Business Wire

Enthera Pharmaceuticals Raises €28 Million in Series A Financing to Advance Restorative Therapy for Type 1 Diabetes and Inflammatory Bowel Disease

Share

Enthera Pharmaceuticals (“Enthera”), a biotech company developing disease-modifying biologics to transform the therapeutic paradigm of specific autoimmune conditions by re-establishing stem cell capabilities in a non-traditional way, today announces the completion of a €28 million Series A financing round.

The Series A was co-led by seed investor Sofinnova Partners, a leading European life sciences venture capital firm based in Paris, London and Milan, and incoming investor AbbVie, with further investment from the JDRF T1D Fund (the venture capital fund of JDRF) and several Italian investors including a group coordinated by Banor SIM, a group coordinated by Banca Profilo through Arepo Fiduciaria and Indaco Venture Partners SGR. The €28 million raised is the largest VC-backed Series A funding round for an Italian biotechnology company to date.

The Series A marks AbbVie’s first venture investment into an Italian company. Enthera was also the first European investment of the JDRF T1D fund, who previously invested in the Company during its €4 million seed extension funding round in 2018.

The proceeds from the Series A financing will be used to obtain clinical proof-of-concept through a first-in-human study of Ent001, Enthera’s lead candidate. Ent001 is the only drug in development with the potential to restore the pancreatic beta cell compartment in type 1 diabetes as well as the original intestine structure in inflammatory bowel disease, in order to re-establish organ function. The funds will also be used to further develop Enthera’s pipeline.

Commenting on the successful Series A financing, Giovanni Amabile, CEO of Enthera, said:“Having renowned investors Sofinnova Partners, AbbVie and JDRF T1D Fund choosing to support us on our journey is great validation of our company strategy and scientific method, and gives credit to the innovative science that is currently underway in Italy.

“We have a revolutionary approach that offers a new perspective for intractable diseases such as type 1 diabetes and inflammatory bowel disease, and the funds raised will enable us to accelerate our lead program Ent001 to clinical proof-of-concept. Through this and the development of our wider pipeline, we have the opportunity to bring real hope to patients in need and to provide effective and safe treatments.”

Graziano Seghezzi, Managing Partner of Sofinnova Partners, who co-seeded the company, stated:
“Enthera’s Series A financing is a fantastic milestone enabled by the leadership of Giovanni who, since his arrival in the company, has expanded its activities into novel therapeutic areas. This is also an opportunity for us to applaud BiovelocITA’s role in transforming the breakthrough science originating from Paolo Fiorina and his team into a full-fledged enterprise. Enthera is a salient example of what can be achieved when the critical components of a biotech ecosystem are brought together to accelerate innovation in Italy: World-class science, experienced management, and dedicated financial capital.”

Margarita Chavez, Managing Director of AbbVie Ventures and new addition to the Enthera Board of Directors, added: “AbbVie Ventures’ investment in Enthera’s Series A demonstrates our confidence in the team and their unique approach to treating underserved autoimmune disorders. I look forward to working with Giovanni and rest of the team as we drive the Company and its innovation forward.”

Enthera was formed in 2016 on the basis of research by scientific founders Prof. Paolo Fiorina and Dr. Francesca D’Addio. The Company is the first spin-off of the Italian biotech accelerator BiovelocITA, founded by Sofinnova Partners, Silvano Spinelli and Gabriella Camboni, which provided the initial seed fund. A seed extension was financed in 2018 by Sofinnova Partners, JDRF T1D fund and the other existing investors.

ENDS

Notes to Editors

About Enthera

Enthera Srl is a biotech company developing first-in-class biologics to transform the treatment paradigm of specific autoimmune conditions by re-establishing stem cell capabilities in a non-traditional way. The Company’s primary target indications are type 1 diabetes (T1D) and inflammatory bowel disease (IBD).

Enthera's pioneering approach capitalizes on the key discovery of the IGFBP3/TMEM219 pathway, which is involved in beta cell and stem cell apoptosis in pancreas and gut, respectively.

The Company is building a pipeline of inhibitory monoclonal antibodies (mAbs) and fusion proteins targeting the pathway via multiple angles. Its lead program Ent001 is the only drug in development with the potential to restore the endogenous pancreatic stem cell compartment in T1D as well as the original intestine structure in IBD, in order to re-establish organ function.

Enthera is a private company headquartered in Milan, Italy and founded in 2016 by Prof Paolo Fiorina and Dr Francesca D’Addio at BiovelocITA, an Italian biotech accelerator. The Company is backed by Sofinnova Partners and JDRF T1D fund. Enthera’s discovery engine and assets are protected by a broad portfolio of patents.

For more information, visit https://www.entherapharmaceuticals.com/

Connect with us on LinkedIn.

About Sofinnova Partners

Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, France, with offices in London and Milan, the firm brings together a team of 40 professionals from all over Europe, the U.S. and Asia. The firm focuses on paradigm-shifting technologies alongside visionary entrepreneurs. Sofinnova Partners invests across the Life Sciences value chain as a lead or cornerstone investor, from very early-stage opportunities to late-stage/public companies. It has backed nearly 500 companies over more than 48 years, creating market leaders around the globe. Today, Sofinnova Partners has over €2 billion under management.

For more information, please visit: www.sofinnovapartners.com

About AbbVie Ventures

AbbVie Ventures is the corporate venture capital group of AbbVie. We are a strategic investor, investing exclusively in novel, potentially transformational science aligned with AbbVie's core R&D interests. We measure success primarily by the extent to which our investments foster innovation with potential to transform the lives of patients that AbbVie serves. AbbVie Ventures enables its portfolio companies with both funding as well as access to AbbVie's internal network of experts across all phases of drug development, from drug discovery through commercialization.

For more information, please visit www.abbvie.com/ventures

For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn.

About the JDRF T1D Fund

The JDRF T1D Fund is a venture philanthropy fund accelerating life-changing solutions to cure, prevent and treat type 1 diabetes (T1D) through catalytic equity investments. Through its investments in partnership with private capital, including venture capital, corporations and foundations, the T1D Fund seeks to attract the private investment necessary to advance therapeutics, devices, diagnostics and vaccines into the hands of those living with T1D. The T1D Fund invests in areas strategically aligned with JDRF, the leading global organization funding T1D research, with an exclusive focus on supporting the best commercial opportunities. The T1D Fund reinvests any realized gains into new investments to further its mission.

www.t1dfund.org

BiovelocITA

BiovelocITA S.r.l. is the first Italian accelerator dedicated to biotech. It was founded by Silvano Spinelli, Gabriella Camboni and Sofinnova Partners. Thanks to BiovelocITA, entrepreneurs, scientists and investors can work together to accelerate biotech projects with an international scope and reach the “proof of concept” that precedes the clinical phase. Set up to offer innovative solutions to the medical community and to patients, BiovelocITA supports the creation and development of innovative biotech companies in all therapeutic areas.

For more information, see: http://www.biovelocita.com

Contact information

For further information, please contact:

Enthera Pharmaceuticals
Giovanni Amabile, CEO
T: +39 (0)2 3456778
E: info@entherapharmaceuticals.com

Instinctif Partners (media enquiries)
Dr Christelle Kerouedan / Siobhan Sanford / Kiki Zaccagnini
Tel: +44 20 7457 2020
E: enthera@instinctif.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

International AI Art Competition Enters Final Round30.9.2020 18:16:00 CESTPress release

Ten finalists have been announced for AI Artathon, the first ever international AI Art competition held in Saudi Arabia. The finalists were revealed during a livestream event to showcase artworks created by the competitors using artificial intelligence tools and techniques. The three winning teams will be announced at the Global AI Summit on 22nd October, where they will share a prize of US$133,000. The AI Artathon is an initiative of the Global AI Summit, to highlight the creative potential of humans and machines working together to create innovative artworks. Twenty teams made up of artists, graphic designers, AI experts and programmers, competed in this stage of the competition, after qualifying during a hackathon held in Riyadh in January. Over 2,000 people from over 50 countries applied to participate in the hackathon, with 300 selected for the three-day event, where teams were formed to develop initial AI art concepts. Twenty teams were selected to take part in a bootcamp, where

VALBIOTIS Publishes Its 2020 Half-Year Results and Provides an Update on Its Global Strategic Partnership with Nestlé Health Science, its strong Financial Visibility and the Promising Advances in Its Pipeline30.9.2020 17:40:00 CESTPress release

Regulatory News: VALBIOTIS (Paris:ALVAL) (FR0013254851 – ALVAL / eligible for the PEA/SME), a Research & Development company committed to scientific innovation for preventing and combating metabolic diseases, announces its results for the first half of 2020 and provides an update on developments since the beginning of the year. Sébastien PELTIER, CEO of VALBIOTIS, commented: "Events in the first half of 2020 have transformed our outlook and helped further boost our international recognition. With the signature of the development and marketing partnership for TOTUM-63 and the launch of the final clinical phase for this Nutrition Healthcare product, entirely financed by Nestlé Health Science, we have demonstrated the soundness of our development model. We are now moving confidently towards marketing and claim submission for TOTUM-63 and, thanks to a solid financial position, we are also working to apply this same model to the rest of our Nutrition Healthcare portfolio. At the head of the

Bittrex Global to Operate Cryptocurrency Exchange From Bermuda30.9.2020 17:16:00 CESTPress release

Bittrex Global (Bermuda) Ltd. received a full Class F Digital Assets Business Act license to operate its acclaimed cryptocurrency exchange under the supervision of the Bermuda Monetary Authority (BMA). The Bermuda-based entity will provide Bittrex Global with an additional important gateway for global accounts. From its Bermuda hub, Bittrex Global (Bermuda) will offer additional digital asset services over time subject to further approval by the BMA, such as futures. “The entire crypto industry is about looking forward,” said Bittrex Global’s CEO Tom Albright. “Working with the Bermuda Government and the BMA to be part of another regulatory community that keeps innovating is extremely exciting and is an important step in increasing crypto’s penetration at all levels of the financial industry.” Bermuda Premier David Burt added “attracting Bittrex Global to Bermuda is a significant achievement. As one of the leading global exchanges, Bittrex Global’s choice of Bermuda for expanding their

GA Telesis Plans to Deliver Renewed Confidence in Air Travel Through its New Global Distribution Agreement with Honeywell for a State-of-the-Art UV Cabin Cleaning System30.9.2020 16:50:00 CESTPress release

In an effort to help restore confidence to the flying public, GA Telesis, LLC, has teamed with Honeywell and entered into a distribution agreement to act as a global distributor for their UV Aircraft Cabin Cleaning system. This partnership is another step in the development of GA Telesis’Tarmac Solutions Group's ability to offer a fully comprehensive Specialized Tooling and Ground Support Equipment solution for airlines around the world. This cabin system utilizes Ultraviolet (UV) light to quickly traverse an aircraft cabin, galleys & lavatories in less than ten minutes. In addition to measures already being taken by airlines in flight like the use of cabin air exchange and HEPA filters, this new system, when properly applied, reduces certain viruses and bacteria on airplane cabin surfaces and can assist in creating a cleaner environment for passengers and crew after the airplane lands and before each flight. The UV cabin cleaning system is intended to help instill confidence to busine

Velodyne Lidar Announces Inaugural Trading on Nasdaq Global Select Market30.9.2020 15:31:00 CESTPress release

Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced shares of its common stock and warrants have begun trading on The Nasdaq Global Select Market under the ticker symbols “VLDR” (common stock) and “VLDRW” (warrants). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200930005166/en/ Velodyne Lidar is the first public pure-play lidar company and is known worldwide for its broad portfolio of breakthrough lidar technologies, including revolutionary sensor and software solutions. (Photo: Velodyne Lidar, Inc.) Velodyne is the first public pure-play lidar company and is known worldwide for its broad portfolio of breakthrough lidar technologies, including revolutionary sensor and software solutions. These innovative technologies deliver performance, quality and flexibility to meet the needs of a wide range of industries such as autonomous vehicles and growing new markets. Currently, Velodyne serves the automotive industry with

97% of PeopleSoft Licensees Believe Current Releases Meet Their Needs30.9.2020 15:00:00 CESTPress release

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of business software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today revealed significant findings from its recent survey of Oracle PeopleSoft licensees, which was conducted to better understand licensees’ software product and release roadmap strategies, current challenges and application support and operating plans. The survey highlights that an overwhelming 97% of respondents believe their current PeopleSoft releases meet all or most of their business needs. Further, many licensees are taking steps to maximize the value and extend the lifespan of their robust and mature current releases, including moving their PeopleSoft software to a cloud hosting platform, utilizing Application Management Services and switching their annual support to third-party support providers like Rimini Street. This press release features multimedia. View the full release

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom