Medipal and Sony Innovation Fund by IGV were among the investors that boosted the liver disease drug spinout's latest round to $52.6m.
Promethera Biosciences, a Belgium-based liver-transplantation drug spinout of Université catholique de Louvain, increased its series D round to €47.2m ($52.6m) on Monday, adding €7.5m in a tranche co-led by an investment vehicle for electronics manufacturer Sony.
Sony Innovation Fund by IGV co-led the tranche with venture capital firm Pegasus Tech Ventures, investing alongside medical supplies distributor Medipal Holdings, family office Six Snow and two unnamed private investors.
Trading group Itochu supplied the initial $11.3m before Mitsui & Co Global Investment, a subsidiary of conglomerate Mitsui, joined Medipal Holdings, cosmetics brand Ci:z Holdings’ Ci:z Investment unit, Mirae Asset Capital, Korea Investment Partners and undisclosed individuals to add $33.1m.
Promethera is working on drugs to treat liver diseases that will utilise liver stem cells extracted from healthy donor organs engineered to foster immune system modulation and prevent liver fibrosis.
The series D funding will help advance…
