BioAxial Appoints CEO

BioAxial, a deverloper of live cell super resolution microscopy, has appointed Georges Tabary as its president and CEO.

BioAxial develops imaging instruments for fluorescence microscopy that allow extended imaging of live cells with a very high resolution, thus far difficult to reach in research laboratories. This module allows observation of living cells, without damaging them; unlike most of its competitors, Bioaxial technology also does not require complex manipulations.

“We are thrilled to welcome Georges to this leadership position,” said Frank Lison, Ph.D., chairman of BioAxial. “He has a proven track record developing new businesses and leading sales and marketing strategy for pioneering and highly advanced life science technology companies, such as Leica Microsystems, Intuitive Surgical, Technomed International, ELA Medical and Mauna Kea.”

In 2013 the company received funding from Amorçage Technologique Investissement (a fund managed by CEA Investissement), Inserm Transfert Initiative and ACG Management (formerly Viveris Management).

“We are enthusiastic about Georges joining; with his experience he will bring strategic leadership and market knowledge,” said Gabriel Sirat and Louis-Philippe Braitbart, co-founders of BioAxial. “His deep understanding of business needs will be instrumental in taking our company to the next level and we are determined to give him our full support and commitment to succeed as a team.”

The global microscopy market is poised to reach $5.76 billion by 2019 from $4.07 billion in 2014, at a compound annual growth rate of 7.2 percent, according to Markets and Markets data.

Tabary comes to BioAxial from Mauna Kea Technologies, where he was vice president of strategic accounts; prior to this he spent seven years with Leica Microsystems (Danaher Group), leading the company’s European surgical microscopy and histopathology businesses, overseeing strong growth in both areas. He was also president of Leica Microsystèmes SAS (France).

Prior to Leica, Tabary served as vice president and general manager for Intuitive Surgical Europe. He also spent nine years in Japan, where he was managing director for Technomed and healthcare business general manager Northern Asia for Air Liquide.

“I am delighted to be joining the BioAxial team,” said Tabary. “The super-resolution microscopy industry is today one of the fastest growing, supported by strong demand from life science companies. Microscopy is a key tool in the life science industry as it helps to accelerate research by combining scientific knowledge and technological know-how.”

BioAxial develops and sells CODIM, a new technology for super-resolved fluorescence microscopy for extended imaging of live cells with a resolution in the range of 100 nm. The modules manufactured by BioAxial can be adapted as an add-on for commercial microscopes. Founded in 2010, BioAxial is headquartered in Paris, France. It was founded by  Sirat and Braitbart, who both trained as physicists and have international careers in the semi-conductor and optical metrology industries. BioAxial raised 1.9 million euros ($2.1 million) in 2013 with three large investors – Amorçage Technologique Investissement (a fund managed by CEA Investissement), Inserm Transfert Initiative and ACG Management (formerly Viveris Management), and various individual investors.

CEA Investissement, a subsidiary of the CEA, is a specialist in seed investment in technology companies. Its proximity to public research laboratories and the venture capital industry has made it a key player in launching and financing startup companies in France. To date, it has funded more than 50 companies and currently has 110 million euros ($123 million) under management. With 15 years experience in seed investment, CEA Investissement has generated several successful exits, including companies such as TRACIT, ULIS, MOVEA and FERMENTALG. The investment in BioAxial was made through the Amorçage Technologique Investissement (ATI) fund, managed by CEA Investissement. The CEA, BPI (using the FNA), EDF, SAFRAN and BIOMERIEUX are investors in ATI.
 
Inserm Transfert Initiative (ITI) is a French investment fund dedicated to early-stage life science companies. Since 2001, ITI has backed more than 25 start-up companies in the healthcare sector and developed strong connections with public and private partners in France and around the world. This strong partnership, alongside ITI’s team, offers durable support to management teams of portfolio companies throughout their development. To date, ITI has approximately 40 million euros ($44.7 million) of funds under management dedicated to seed investment in life sciences. It has an office in Paris, France.

ACG Management is an independent French private equity firm dedicated to unlisted small-cap asset management strategies. Founded in 2000 and located in Marseille, it focuses on SMEs mostly located in France, in the overseas French territories and across the Mediterranean, with expertise in all strategies (buy-out, venture capital and growth capital).
ACG Management has raised or advised on more than 780 milliion euros ($872 million) worth of assets and invested in 316 SMEs through a wide range of 60 investment vehicles including retail and institutional funds.