NEW YORK (GenomeWeb News) - Ariana Pharma, a Paris-based provider of drug discovery software tools, said today that it has raised €1.5 million ($2.3 million) through a private placement.
Vizille Capital Innovation, a subsidiary of the Crédit Mutuel - CIC bank, was the sole investor in the round and gained a minority stake in the firm. VCI joins Ariana's existing shareholders, the Pasteur Institute and company management.
Ariana was founded in 2003 and has been self-funded until now. Its flagship product, called KEM, for knowledge extraction and management, is a data-mining software platform that can “identify relations that link both molecular features and the results of early tests with the risk of adverse events,” the company said.
Ariana’s customers include Pfizer, GlaxoSmithKline, Novartis, and Lundbeck.
The company said it plans to use the new funding to strengthen its sales and marketing efforts and to add new functionality to KEM that will “enhance its use in clinical trials and drug safety domains, interfacing with current industry standards and providing the new ability to detect early signals.”