Adents raises €12m to support development of a global network of serialisation solution partners
Will also enable the firm to gain a foothold in new international markets
Adents, a French serialisation and traceability software specialist, has raised funding of €12 million, bringing the total amount invested in the French firm over the last 18 months to €20m.
This increase in capital was signed by Adents’ long time investors Naxicap Partners, Omnes Capital and CapHorn Invest.
The firm says the new funding will primarily support the further development of its global network of 'solution partners' and expansion in new international markets.
Adents provides serialisation and track-and-trace software solutions for the pharmaceutical and life sciences industries.
Serialisation assigns small groups or even single packages with individual identification codes. These codes allow drug manufacturers to track and trace their products throughout the supply chain, which accomplishes a variety of important tasks such as combating illegal drug counterfeiting and better ensuring drug efficacy and patient safety.
The funding will primarily support the further development of its global network of 'solution partners' and expansion in new international markets
Serialisation will be implemented on thousands of packaging lines in the US before the end of 2017 through the Drug Supply Chain Security Act (DRCSA), and by the beginning of 2019 in the European Union through the EU Falsified Medicines Directive (EU FMD). Both represent strategic milestones in the serialisation market, the firm says.
At the same time, Adents says it has experienced significant growth since the announcement of a collaboration with Siemens earlier this year.
'This new round of funding addresses two strategic objectives for the company in the short term,' said Christophe Devins, CEO and Founding Partner of Adents.
'First, we believe it will strengthen our partnership programme, with a strong focus on the development of a powerful solutions partners network in the US. Second, it will support the penetration into promising new international markets, such as the Middle East and Asia.'
Adents Pharma Suite serialisation software is said to help secure implementation lead times up to five times faster than other solutions, and enables drug manufacturers to address all current and emerging regulatory requirements pertaining to drug serialisation.
To date, more than two billion unique codes have already been generated and managed globally using Adents software.
