SuppreMol raises €15.7 million in series B financing

SuppreMol of Germany has closed a €15.7 million series B financing round. The lead investors were MIG and BioMedInvest. Santo Holding and the existing investors Zetacube, KfW Mittelstandsbank, Bayern Kapital and Max-Planck-Gesellschaft also participated. SuppreMol is developing novel therapeutics for the treatment of autoimmune diseases. The proceeds of the round will be used to advance its lead product SM101, a recombinant human soluble Fc-gamma receptor IIb for the treatment of idiopathic thrombocytopenic purpura (ITP), to clinical proof-of-concept, said the company. SM101, which has been granted orphan drug status in the EU, is scheduled to enter Phase I clinical studies in the first quarter of next year.