Inserm Transfert Initiative (ITI) is a French investment firm, based in Paris, investing in early-stage life sciences companies. We focus on companies working on breakthrough innovations with the potential to become therapeutic solutions that will benefit society



Key facts



  • €40m under management
  • Focusing on French seed investment opportunities
  • Fully dedicated to healthcare including therapeutics, medical devices and diagnostics
  • Investment range: €1m - €3m
  • Team of experienced investor professionals
  • Invested in over 25 companies since 2005
  • Strong connections with French public research institutes
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About us

Our Story

imgaboutInserm Transfert Initiative (ITI) was created under the initiative of Inserm, the French National Institute of Health and Medical Research. Inserm is a biomedical and public health research institution with nearly 15,000 researchers, engineers, technicians and post-doctoral students as well as over 300 laboratories. It is the number one academic and clinical research organisation dedicated to human health in Europe.

In 2005, Inserm give Inserm Transfert — the Inserm private subsidiary for scientific tech-transfer — responsibility to establish a new fund, ITI, with the aim of creating a complete ecosystem around academic research institutions and addressing the need to finance early-stage life sciences companies. Together with Inserm Transfert, 3 investment funds - BPI France, Sofinnova Partners and Ventech - supported ITI’s inception.

In 2011, ITI raised €35.5 million from Inserm Transfert, BPI France (through the “Fonds National d’Amorçage”) and 10 pharmaceutical companies, making it one of the largest French life sciences seed investment funds.

ITI has developed a strong ecosystem of close partners, including:

  • Academic institutions: Inserm, CNRS, Pasteur Institute and other members of Aviesan, the French National Alliance for Life Sciences and Health,
  • Pharmaceutical and biotech companies,
  • Leading venture capital firms.

These strong connections with public and private partners will facilitate finding, seeding and growing our portfolio companies.


Management Team


Current portfolio


AAV-based gene therapy for genetic diseases including Friedreich’s Ataxia (cardiomyopathy)

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Cannabinoid receptor antagonist therapies for central nervous system disorders


Robotized systems for Transcranial Magnetic Stimulation (TMS)


Super-resolution modules for optical microscopes


Modulation of DNA repair to sensitize tumors to chemo- and radio-therapy

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Monoclonal antibody acting on co-stimulation of T cells for autoimmunity and transplantation


Treatments targeting intracellular targets to control viral replication


Non-viral gene therapy for ocular diseases


Genomic services


Development of oxygen-carriers from a marine organism


New drug targets for the treatment of Inflammatory Bowel Disease


Therapies for acute inflammatory processes in critical care setting


Monoclonal antibodies for cancer


Small molecule for inner ear disorders (vestibular and/or cochlear disorders)


Detection and analysis of circulating tumor cells


Second generation vaccines to prevent meningitis


New class of inhibitors for the treatment of autoimmune diseases


Treatment for rare forms of dwarfism such as achondroplasia


Vaccines based on an improved peptide technology focusing on cancer indications



Inserm Transfert Initiative (ITI) raised €35,5 million in 2011 and was supported by public and private organizations as well as pharmaceutical companies. In 2005, investment funds also participated in ITI’s inception alongside Inserm Transfert.



Jacques Mizrahi spent the past 25 years in drug discovery and translational medicine in several pharmaceutical companies including GSK, Eli Lilly and Roche. At Roche (Basel, Switzerland),  he directed the Global Therapy Area of Metabolic and Cardiovascular Diseases and before that has been in charge of the

Clinical Research and Exploratory Medicine in the same area.

Jacques is a board member of Aelis Farma (Bordeaux, France), Elsalys Biotech (Strasbourg, France) and is a founder of Inception IBD.  He has been appointed recently as Chairman of the Scientific advisory commitee  of Inserm Transfer Initiative (ITI).

Jacques was trained at the Physiology-Pharmacology department of the University of Sherbrooke-medical school (Canada) and completed his Post-doctoral studies at Inserm in the department of vascular pathology and renal endocrinology (Inserm unit 36).



5/7 rue Watt
75013 PARIS

Tel : +33 1 55 03 01 00

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  • By metro, Line 14 - Station Bibliothèque François Mitterand
  • By RER, RER C - Station Bibliothèque François Mitterand
  • By bus, n° 62 - 89 - Station Porte de France and n° 325 - station Watt
  • By tram, n°3a - Station Porte de France