# TreeFrog Therapeutics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/treefrog-therapeutics

- Industry: Biotechnology
- Headquarters: France
- Website: www.treefrog.fr
- Total disclosed funding: $56M
- Latest round: Series B (Sep 13, 2021)
- Investors on record: 10

## About

Based in France, TreeFrog Therapeutics focuses on developing advanced cell therapies, particularly for regenerative medicine, with innovative approaches to treat challenging diseases such as Parkinson's Disease.TreeFrog Therapeutics, established in 2018 in France, specializes in advanced cell therapies. The company was co-founded by Erwan Bezard and Kévin Alessandri, and operates its headquarters in Bordeaux. As of now, the firm has successfully executed 6 deals, with its most recent funding round, a Series B, closing on May 27, 2025, securing EUR 40.645 mn led by Bpifrance and joined by investors including Aquitaine Capital and Bristol-Myers Squibb Company. The total amount raised since inception stands at EUR 40.645 mn, with a current company valuation of EUR 65.309 mn.TreeFrog Therapeutics specializes in the development of advanced cell therapies, focusing primarily on regenerative medicine. The company's key product targets Parkinson's Disease, utilizing a proprietary 3D microtissue format that enhances cell survival and ensures effective dose control. This is made possible through their innovative C-Stem™ technology platform, which incorporates GMP-compliant encapsulation, allowing for large-scale production of over 1,000 capsules per second. The firm is also working on therapies for liver disease and aims to address additional significant diseases through its proprietary pipeline, targeting healthcare institutions and partners across North America, Europe, and Asia.In the most recent year, TreeFrog Therapeutics reported revenue of EUR 575,573.2. The company has raised a total of EUR 40.645 mn since its founding to support R&D initiatives in stem cell technology, with a structured revenue model based on partnerships and out-licensing agreements for its C-Stem™ technology. This model facilitates B2B transactions with healthcare organizations and research entities, including terms for upfront payments, milestone payments, and royalties.TreeFrog Therapeutics plans to utilize the EUR 30 million raised in venture debt funding from the European Investment Bank in May 2025 to advance its lead cell therapy program for Parkinson’s Disease into clinical phases. The company is also focused on the development and launch of new therapies targeting liver diseases and expanding its reach into global markets, particularly in North America and Europe, by leveraging its innovative C-Stem™ platform.

## Funding rounds

- Series B, Sep 13, 2021, $48M — Leonard Green & Partners, XAnge, Bpifrance, Bristol-Myers Squibb Company, IRDI SORIDEC Gestion, Aquitaine Capital
- Series A, Jun 7, 2019, $7M — XAnge, Galia Gestion, Aquiti Gestion, Irdi Capital Investissement, Aquitaine Science Transfert
- Seed, Feb 7, 2019, $0.7M — Aquiti Gestion, Irdi Capital Investissement, Aquitaine Science Transfert

## Investors

- Aquiti Gestion (https://capitalatlas.ai/funds/aquiti-gestion) — Seed, Series A
- Irdi Capital Investissement (https://capitalatlas.ai/funds/irdi-capital-investissement) — Seed, Series A
- Aquitaine Science Transfert (https://capitalatlas.ai/funds/aquitaine-science-transfert) — Seed, Series A
- XAnge (https://capitalatlas.ai/funds/xange) — Series A, Series B
- Galia Gestion (https://capitalatlas.ai/funds/galia-gestion) — Series A
- Leonard Green & Partners (https://capitalatlas.ai/funds/leonard-green-partners) — Series B
- Bpifrance — Series B
- Bristol-Myers Squibb Company — Series B
- IRDI SORIDEC Gestion — Series B
- Aquitaine Capital — Series B