Antoine Papiernik

Thank you, Sam.

It's a pleasure to see you.

Did you want to add a little bit?

Well, yeah, just to remember indeed that we've met 25 or so years ago.

And at the time, I joined this firm 28 years ago.

And at the time, we had one strategy.

That was the capital strategy that was investing out of its fund too when I joined in 97, which was a 47 million euro fund.

And I have to say, we did, in hindsight, miracles with very small amounts of money.

but we're also very very happy that we now have a lot more money so from this 47 million euro fund and we had a fund one that was 38 million euros so less than 100 million basically to do what we do and indeed today we've grown in multiple ways but just capital 11 being at 650 million euro you can see how much more we can do with a lot more money i think you know things have changed in biotech we need

More money to get to where you want to go, particularly if you want to reach your ultimate goal.

And super happy to be in this position today, despite the environment.

I'm sure we'll talk about the environment, but despite this, you know, I'm the optimist and I think, you know, we've gone a long way in Europe and we're right that way.

Yeah, so our motto is that we invest in people and science.

And of course, people often count a lot in this equation.

But I would say most investors would say the same, people and science.

I think the way we've grown is that we have

try to capture a lot of the different elements of the ecosystem, meaning we have strategies.

We have indeed seven different strategies and multiple funds within those strategies from super early acceleration incubation here.

My partners in those strategies, both in biotech and medtech, are in fact entrepreneurs.

They take those projects off