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Italian Enthera Pharma raise €35m in Series A extension

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by tg

Enthera Pharmaceuticals extends its €28m Series A financing from last July to a total of €35m as Roche Venture Fund joins the company’s investor syndicate.

Roche Venture Fund joined seed investor Sofinnova Partners and AbbVie Ventures and co-investors including the JDRF T1D Fund, an investor group coordinated by Banor SIM, a group coordinated by Banca Profilo through Arepo Fiduciaria and Indaco Venture Partners SGR. The spin-off from the Milan-based biotech accelerator BiovelocITAy said it will use the proceeds to finance clinical development upon proof-of-concept (Phase IIb) of its lead candidate Ent001, an IGFBP3/TMEM219 inhibitor, that the company intends to position as treatment for type 1 diabetes, gastrointestinal diseases. Enthera Pharma will also advance its other pipeline candidates.

Enthera Pharmaceuticals’ biologics are designed to treat autoimmune disorders by re-establishing stem cell capabilities. Enthera was formed in 2016 on the basis of research by scientific founders Prof. Paolo Fiorina and Dr. Francesca D’Addio.

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