Jeito Capital, a private equity firm, has recently led a Series A financing round worth €20 million in a biotechnology company, InnoSkel.
For the record, Jeito co-led the funding round in a high-quality syndicate with other investors like Vida Ventures and The Turenne Group. The recent announcement marked the 3rd investment of Jeito in the last 4 months, after SparingVision and Neogene.
The financing proceeds will be adopted to drive the asset pipeline of InnoSkel from its gene therapy platform, which includes a range of rare & life-threatening skeletal disorders known as type II collagenopathies. The company’s lead asset has been used for developing treatment of a neonatal presenting skeletal disorder known as SEDc (Spondyloepiphyseal Dysplasia congenita). It is a rare genetic disease that causes short stature & skeletal abnormalities affecting the spine & long bones of legs and arms. The disease is impacting over 1 in 100,000 individuals, with no approved curative treatment.
According to Jeito’s CEO & Founder, Rafaèle Tordjman, the company’s recent investment in InnoSkel highlights its commitment to the advancement of the European and French healthcare ecosystem and will cater to the high unmet needs. It also lends a strong focus on delivering innovative treatment for a wide range of pediatric skeletal disorders, due to the unavailability of any curative therapy.
She further cited that the company is thrilled to partner with the team at InnoSkel that has tremendous success in developing treatment for skeletal diseases. The latest deal is another addition to Jeito’s international portfolio and demonstrates its continued target towards backing female entrepreneurs, she added.
As per the statement made by Founder & Chief Executive Officer of InnoSkel, Elvire Gouze, the company aims at developing innovative gene therapy to treat various life-threatening skeletal diseases as there are no curative therapies available currently. The funding from investors like Vida Ventures and Jeito Capital will support its mission to offer life-altering therapies to treat patients with high unmet needs.