Promethera Biosciences, a Belgian cell therapy company specialising in liver diseases, has completed a €23.3m Series B financing round from a consortium of new investors including the venture capital arms of Boehringer Ingelheim and Shire.
The round, which includes €17m of capital and a €6.6m loan from existing investor the Walloon Region, also saw participation from new investors including Mitsui Global Investment, US firm ATMI and Belgian venture capital fund SambrInvest.
New investors join Belgian investors attracted in the €5.3m Series A round held in 2009, including lead investor Vesalius Biocapital, SRIW, Vives-Louvain Technology Fund, Life Science Research Partners, NivelInvest and Belgian Université catholique de Louvain (UCL) spin out Sopartec, as well as several business angels.
Promethera has been granted authorisation to start its phase I/II clinical study in Belgium and the UK for cell therapeutic product HepaStem which may hold a cure for liver diseases and offer a breakthrough technology for repairing severe liver defects.
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