Fibrotec Ventures has led a $21.5m financing round in therapeutic drug developer Promedior, its first investment in the company.
All of Promedior’s existing investors, including Morgenthaler Ventures, Healthcare Ventures and Polaris Venture Partners also took part in the Series D round, which brought total capital raised to $62m.
Promedior said it would use the investment to broaden and advance its pipeline of therapeutics to treat fibroproliferative diseases.
Fibrotec Ventures president Hanns Pielenz said, “We believe that Promedior’s platform has the potential to revolutionize the treatment of a number of serious fibrovascular diseases, including diseases for which there are no FDA-approved treatments.
“This financing will enable Promedior to build on its strong scientific and clinical platform.”
Pielenz will join the Promedior board of directors as part of the deal.
Dutch life sciences investor Forbion Capital Partners led a $12m Series C funding round in Promedior in 2010.
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