Promethera Biosciences, a Mont-Saint-Guibert, Belgium-based clinical stage pharmaceutical company that develops innovative therapies for the treatment of liver diseases, completed a €25.33m ($31.4m) Series C funding round.
The round, which included €20.33m in capital, was led by existing investors Vesalius Biocapital and Boehringer Ingelheim Venture Fund with participation from SRIW; Shire, Mitsui Global Investment, Pall-ATMI LifeSciences; Vives-Louvain Technology Transfer Office Fund and new investors SFPI-FPIM and SMS Investments.
In addition, the Walloon region has granted loans and subsidies of €5m.
The company intends to use the funds for the clinical development of HepaStem and the collaborative program with EMD-Millipore.
Founded in 2009 as a spin-off of the Université Catholique de Louvain (UCL) and led by Eric Halioua, chief executive officer, Promethera Biosciences develops Promethera® HepaStem, a cell-based therapy for the treatment of in-born errors of metabolism and acquired liver diseases, and Promethera® H2Screen & H3Screen, a non-therapeutic in vitro product, based on a recently discovered and patented liver progenitor cell type, isolated from healthy adult human livers.
The company has 44 employees.