Promethera Biosciences, a Belgian biotechnology company, has secured 39.7 million euros ($44.4 million) in a Series D funding round.
ITOCHU Corp. and Shinsei Capital Partners co-led the round with participation from Medipal Holdings Corp. and Ci:z Investment LLP, Mirae Asset Capital among others.
The new funds will be used to accelerate Promethera's ongoing HepaStem clinical program in acute-on-chronic liver failure and the launch of the company’s first clinical trial in Nonalcoholic steatohepatitis.
Furthermore, the company will also use the proceeds from the round for its manufacturing scale-up, preclinical programs and overall operations of the company and the group.