Bryan, Garnier & Co has advised Adents, a provider of serialisation and traceability software, on a EUR12 million series C funding round, bringing the total amount raised by the company to EUR20 million in 18 months.
Pharmaceutical counterfeiting has been booming globally. Law and regulations requiring unit tracking and tracing of drugs packages have been issued in the US and in Europe.
Over the last few years, Adents has provides easily deployable serialisation and track-and-trace software solutions for the pharmaceutical and life sciences industries.
Serialisation is a way of ascribing small batches or even single packages individual identification codes. These codes allow drug manufacturers to track and trace their products throughout the supply chain. This allows for a variety of valuable tasks to be accomplished ranging from combating illegal drug counterfeiting to better ensuring drug delivery efficiency and patient safety.
As a result of the new regulations, thousands of packaging lines will have to be equipped to deliver serialised products before the end of 2017 in the US, and by the beginning of 2019 in the EU. Both regions represent strategic milestones in the worldwide move towards global serialisation of the drug industry.
Already well established in different industries, including food and spirits, Adents has built a strong track record in the pharmaceutical segment with several drug packaging lines equipped to date in Europe and the US.
The company has experienced significant growth since the announcement of a strategic collaboration with Siemens earlier this year. They continue to accelerate the global roll-out of its solution by concluding key partnerships with System Integrators and Technology Partners.
To date, more than two billion unique codes have been generated and managed globally using Adents software.
“This new round of funding addresses two strategic objectives for the company in the short term,” says Christophe Devins, CEO and founding partner of Adents. “First, we believe it will strengthen our partnership program, with a strong focus on the development of a powerful ‘solution partner’ network in the US. Second, it will support the penetration into promising new international markets, such as the Middle East and Asia.”
Although the new round of funding, led by Bryan, Garnier & Co, generated a great interest among prominent international investors, Adents’ executives chose NAXICAP, Omnes Capital and CapHorn Invest, all of whom have supported the growth of the company for many years.
Stéphane Fay, general manager at Adents, says: “Bryan Garnier’s team demonstrated tireless commitment throughout the process. Their strong expertise and understanding of our business and industries, at the crossroads of technology, software and healthcare, have been instrumental in raising interest from international investors, leading to the successful completion of this transaction.”
Olivier Beaudouin, partner at Bryan, Garnier & Co, says: “We are delighted to have assisted Adents in this new funding round which will give them the means to accelerate their international roll- out. We are proud to back one of the top ten funded software companies in France having raised a total of EUR25 million since the creation of the firm, of which EUR20 million was found over the last 18 months. This transaction further strengthens our leadership in industrial and infrastructure software, after deals such as Metrologic or Infovista.”
