Morgan Lewis has advised leading New York-based venture capital firm, New Science Ventures, in a €24 million (approximately $27 million) series C equity fund raising by French technology company, Isorg.
Two funds managed by New Science Ventures were the lead investor on the transaction, followed by BpiFrance, through its Large Venture fund, Financière Fonds Privés (FFP) and existing shareholders, Sofimac Innovation (FCPI Emergence Innovation 1 and Limousin Participations funds), CEA Investissement and Dynalim. The transaction closed on September 27, 2018.
New Science Ventures is a leading venture capital firm which invests in companies using science-based innovations in the life sciences sector, including in pharmaceuticals, biologics, medical devices, and diagnostics. This is in addition to investments in the information technology sector, entailing high-performance semiconductors, cellular infrastructure, sensor networks, enterprise software, and storage.
Isorg is engaged in the development of organic and printed electronics devices for large-area photodetectors and image sensors. Its devices convert plastic and glass surfaces into smart surfaces, offering a new generation of high-performance imagers with 3D product integration capability, allowing for the recognition of any shape and form factors.
This is the second French venture capital deal in which the firm has advised in 2018, having also represented OrbiMed in its role as lead investor on the €40 million (approximately $46 million) series B equity financing of French biotechnology company Enyo Pharma, a transaction which closed in June.
The team advising New Science Ventures was led by partner Stephen Walters and included associates Victoria Régis, Allison Soilihi, and Xavier Martin.