EU cell therapy companies Cell Medica, Promethera raise cash
This article was originally published in Scrip
Two European companies focused on cell therapies have raised money from private investors: the UK's Cell Medica has raised a £50m series B round, and Belgium's Promethera Biosciences has raised €25.33m in a combination of series C investment and loans and subsidies.
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Liver disease-focused Belgian cell therapy biotech Promethera Biosciences closes a €39.7m ($44.4m) Series D round co-led by new Japanese investors Itochu Corporation and Shinsei Capital Partners. Asian investors now own about 44% of company.
Emerging Company Profile: Belgium’s Promethera presented preclinical data for HepaStem, its liver-derived stem cell candidate for NASH, fibrosis and acute-on-chronic liver disease, at the AASLD meeting. With what appears to be a solid safety profile, the company hopes to move into clinical studies in the near term.
China's WuXi PharmaTech, an R&D technology company serving the pharmaceutical, biotechnology and medical device industries, has announced construction of a new manufacturing facility in Philadelphia, US designed for cell therapy products, including chimeric antigen receptor T-cell (CAR-T) therapies. More manufacturing power is crucial to the success of this burgeoning, high-potential field.