Promethera Biosciences, a global innovator in cell-based medicines and liver diseases, closed a €39.7m (JPY4.94 billion) Series D financing.
The round was co-led by new Japanese investors ITOCHU Corporation, who contributed €10m to this financing in January, and Shinsei Capital Partners. MEDIPAL HOLDINGS CORPORATION (Japan), Mirae Asset Capital (Korea), the family office Six Snow (Luxembourg), Korea Investment Partners (Korea), Ci:z Investment LLP (Japan) are joining the round as well as Belgian private investors. Existing investor, Mitsui & Co. Global Investment, Inc. (MGI), also participated.
The company intends to use the funds to:
– accelerate its ongoing HepaStem clinical program in ACLF,
– launch its first clinical trial in NASH, and
– scale-up manufacturing, preclinical programs and overall operations.
Led by John Tchelingerian, PhD, President and CEO, and Mutsuki Takano, Group CFO and General Manager of the Japan branch, Promethera is a global innovator in liver therapeutics whose mission is to bring patients life-saving treatments to reduce the need for liver transplantation. Its lead clinical program, derived from the patented cell technology platform HepaStem, is designed to benefit from its immune-modulatory and anti-fibrotic properties.
HepaStem consists of liver stem cells that are obtained from ethically donated healthy human livers and expanded under cGMP conditions in production. The product candidate is currently being evaluated in a phase 2a clinical trial in the indication ACLF. In addition to its cell-based approaches, HepaStem and H2Stem, the company is advancing a portfolio of complementary biologics approaches including the anti-TNF-R1 antibody Atrosimab.
Promethera is based We are a team of international experts operating out of facilities in Mont-Saint-Guibert (Belgium), Durham (NC, USA), Tokyo (Japan) and Basel (Switzerland).