29.03.2012 - Promethera Biosciences has completed a Series B financing round, generating proceeds of €23.6m.
The Belgian cell therapy company secured a capital increase of €17m from its new investors, among them the venture arms of pharmaceutical industry leaders Boehringer Ingelheim and Shire, Japanese investment fund Mitsui Global Investment, US company ATMI and Belgian venture capital fund SambrInvest. In addition, the Walloon Region, which has backed the project since its inception, has granted a loan of €6.6m to support the clinical development of Promethera’s liver disease treatment HepaStem. The deal comes only a little over two years after the first financing round, which raised €5.3m. "Achieving all our objectives a year ahead of plan and the proof of concept obtained in humans have been key factors in our investors' decision”, said Eric Halioua, CEO of Promethera Biosciences. Heterologous Human Adult Liver Progenitor Cells (HHALPC) form the basis for the liver disease treatment HepaStem.
The proof of concept for the therapeutic use of the cells has been demonstrated in three different animal models. Between 2009 and 2011, injections of HHALPC were safely administered to three patients - a world first - at Cliniques Universitaires St Luc by Professor Sokal and his team. These various achievements have enabled Promethera Biosciences to obtain the first authorisations from the British (MHRA) and Belgian (AFMPS) regulatory authorities to begin the phase I/II clinical study of HepaStem. The patent protecting the HHALPC cell and all of its applications has been officially awarded in Europe. “We believe that Promethera HepaStem has, even though early in development, significant potential to treat metabolic liver diseases and we are looking forward to working with the company now and in the future,” commented Dr. Ilka Wicke, director at the Boehringer Ingelheim Venture fund.
04.05.2016 Barcelona-based epigenetics expert Oryzon Genomics has closed a debt funding round of €10.5m, bringing the total money raised since last year to €27m. The funds will serve to advance the company’s two LSD1 inhibitors in cancer and neurodegeneration.
03.05.2016 Ipsen is strengthening its ties to long-time development partner Oncodesign, a Dijon-based cancer treatment biotech. The French pharma is handing over the pre-clinical pharmacology for its oncology research programmes to Oncodesign.
29.04.2016 Swiss bank Group UBS has raised US$471m (€412m) for the UBS Oncology Impact Fund, which was set up to invest in early-stage cancer treatments. The money raised by the fund, nearly half of which comes from investors in Asia, is the largest amount ever raised for such a cancer investment fund.
27.04.2016 More revenue, more jobs, more financing, more R&D expenditure – all signs point towards sustainable growth in the German biotech sector. These are the results of the most recent company survey 2016, published by biotechnologie.de. The report was once again conducted alongside the biotech standards defined by the organisation for economic cooperation and development (OECD).
21.04.2016 An expert panel’s final report on the fatal drug trial earlier this year in France states that the death of one of the participants was most likely caused by the drug’s toxicity and not by any violation of the rules.
21.04.2016 For up to US$685m (€606m), Dutch ArgenX has outlicensed its human antibody programme ARGX-115 to AbbVie. The pre-clinical immuno-oncology candidate targets a protein believed to contribute to immunosuppressive effects of T-cells.
19.04.2016 British drug developer Heptares Therapeutics and mAb maker Kymab Ltd have partnered up in yet another immuno-oncology collaboration. The companies plan to discover antibody meds targeting a superfamily of receptors.
15.04.2016 Not every company is put off by the current stock market climate. Swiss biopharma company GeNeuro has gone public at Euronext Paris, raising €33m in the process. Others, meanwhile, have to find different ways to raise money.
13.04.2016 Despite political disturbances, 2015 was a good year for the biotech scene in Switzerland. Net sales increased by 5.1% to CHF5,133m and 400 additional people found jobs in the sector. As usual, the new numbers were presented at the annual Swiss Biotech Day – which set new records as well.