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Itochu kicks off Promethera’s series D round

Jan 4, 2019 • Jack Hammond

UCL spinout Promethera Biosciences has received $11.3m in series D funding from Itochu and $16.6m in a convertible debt round backed by Sosei.

Conglomerate Itochu has agreed to provide €10m ($11.3m) in capital as anchor investor in a series D round being raised by Promethera Biosciences, a Belgium-based liver disease therapy spinout of Université catholique de Louvain.
The company disclosed the investment alongside $16.6m in convertible bond financing from investors including biopharmaceutical company Sosei Group, Beyond Next Ventures, CMBCC Co-High Medical Investment Fund and various individuals.
Promethera focuses on the development of cell-based therapies for acute and chronic liver diseases. Its…

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