Enthera Pharmaceuticals, a Milan, Italy-based biotech company, closed its Series A financing, with a total financing of €35m.
The Roche Venture Fund joined an international investment syndicate following the fundraising’s first close of €28m which was announced in July 2020, co-led by seed investor Sofinnova Partners and incoming investor AbbVie Ventures. Rounding out the syndicate was the JDRF T1D Fund (the venture philanthropy fund of the JDRF) and several Italian investors including a group coordinated by Banor SIM, a group coordinated by Banca Profilo through Arepo Fiduciaria and Indaco Venture Partners SGR. As part of the Series A round, Carole Nuechterlein, Head Roche Venture Fund, joins the Enthera Board of Directors.
The company intends to use the funds to obtain clinical proof-of-concept through a first-in-human study of Ent001, its lead candidate, and to further develop its pipeline.
Formed in 2016 as a spin-off of the Italian biotech accelerator BiovelocITA, on the basis of research by scientific founders Prof. Paolo Fiorina and Dr. Francesca D’Addio and led by Giovanni Amabile, CEO, and Silvano Spinelli, Chairman, Enthera is advancing Ent001, a drug in development with the potential to restore the pancreatic beta cell compartment in type 1 diabetes as well as the original intestine structure in inflammatory bowel disease, in order to re-establish organ function.