ONCODESIGN Secures US $4.7 Million in Financing

2008-06-02 23:52:26 -

www.oncodesign.com - Oncodesign S.A, a French privately-held biotechnology company and one of the leading providers of preclinical services in Oncology, announced today a $4.7 million (Euros 3 million) financing led by new investor "Vizille Capital Innovation". An existing investor "Avenir Entreprises" was also participating to this financing round.

Oncodesign will use the proceeds from this financing to complete their

growth in North-America as well as to enhance their leading position as a partner of choice for biotechnology and pharmaceutical companies to develop new anticancer drugs from discovery and preclinical stage to first clinical trials in man.

"We are delighted to have Vizille Capital Innovation as an investor. Not only does Vizille Capital Innovation has outstanding experience in the biotechnology market, they are well-poised to significantly step up our international growth" said Philippe Genne, Ph.D., Chairman and Chief Executive Officer of Oncodesign. "This financing is a clear recognition of the value of Oncodesign's unparalleled experience and expertise as well as our potential of growth".

"Vizille Capital Innovation's focus is on companies with strong domain expertise. We are very impressed with the Oncodesign's unique technology platform that was designed from its inception to discover, to validate and to speed-up the development of new drugs in Oncology" said Karine Lignel, Investment Director of Vizille Capital Innovation. "We are enthusiastic to contribute our financial and strategic resources to this promising company".

About Vizille Capital Innovation

CIC - Vizille Capital Innovation is the venture capital subsidiary of the CIC - Banque de Vizille Group. Its objective is to invest in promising technology companies in their early stages of development with a high growth potential in dynamic sectors such as information technologies, telecommunications, electronics, life sciences, new materials, and the environment. CIC - Vizille Capital Innovation's policy is aimed at providing assistance over time (5-7 years) to high-tech start-ups, which will ultimately lead them on the right track to succeed. This involvement is achieved by working closely with the company through advices and networking, but without interfering in the day-to-day management of the company. Investment levels are suited to each case - usually between EUR 0.5 and EUR 3 million -. and injected gradually in several phases, as development needs rise.

About Oncodesign

Created in 1995 in Dijon (France) with an affiliate in Montreal (Canada), Oncodesign is one of the leaders in preclinical and translational research of anti-cancer therapies. With services ranging from in vitro and in vivo proof-of-concept studies to mechanistic and translational studies, Oncodesign has worked with over 200 pharmaceutical companies worldwide, conducted more than 1000 studies and has experience with many different compounds and reference anticancer drugs. Oncodesign's unrivalled technological platform includes muMRI and muPET imaging facilities, an extensive choice of tumor models and an expertise in biomarkers. These combined skills position molecules along the most efficient development programs. For more information about Oncodesign, please visit: www .oncodesign.com

Vizille Capital Innovation
Karine Lignel, (33) 4 72 56 93 44
k.lignel@banquedevizille.com
or
Oncodesign.SA.
Laurent Gonthiez, CFO
(33) 3 80 78 82 60
lgonthiez@oncodesign.com