A fledgling crowdfunding effort in France has claimed success in completing a rare “virtuous circle” in launching a biotech startup.
WiSEED founders Nicolas Seres and Thierry Merquiol say they helped launch Antabio–an antibacterial drug discovery outfit–with funds from more than 200 small investors. And two days ago they exited with what they call a “fair return” for the risk involved.
“It is the very first complete virtuous circle for crowdfunding applied to biotech start-ups,” the pair says in a prepared statement. And they’re claiming nothing less than the start of a financing revolution, raising the prospect that the collective financial power of many small investors can make a big difference in funding new drug developers.