Enthera Pharmaceuticals announced the completion of a €28 million Series A financing round co-led by seed investor Sofinnova Partners and incoming investor AbbVie. Additional contributors included the JDRF T1D Fund (the venture capital fund of JDRF) and several Italian investors including a group coordinated by Banor SIM, a group coordinated by Banca Profilo through Arepo Fiduciaria and Indaco Venture Partners SGR. The €28 million raised is the largest VC-backed Series A funding round for an Italian biotechnology company to date.
Enthera is focused on developing first-in-class biologics to transform the treatment paradigm of specific autoimmune conditions by re-establishing stem cell capabilities in a non-traditional way. Enthera's pioneering approach capitalizes on the key discovery of the IGFBP3/TMEM219 pathway, which is involved in beta cell and stem cell apoptosis in pancreas and gut, respectively. The Company is building a pipeline of inhibitory monoclonal antibodies (mAbs) and fusion proteins targeting the pathway via multiple angles.
The proceeds from the Series A financing will be used to obtain clinical proof-of-concept through a first-in-human study of Ent001, Enth...
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