BRIEF—Enthera Pharma completes series A financing

Milan’s Enthera Pharmaceuticals has raised 28 million euros ($33 million) in a series A financing round. The firm is working on stem cell-based therapies for autoimmune conditions.

The round was co-led by seed investor Sofinnova Partners and new investor AbbVie, with further investment from the JDRF T1D Fund and others.

The money will be used to obtain clinical proof-of-concept through a first-in-human study of Ent001, Enthera’s lead candidate in type 1 diabetes and inflammatory bowel disease.