Philogen S.p.A., an Italian clinical-stage biotechnology company, has landed 62 million euros ($70 million) in equity financing.
The company secured the new capital from both current and new private backers.
Philogen will use the net proceeds from the funding to progress its wholly-owned pipeline products through clinical development.
Additionally, the company is also planning to invest the new funds in expanding its good manufacturing practice facilities, enabling large scale production of antibody products.