Promethera Biosciences bags €23.6m.
Enlarge image

BusinessBelgium

Promethera Biosciences bags €23.6m.

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.

http://www.european-biotechnology-news.com/news/news/2012-01/promethera-biosciences-bags-eur236m.html

FinancingPoland

24.03.2015 Poland has announced the closing of a new venture capital fund at US$42m (€32m). The fund, which is the first of its kind in Poland, is dedicated to the Life Sciences with a strong connection to Central and Eastern Europe.

BioeconomyFranceSwedenGermanyNetherlandsFinland

23.03.2015 A BASF-led consortium aims to decrease bio-based production costs using industrial biotechnology. The Horizon2020 funded consortium is the sixth project of the SPIRE Public Private Partnership and has a budget of €14m.

Stock MarketsFranceSwedenUKNorwayIreland

20.03.2015 There are no signs of inertia creeping into the European biotech industry this spring. A total of eight IPOs are set to go public by the end of the year’s first quarter.

FinancingUKEU

17.03.2015 Pharma giants GlaxoSmithKline (GSK) and Johnson & Johnson (J&J) will be key collaborators in a new global fund for dementia research to address the rising threat posed by dementia and Alzheimer’s disease.

FinancingFranceDenmarkSwedenGermany

19.03.2015 French venture capital firm Seventure Partners has raised a further €25m for its microbiome-focused Health for Life Capital Fund. It now stands at €100m.

EventsFranceEUSwitzerlandUKGermany

12.03.2015 With around 1,400 companies and 2,400 participants, the springtime counterpart of BIO-Europe enjoyed a successful premiere in France this year. The overall mood of the European biotech industry was positive, and the French hosts in particular reported new initiatives.

M&ABelgium

11.03.2015 Belgian cell-based therapeutics developer and CMO MaSTherCell SA has been acquired by US biotech Orgenesis Inc. for €23m.

FinancingGermany

10.03.2015 The Gates Foundation has dipped into its purse to bring infectious diseases vaccines to the poorest countries. German vaccine specialist CureVac is set to receive US$52m for their mRNA platform technology.

Stock MarketsIrelandUK

05.03.2015 The IPO wave in the biotech sector shows no signs of slowing down. An Irish life sciences fund set up by former Elan executives plans to raise €325m with its IPO, whilst Summit Therapeutics has announced its IPO pricing of US$34m on Nasdaq.

LicencingDenmark

05.03.2015 Bavarian Nordic is outlicensing its Phase 3 prostate cancer immunotherapy Prostvac to pharma heavyweight Bristol Myers Squibb for a tidy €881m.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • CYTOS1.54 CHF14.07%
  • SYNGENTA329.00 CHF0.27%
  • 4SC0.84 EUR0.00%

FLOP

  • THERAMETRICS0.07 CHF-12.50%
  • BASILEA110.00 CHF-2.65%
  • ACTELION114.70 CHF-1.88%

TOP

  • CYTOS1.54 CHF352.9%
  • MEDIGENE13.50 EUR217.6%
  • FORMYCON26.00 EUR55.7%

FLOP

  • WILEX2.92 EUR-14.9%
  • BASILEA110.00 CHF-10.0%
  • MORPHOSYS70.55 EUR-5.6%

TOP

  • SANTHERA95.40 CHF2377.9%
  • WILEX2.92 EUR394.9%
  • FORMYCON26.00 EUR279.0%

FLOP

  • CYTOS1.54 CHF-48.3%
  • 4SC0.84 EUR-39.1%
  • THERAMETRICS0.07 CHF-36.4%

No liability assumed, Date: 25.03.2015