Deal round up 11/07/02

European VCs back Addex growth; InfoCyclone attracts $7m

European VCs back Addex growth

Addex Pharmaceuticals announced the closing of a E10m first round financing co-led by Index Ventures and Sofinnova Partners. Other investors include TVM (Techno Venture Management), BCV Initiative Capital and individual investors.

Addex Pharmaceuticals is a biopharmaceutical company involved in the discovery, development and marketing of new therapeutic compounds for the treatment of addiction across a range of substances, including nicotine, alcohol, cocaine and opiate dependence.  

Antoine Papiernik, partner at Sofinnova, and Richard Rimer, partner at Index Ventures, are joining the firm’s board.

InfoCyclone attracts $7m

Tamir Fishman Ventures and West STEAG Partners of Germany have led the latest round of financing in InfoCyclone, an Israel database and application performance firm headquartered in Tel Aviv. Seed investors, Gemini Israel Funds and Intel Capital, also contributed to the $7m round.

Ran Giladi and Michael Shurman founded InfoCyclone in September 2000. The company has been backed by Gemini, their leading seed investor, which has been actively involved in building the company and sourcing this round of financing. The firm plans to use the funding to develop its market position in the US and Europe.