Truffle Capital has inaugurated its second office in Nice, called TCN (Truffle Capital Nice), while its headquarters remain in Paris.
Truffle Capital is an independent European venture capital company founded in 2001 and manages €700M in assets. It specializes in Life Sciences (Medtech and Biotech) and disruptive technologies in the IT sector (Fintech and Insurtech).
Truffle Capital’s mission is to support the creation and development of innovative young companies capable of becoming the leaders of tomorrow. Since its creation, Truffle Capital has raised more than 1.1 billion euros and has supported over 75 companies in the digital technologies and life sciences sectors.
Inauguration of Truffle Capital’s second office
The choice to establish itself in the Provence-Alpes-Côte d’Azur region appeared as an evidence for Dr. Philippe Pouletty, co-founder and CEO of Truffle Capital.
The region is capable of attracting top talent as well as internationally recognized experts in order to build a high-performing team, a decisive asset for growing high-tech SMEs.
In addition, the presence on the territory of renowned research centers and universities makes it possible, through partnerships, to develop young companies capable of competing with large groups in the field of innovation.
Truffle Capital’s Nice office is hosting the Caranx Medical laboratories at 400 Promenade des Anglais, close to the Nice Côte d’Azur airport and the Grand Arenas international business district.
Laboratoires Caranx Medical
Two years after its creation by the Truffle Capital Fund with a total investment of 2.8 million euros, Caranx Medical already has a complete development team and is showing significant progress.
Caranx develops autonomous robots for endovascular surgery (heart valve replacement) or endoscopic surgery (obesity surgery) in a fully automated way.
This radical revolution will provide clinicians with greater standardization and safety in complex surgical procedures (such as a pilot landing an Airbus in the fog with the help of autopilot) while maintaining monitoring and control of the procedure.
The combination of imaging data from thousands of patients, artificial intelligence, and mini-robotics allows Caranx to transform complex procedures previously reserved for a few highly trained surgeons into standard procedures accessible to a wider range of clinicians and patients.
The location of its laboratories, facing the airport and with a view of the sea, contributes to the creativity and productivity of the Caranx teams. The team organized around Dr. Eric Séjor (Chief Medical Officer), former surgeon at the CHU of Nice, and Pierre Berthet Rayne, Ph.D. (Technical Director), former engineer at Imperial College of Science, Technology and Medicine in London, already has a staff of 11 people (+3 interns) and 8 nationalities, who have been attracted by Caranx and the region.
A board chaired by Dr. Dr. Philippe Pouletty and a scientific advisory board have been established: 18 international experts (doctors, surgeons, engineers, entrepreneurs, and renowned researchers). An autonomous endovascular robot and an autonomous endoscopic robot are currently in the prototyping phase. Several iterations are expected to aim for animal testing (for preclinical validation) starting in 2022 and the first human trials starting in 2023.
Already made investments in the Sud – Provence-Alpes-Côte d’Azur region
Truffle Capital has previously established innovative MedTech and BioTech companies in the region. Indeed, 4 out of the last 11 BioMedTech companies funded by Truffle Capital, including Caranx Medical, have offices or R&D laboratories in the Provence-Alpes-Côte d’Azur region:
- Skinosive has established its laboratory in Marseille and employs 5 people – the company develops bioadhesive technologies to increase the efficiency and reduce the potential toxicity of UV filters and other compounds in dermocosmetics.
- Diaccurate, a biotech company that develops first-in-class anti-cancer and anti-viral drugs based on new mechanisms in immuno-oncology, has also recently established its R&D laboratory in the same building as Skinosive, at 60 avenue André Roussin in Marseille, with plans for 10 employees to be based at this site. Diaccurate has just announced the acquisition from Merck AG of an anti-cancer drug candidate to strengthen its existing portfolio of “sole-in-class” drugs in oncology and immunotherapy, making Diaccurate a clinical-stage company.
- Affluent Medical, a MedTech company that develops innovative and minimally invasive next-generation implants for the treatment of heart disease, vascular diseases, and urinary incontinence, is headquartered in Aix-en-Provence, at 320 Archimedes Avenue, and employs 25 people at this site. This company was listed on Euronext Paris last June, marking Truffle Capital’s 11th BioMedtech company to go public on this market, and is now in an advanced clinical stage.
In total, these 4 companies developing radically innovative medical devices and drugs already employ around 60 people in the region.
The choice of the French Riviera
Truffle Capital can rely on the support of Team Côte d’Azur, a dedicated entity for the development of exogenous investment, attracting businesses, talents, creating jobs, and wealth in the local ecosystem.
The establishment of a fifth company, in the fields of dermo-cosmetics and neurostimulation, in Nice is under consideration.
Truffle Capital doesn’t plan on stopping there. With its new late-stage fund, Truffle MEDEOR, currently being raised, which aims to support French BioTech and MedTech companies to become leaders of tomorrow, with a total target size of 600 to 800 million euros over about 15 investments, Truffle Capital would have additional resources and significant firepower to enable the French BioMedTech ecosystem, and the PACA region in particular, to shine on the world stage.
Dr. Philippe Pouletty, Co-founder and CEO of Truffle Capital and Chairman of Caranx Medical, comments:
« As a pioneer for the past twenty years in disruptive innovation in the fields of biotechnology and medical devices, Truffle Capital has chosen Nice to set up its first regional office, which already reflects the successful establishment of some of our companies but also the considerable potential of our more recent projects. The geographical, economic, and public environment of Nice and the PACA region is a real asset in supporting the ambition of our entrepreneurs. ».
Dr. Eric Séjor, Chief Medical Officer of Caranx Medical, adds:
« Caranx Medical aims to develop a new generation of surgical robots. And Nice offers all the necessary attractions to make this development a success. We are very excited to take this promising next step in our young history. ».
For Christian Estrosi, Mayor of Nice, President of the Nice Côte d’Azur Metropolis, and Deputy President of the Provence-Alpes-Côte d’Azur Region:
« The installation of Caranx Medical in our territory once again reflects the dynamism of our health innovation ecosystem that attracts exceptional talents and projects. I thank Dr. Pouletty for choosing Nice to establish the headquarters of Caranx Medical, whose innovations will revolutionize the practice of surgery. This installation reflects the vitality of our health innovation ecosystem, which attracts exceptional talents and projects. The presence of Caranx Medical, supported by the investment fund Truffle Capital, will contribute to the economic development of the Nice Côte d’Azur Metropolis and facilitate the growth of companies specialized in medical devices and biotechnologies in our region. »