Venture backers of French biotech companies are having a good July. On Monday this week, Cerenis Therapeutics S.A. was to announce a €40 million ($51.6 million) series C financing with a state-backed investor. And last week, investors in Trophos S.A. accepted an offer from Actelion Ltd. that could provide an exit within 18 months, while French drug delivery company Novagali Pharma S.A. completed its IPO.

This week's funding brings the total equity Cerenis has raised to €107 million. The company intends to use about 80% of the new money to finance Phase II development of lead compound CER-001, an HDL mimetic to treat cardiovascular disease.