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An innovation star for Europe
Date:9/30/2011

in the general population. This often results in patients not complying with their treatment programme. But the real potential of this project lies in the fast development of medical products based on biological compounds. 'This kind of medication is not adapted to go through the digestive system and often necessitates a recurrent use, injection is then the best solution' says Heinrich, now Chief Marketing Officer of the company.

R&D meets finance

From the very beginning of the adventure, CrossJect's strategy has been to actively look for venture capital support. One of the first venture capital companies to invest in CrossJect was Paris-based Gemmes Venture. 'CrossJect is one of the very first companies we invested in, so far we have injected in it 2,5 million euro' says Philippe Monnot, CEO of Gemmes Ventures and chair of CrossJect's supervisory board. 'It was obvious to me that the simplicity of the product and the straightforward nature of the business plan have been key to attract financing '.

Another crucial factor played in the start-up's favour: time. The common delay with commercialisation of research in the biotech sector is the long period of clinical trials. CrossJect, however, is not about testing new drugs but the development of a new way to administrate them. Consequently, the duration of clinical trials is minimal compared to other products aimed at the pharmaceutical market. 'We are talking about two years of clinical trials, when usually development of product development in this field implies a 10-year trial period' says Patrick Alexandre.

Technology comes before money

'The procedure to obtain public funding through the Eurostars Programme is astonishingly simple,' says Alexandre. Moreover, Eurostars has played an essential role in counterbalancing the risk-aversion of private investors and it has also enabled CrossJect to create a real partnership with a company with skills that could not be found in
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Contact: Piotr Pogorzelski
piotr.pogorzelski@eurekanetwork.org
32-277-70979
EUREKA
Source:Eurekalert

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