Eurazeo’s Nov Santé Actions Non Cotées Fund pumps money into Oncodesign Services

Oncodesign Services is a European pre-clinical research and drug discovery company.

  • Eurazeo is a European investment group with €33.5bn in diversified assets
  • The transaction was made alongside management and ERES IV SLP
  • The acquisition will boost Oncodesign Services’ revenue to €44m

The Nov Santé Actions Non Cotées Fund, managed by Eurazeo, has acquired a minority stake in Oncodesign Services, a European pre-clinical research and drug discovery company, for €22 million.

The transaction was made alongside management and ERES IV SLP, a fund managed by Edmond de Rothschild Private Equity (France) and advised by Elyan Partners.

Dijon and Les Ulis, France-based Oncodesign Services was created when the Oncodesign group was divided into two independent companies in 2022, Oncodesign Precision Medicine and Oncodesign Services, whose acquisition by ERES IV involved Elyan Partners as advisor in 2022.

The acquisition will boost the group’s revenue to €44 million and its headcount to around 280, including around 50 based in Leiden in the Netherlands.

The investment will enable Oncodesign Services to provide a wide range of pre-clinical research services and accelerate its international expansion, according to a release.

“The outsourcing of pharmaceutical research services is a fundamental trend around the world,” said Arnaud Vincent, MD of the Nov Santé Actions Non Cotées fund. “To ensure that we are self-reliant in healthcare, it is vital that we keep leading players in this field within France and Europe. The aim is to support scientific know-how in drug discovery, the first link in the healthcare chain.”

The investment increases the resources at Oncodesign Services’ disposal to fund further acquisitions and allows it to benefit from the fund’s expertise as an investor specialising in life sciences, the release said.

Eurazeo is a European investment group with €33.5 billion in diversified assets under management. It has offices in Paris, New York, London, Frankfurt, Berlin, Milan, Madrid, Luxembourg, Shanghai, Seoul, Singapore and Sao Paulo.

In mid-January, Nov Santé Actions Non Cotées Fund finalised its first growth equity investment in Kinvent.