Nonalcoholic steatohepatitis (NASH) is the most severe form of non-alcoholic fatty liver disease. It is diagnosed by conditions such as a fatty liver, liver cell damage, and inflammation. If it is not treated on time, NASH can lead to further complications such as liver fibrosis. As it is essential to cure NASH in real-time, many companies focus on the same and Promethera Biosciences based in Wallonia, Belgium is one of them.
Belgian biotech startup Promethera Biosciences is one of the leading innovators in the world specialised in liver therapeutics. The company operates with the mission to bring life-saving treatments that will reduce the need for liver transplantation. It is one of the pioneers in the development of cell-based therapies that will provide both anti-fibrotic and immunomodulatory effects in the liver.
Secures €7.5M Series D funding
Promethera Biosciences just announced that it secured €7.5 million additional Series D funding, which adds to the recently raised €39.7 million funding. This investment was led by Sony Innovation Fund of IGV and Pegasus Tech Ventures along with MEDIPAL Holdings, the family office Six Snow, a Japanese private investor and a Belgian private investor.
Eyes to accelerate growth
With the fresh round of investment, Promethera Biosciences aims to advance its clinical programs in NASH (Non-alcoholic steatohepatitis) and ACLF (Acute-on-Chronic Liver Failure). Besides these advancements, the Belgian startup also plans to accelerate growth in the Asian markets. It is in plans to initiate clinical trials outside of Europe in NASH and ACLF in 2020.
Patented cell technology!
Promethera Biosciences’ lead clinical program is derived from its patented allogenic live-cell platform dubbed HepaStem. The biotech startup has developed its cell therapy technologies using allogeneic stem and progenitor liver cells that are isolated, expanded, and purified from healthy human livers unsuitable for transplantation.
Besides the cell-based therapies, this startup also develops antibody technologies such as the anti TNF-R1 antibody Atrosimab in order to complement and diversify the therapeutic options.
Main image picture credits: Promethera Biosciences
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