The spin-off from Université catholique de Louvain is now ready to complete pre-clinical studies for an innovative stem cell therapy to treat unmet medical needs and to circumvent liver transplantation
Louvain-La-Neuve, Belgium, October 29th 2009 – Promethera®Biosciences an innovative stem cell therapy company today announces the successful closing of a EUR 5.3 million capital increase in a Series-A equity financing round. The investor syndicate, led by Vesalius Biocapital (Belgium), includes SRIW, Life Sciences Research Partners, NivelInvest, Capital & Croissance, LRM Oxygen for Growth, Vives, several business angels as well as existing shareholders, (Sopartec and the founder, Prof Etienne Sokal, UCL). The round will be completed by significant public funding. Alain Parthoens, Partner at Vesalius Biocapital announces: “Promethera® Biosciences’ stem cell technology has impressive potential with a strong proprietary position in addition to benefiting from a high quality management team. We believe that Promethera® Biosciences is well positioned to play a leading role in tomorrow’s liver regenerative medicine market”.