France-based drugs company Sanofi has led the series B round for US-based Esperance Pharmaceuticals by investing $4.5m.
Sanofi, which has dropped Aventis from its name after completing the acquisition of peer Genzyme last month, joined a consortium investing $7.5m in total in Esperance, which is development treatments for cancer.
The other members of the consortium are university venturing-focused Louisiana Fund I, Themelios Ventures (which works with Pennington Biomedical Research Center), Research Corporation Technologies and Advantage Capital Partners/Louisiana Technology Fund.
Hector Alila, executive president of Esperance, said: "We are extremely pleased to welcome Sanofi as an investor and strategic partner to Esperance and we are grateful for the unanimous, continued support of our current investors."
The company had previously raised $6m in October 2006.