Promethera Biosciences SA, a Mont-Saint-Guibert, Belgium-based global innovator in cell-based medicines and liver diseases, added €7.5m in funding to its recent €39.7m Series D financing.
The round was led by new investors Sony Innovation Fund by IGV and Pegasus Tech Ventures, with MEDIPAL Holdings, the family office Six Snow, a Japanese private investor and a Belgian private investor also contributing to the extension.
The company will use the proceeds from the financing to further advance the company’s clinical programs in Non-alcoholic steatohepatitis (NASH) and Acute-on-Chronic Liver Failure (ACLF), as well as to accelerate growth in the Asian markets. They plan to initiate clinical trials outside Europe in its two lead indications, NASH and ACLF, during the course of 2020.
Led by John Tchelingerian, PhD, President and Chief Executive Officer, Promethera is a global innovator in liver therapeutics. Its lead clinical program, derived from patented cell technology platform HepaStem, is designed to benefit from its immune-modulatory and anti-fibrotic properties. In addition to the cell-based pipeline, the company develops antibody technologies, such as the antiTNF-R1 antibody Atrosimab, to complement and diversify its therapeutic options.