Promethera Biosciences raises €25.33 million in Series C financial round

27-Nov-2014 - Belgium

Promethera Biosciences announced the completion of its Series C fundraising round. The company has raised €25.33 million ($31.4 million), including €20.33 million in capital. The financing round is supported by existing Promethera Biosciences investors and two new investors: SFPI-FPIM, the Belgian Federal Holding and Investment Company, and SMS Investments, a Luxemburg based subsidiary office of the German SMS group.

The success of the Series-C fundraising is the result of the completion of the HepaStem phase I/II study, following a Series B fundraising in March 2012 when €17 million in equity was raised. Promethera Biosciences has attracted two new investors in this new round, securing a third capital increase of €20.33 million. SFPI-FPIM, the Belgian Federal Holding and Investment Company, and SMS Investments, a Luxemburg based subsidiary office of the German SMS group, have now acquired equity in Promethera Biosciences. They join the company’s historical international investors: Vesalius Biocapital and Boehringer Ingelheim Venture Fund (the venture capital fund of the German pharmaceutical group) the lead investors; SRIW; Shire, a leading UK biopharmaceutical company; Mitsui Global Investment, the venture capital fund of Japanese industrial conglomerate Mitsui & Co Ltd. and Pall-ATMI LifeSciences; Vives-Louvain Technology Transfer Office Fund; as well as several business angels.

In addition, the Walloon region, which has backed the company since its inception, has granted loans and subsidies of €5 million to support the clinical development of HepaStem and the collaborative program with EMD-Millipore.

https://www.bionity.com/en/news/150674/promethera-biosciences-raises-25-33-million-in-series-c-financial-round.html