Press releases

Promethera® Biosciences raises EUR 23.6 million (~ USD 31.4 million) in Series-B financing round

Mont-Saint-Guibert, 28 March 2012 – Promethera® Biosciences, the Belgian cell therapy company operating in the field of liver diseases, completed today an exceptional fundraising round that generated EUR 23.6 million, including EUR 17 million in capital.

Among the new investors are 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. This Series-B fundraising has been successful thanks to the major achievements made by Promethera® Biosciences since its Series-A fundraising in 2009. Most outstanding is the GMP accreditation following the successful transfer and scaling up of the production process developed at Université Catholique de Louvain (UCL) into a larger-scale pharmaceutical operation. Meanwhile, the company has been granted authorizations from the respective agencies to start its phase I/II clinical study in Belgium and the UK for its innovative cell therapeutic product HepaStem™ which may hold a cure for liver diseases and offer breakthrough technology for repairing severe liver defects.