Adjuvatis

What Adjuvatis does

Adjuvatis SAS is a privately held French formulation services and product company headquartered at Bioparc Lyon (60 avenue Rockefeller, bâtiment Laënnec), founded in December 2013 to commercialize the i-Particles® technology originally developed in 2003 by a joint research unit between CNRS and bioMérieux. The company manufactures and supplies proprietary safe-by-design, surfactant-free, biodegradable poly-lactic-acid (PLA) nanoparticle delivery systems — i-Particles® (~200 nm) and the second-generation i-LipoP® (~230 nm, lipid-coated for nucleic acid vectorization including mRNA) — sold in plain, active-loaded and fluorescent/dyed variants, together with personalized formulation services (design, development, scale-up, characterization) and analytical services based on a Malvern Zetasizer Ultra Red platform.

The company serves pharmaceutical and biotech firms, vaccine developers, diagnostics companies and academic/research institutions, addressing challenges such as poor aqueous solubility of hydrophobic APIs, targeted and sustained delivery, vaccine immunogenicity enhancement, and the need for eco-compatible, biocompatible carriers. Commercial reach is delivered through direct B2B engagement for custom formulation projects and through specialty biotech distributors Tebubio and CliniSciences for catalog products; pipeline and applied research is supported by an extensive network of academic and institutional partners including CNRS, bioMérieux, INSERM, CEA, Université Lyon 1, IBCP, and European consortia such as ADITEC, DRIVE (H2020 ITN) and EuroNanoMed (FluNanoAir), with funding from BPI France, ANR and DGA.

Operationally, Adjuvatis is a micro-capability entity: a 1–10 employee team led by CEO Charlotte Primard, COO David Da Costa (PhD) and founders Bernard Verrier (PhD, Scientific Referent) and Bernard Mandrand (PhD, Senior Consultant), structured as an SAS with €50,000 share capital, no disclosed institutional investors, no disclosed revenue, and no funding rounds in the public record. The business model combines low-ticket catalog sales, quote-based custom formulation projects, and grant/consortium co-funding, which together suggest a research-services orientation rather than a scaled commercial product franchise at present.

Name

Adjuvatis

Legal name

ADJUVATIS

Website

https://adjuvatis.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Adjuvatis is a Lyon-based French SAS (founded 2013) that develops and manufactures surfactant-free, biodegradable PLA-based nanoparticle drug delivery systems (i-Particles® and i-LipoP®) for pharmaceutical, biotech, vaccine and academic customers via catalog sales, custom formulation services and specialty distributors.

Ownership category

akta.pro rank

Product category

Pharmaceutical Drug Delivery Systems

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical and Medicine Manufacturing (3254)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Vaccine Adjuvants & Formulation Systems (HLAIAEAI)

akta.pro secondary industries

Non-viral Gene Delivery & Gene Therapy (LNP, polymers, electroporation, physical methods) (HLAAACAC), Biodegradable Polymers & Resins (PLA, PHA, PBS, PBAT) (IMAEAOAA)

Keywords

• Pharmaceutical formulation
• Drug delivery systems
• Vaccine adjuvants
• Nanoparticle delivery
• Contract formulation services

Headquarters

HQ city

Lyon

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Supply Chain, Marketing or Sales

Revenue model

1. Product Sales: Sale of i-Particles® and i-LipoP®-based products in various forms: plain, active-loaded, and fluorescent/dyed variants. Products available in different sizes and configurations for research purposes.
2. Custom Formulation Services: Full-service API formulation offering from design through development, characterization, and customer support. Services include pharmaceutical data collection, loading prediction, feasibility studies, formulation optimization, medium/large scale production, and full study reports.
3. Analytical Services: Characterization services for i-Particles® and i-LipoP® formulations using Malvern Zetasizer Ultra Red. Includes colloidal analysis, physico-chemical characterization, and in vitro/in vivo evaluation.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Adjuvatis formulates and manufactures proprietary safe-by-design drug delivery systems based on biodegradable PLA polymer nanoparticles, including its i-Particles® platform and the lipid-coated i-LipoP® variant for nucleic acid and mRNA delivery. The company sells catalog nanoparticle SKUs (plain, active-loaded, and fluorescent variants) and offers custom formulation development and analytical services to pharmaceutical, biotech, and research organizations.

Product overview

Adjuvatis offers a portfolio centered on two proprietary delivery platform technologies — i-Particles® (surfactant-free PLA-based polymer particles, average 200 nm) and i-LipoP® (i-Particles® core coated with a lipidic bilayer, ~230 nm, for nucleic acid vectorization) — sold as catalog products in plain, active, and fluorescent/dyed variants. The company complements its product catalog with a full personalized formulation service (design, development, characterization, support) and analytical services (Malvern Zetasizer-based colloidal and drug analysis, in vitro/in vivo evaluation). An i-LipoP® mRNA transfection kit is available through the distributor Tebubio.

Differentiator

Problem solved

Functional benefit

Products and services

• i-Particles®

Quantifiable outcome

• ≥79% encapsulation efficiency for certain APIs (e.g., panicein A hydroquinone)
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

16 partnerships are on record, tiered core, major and minor.

• CNRS (French National Center for Scientific Research)coreTechnology or IntegrationOrigin of i-Particles® technology - developed in 2003 by joint research unit between CNRS and bioMérieux. Ongoing academic partnership for research and development.
• bioMérieuxcoreTechnology or IntegrationCo-developed i-Particles® technology in joint research unit with CNRS. bioMérieux is a global leader in in vitro diagnostics.
• Université Lyon 1coreTechnology or IntegrationAcademic partner providing research collaboration and access to scientific expertise in chemistry, biology, and pharmaceutical sciences.
• Lyon BiopolecoreStrategic or Co-development PartnerBioparc Lyon ecosystem partner providing access to biotech cluster, networking opportunities, and collaborative innovation events.
• IBCP (Institute of Biology and Chemistry of Proteins)coreTechnology or IntegrationResearch partnership for drug delivery and formulation development. Located in Lyon, providing laboratory and research resources.
• CEA (Commissariat à l'Énergie Atomique)majorTechnology or IntegrationFrench Alternative Energies and Atomic Energy Commission. Research collaboration including ASIO project and FluNanoAir European project.
• INSERMmajorTechnology or IntegrationFrench National Institute of Health and Medical Research. Partnership in ASIO project and various research collaborations.
• DRIVE (European Innovative Training Network)majorStrategic or Co-development PartnerH2020-funded ITN with 15 beneficiaries and 20+ partner organizations. Project: Driving next generation autophagy researchers towards translation (2017-2021).
• FASTCURE ConsortiummajorStrategic or Co-development PartnerCOVID-19 response consortium including Innophore, University of Graz, and acib. Focused on screening, identification and formulation of compounds to combat SARS-CoV-2.
• PULSALYSminorStrategic or Co-development PartnerTechnology transfer office and innovation accelerator in Lyon ecosystem.
• Cilian AGmajorStrategic or Co-development PartnerGerman biotech company and ADITEC consortium partner. Joint development of recombinant influenza vaccine using Tetrahymena thermophila-derived haemagglutinin combined with i-Particles®.
• Imperial College LondonmajorTechnology or IntegrationAcademic partner in ADITEC consortium for vaccine research. Department of Infectious Disease involved in influenza vaccine studies.
• University of SienamajorTechnology or IntegrationItalian academic partner in vaccine development research through ADITEC consortium.
• Université Côte d'Azur / CNRS / IPMCmajorStrategic or Co-development PartnerCollaborative research on solubilization of marine sponge compound (panicein A hydroquinone) for anti-cancer treatment against drug-resistant melanoma.
• TebubiomajorChannel Partner/ Reseller/ DistributorOfficial distributor for i-LipoP® mRNA transfection kit.
• CliniSciencesmajorChannel Partner/ Reseller/ DistributorDistributor for i-Particles® and i-LipoP® product catalog.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Novavax: Novavax develops recombinant nanoparticle vaccines and Matrix-M adjuvant. It represents a large-scale vaccine company that Adjuvatis's i-Particles® adjuvant technology could partner with or compete against in the vaccine adjuvant market.
• Evonik Industries: Evonik operates a major pharmaceutical CDMO business with specialty excipients, lipid excipients for RNA delivery (e.g., PhytoChol, lipids for LNPs), and formulation services. It competes with Adjuvatis in the pharmaceutical formulation and lipid-based delivery supply market.
• CureVac: CureVac is a clinical-stage mRNA therapeutics company developing prophylactic vaccines and molecular therapies. While it is much larger and integrated (its own pipeline rather than a delivery platform), it competes in the same end market (mRNA vaccines) that Adjuvatis's i-LipoP® technology is positioned to serve.
• Croda International: Croda's Life Sciences division produces vaccine adjuvants (e.g., squalene emulsion systems) and specialty excipients for drug delivery. Its adjuvant portfolio is a broad incumbent option in the same vaccine-adjuvant and drug-delivery markets Adjuvatis serves.

Direct peers

• Acuitas Therapeutics: Acuitas is a Vancouver-based specialist in lipid nanoparticle (LNP) delivery systems for mRNA therapeutics, including the LNP technology used in Pfizer-BioNTech's COVID-19 vaccine. It is a direct peer to Adjuvatis in the nucleic acid and mRNA delivery platform space, with both companies commercializing proprietary nanocarrier systems to pharma and biotech partners.
• Precision NanoSystems (Cytiva): Precision NanoSystems (now part of Cytiva/Danaher) develops microfluidic-based manufacturing of lipid nanoparticles for nucleic acid delivery. Both companies sell nanoparticle delivery platforms and formulation services to pharma/biotech customers, making Precision Nanosystems a direct commercial peer to Adjuvatis.
• Polymun Scientific: Polymun Scientific is an Austrian CDMO specializing in liposomal formulation and GMP manufacturing of nucleic acid (mRNA, siRNA) drug products. Both companies are European formulation specialists offering custom development and analytical services to pharma/biotech customers.
• Arcturus Therapeutics: Arcturus develops LNP-enabled mRNA vaccines and therapeutics, including its STARR self-amplifying mRNA platform. The company is a direct competitor to Adjuvatis in LNP-based nucleic acid delivery, with overlapping pharma partnership and vaccine development ambitions.
• Genevant Sciences: Genevant is a lipid nanoparticle (LNP) delivery technology company developing RNA-based therapeutics. Its siRNA-LNP work with Alnylam/Roche and broader nucleic acid delivery platform directly overlaps with Adjuvatis's i-LipoP® offering for mRNA/dsRNA/DNA vectorization.

Emerging players

• Cilian AG: Cilian is a German biotech developing recombinant vaccines using Tetrahymena thermophila expression systems, and is an active co-development partner of Adjuvatis (ADITEC consortium for recombinant influenza vaccine with i-Particles®). It represents an emerging player in vaccine development that depends on delivery platforms like Adjuvatis's.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/adjuvatis
• LinkedInfr.linkedin.com/company/adjuvatis

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Adjuvatis