Cytheris closes EUR 24.3M Series B financing
Funds to progress Phase II clinical studies of IL-7 to treat HIV
ABN AMRO Capital Life Sciences announced a EUR4 million investment in Cytheris, a privately held biopharmaceutical company focused on immuno-modulation. The investment is part of a EUR24.3 million (USD 30.7 million approx.) Series B financing. The new round shall enable Cytheris to complete Phase II trials of its IL-7 programme for HIV. The funds are also earmarked for the preclinical development of its new drug candidate selected from a NKT/Dendritic cell activators platform.
Leading the round was CDC Entreprises Innovation (France), with the remaining investors being AXA Private Equity (France), BIOAM/Bioamgestion (France), Crédit Agricole Private Equity (France), T2C2/Bio 2000 (Canada) and Caisse de Dépôt et Placement du Québec (CDPQ) (Canada) also participated.
Cytheris is focusing the development of IL-7 on selected projects with high probability of success and blockbuster potential. According to Cytheris, more than 50 patients treated in various proof of concept studies in US and France confirm IL-7 excellent clinical tolerance and impressive activity. Most active or passive immunotherapies for life threatening diseases will need the support of IL-7 to make a large number of T lymphocytes available for therapeutic responses, according to the company.
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