is structured into monthly instalments of €400,000 with revised terms versus the prior agreement. Safe has an ongoing cooperative relationship with Alpha Blue Ocean that has supported its commercial and technological development.

Led · Equity · Nov 2022

Netweek publishes 50 local editions and 40 news sites, reaching over 700,000 weekly readers and about 30 million page views per month. The group positions itself as the reference interlocutor for small and micro enterprises in Northern Italy through calibrated and personalized communication offerings. Netweek is executing a business plan tied to a reverse merger with Media Group and plans to expand its digital and online presence. The company intends to use new financing to strengthen its balance sheet and financial structure as it pursues growth. The financing commitment from Alpha Blue Ocean is explicitly intended to support Netweek’s digital expansion and the execution of its business plan over the coming years.

Participated · Equity · Apr 2022

Cannaray operates a portfolio spanning a medical cannabis business and its flagship Cannaray CBD wellness brand. The company sells directly via a high-performing DTC site, on Amazon, and through more than 1,500 UK retail outlets including Tesco, Superdrug, ASDA, Waitrose and Harrods. In Summer 2021 Cannaray launched the UK’s first major CBD TV brand campaign featuring Claudia Winkleman. The business intends to use the majority of the newly raised funds to build a pan‑European medical cannabis operation, with 2022 activation focused on Germany and the UK through teams in Berlin and London. The company recently completed a £10m funding round, and also secured a media‑for‑equity arrangement that gives its CBD brand access to Channel 4’s TV audience.

Led · Equity · Sep 2021

Pharmasimple specializes in the online sale and distribution of drugstore and parapharmacy products and is described as one of the sector leaders in Europe. During the COVID-19 health crisis the company supplied preventive products that were in short supply, which materially increased its business and working capital needs. Its growth strategy includes launching distribution terminals, adding over‑the‑counter (OTC) drug sales, and rolling out express delivery in Belgium. The company has pursued both organic growth and acquisitions, including the purchases of Parapharmazen and 1001Pharmacies.com. Pharmasimple ended the referenced financial year with turnover of €45 million (up more than 60% year‑over‑year) and a positive EBITDA of €1 million. Working capital requirements rose in 2020, and the company sought financing to strengthen its financial structure to absorb WCR variations and to support further expansion.

Led · Convertible Note · Jun 2021

Pharnext's lead program is PXT3003, which is being evaluated in the pivotal Phase III PREMIER trial for CMT1A. The company highlights its use of genomic big data and artificial intelligence in its technology approach. Its near‑term priority is to complete the pivotal Phase III study for which there is currently no approved treatment. To strengthen its cash position and continue the trial, Pharnext signed a financing agreement intended to extend its runway. Management says the program relieves a financing overhang and allows the company to pursue its business plan to create value for patients and shareholders. The financing is presented as enabling the company to manage cash needs while maximizing flexibility. Pharnext develops therapies based on its Pleotherapy™ platform and is advancing Pleodrugs for severe neurological conditions, including Charcot–Marie–Tooth disease type 1A (CMT1A) and Alzheimer’s disease. The company’s lead Pleodrug is in a Phase II clinical study for CMT1A, and Pharnext announced completion of patient recruitment in November 2011. Pharnext plans to continue its Alzheimer’s program and scheduled initiation of clinical trials in 2012. In 2011 the company raised a total of €10.5 million to fund R&D and clinical activities. The fundraising proceeds are earmarked to complete the ongoing Phase II study and to advance the Alzheimer’s program. Pharnext is led by co‑founder and CEO Professor Daniel Cohen. Pharnext develops innovative treatments based on its Pleotherapy™ approach, which combines mini-doses of multiple off-patent drugs into patented Pleodrugs™ discovered via its proprietary NEXUS genomic process. Its lead program is PXT3003, a Pleodrug™ for Charcot‑Marie‑Tooth (CMT) disease that entered Phase II trials in December 2010. The company plans to accelerate clinical development of its Pleodrug™ in CMT and to pursue discovery of additional Pleodrugs™ targeting six other serious diseases, including Alzheimer’s disease. Pharnext has assembled a range of non-dilutive and equity financing and partnerships, including grants and strategic agreements that underpin its development work. Notable prior funding and support cited include a €3.5M seed round (December 2007), a €4.75M round (June 2010), a €3.4M OSEO grant (2007), an AFM grant (2009), and leadership of the DIPPAL project (total €10.4M, with Pharnext receiving €7.3M). The company also has an agreement with Ipsen potentially worth up to €94M in upfront fees and milestones. Pharnext is a Paris-based biopharmaceutical company that uses a proprietary discovery engine to identify rational drug combinations called Pleodrugs™. Its core approach is developing combination therapies targeting severe neurological diseases and other pathologies. The company closed a €4.8m Series A to advance its programs. The funds will allow Pharnext to consider launching the first human clinical trials of its Pleodrug in Charcot‑Marie‑Tooth disease during 2010. It will also continue in vitro and in vivo research programmes in Alzheimer’s disease, chemotherapy-induced peripheral polycystic kidney disease, amyotrophic lateral sclerosis, hyperlipidaemia, neuropathy and diabetes. Investors in the round include Truffle Capital, Aurinvest Capital 2, Financière Boscary and entrepreneurs Charles Beigbeder, Claude Darmon and Olivier Fulconis.