Promethera gets Asian partner and takes fundraising beyond $100 million

2 January 2019

Japanese conglomerate Itochu Corporation (TYO: 8001) has become the first lead investor in the Series D round of hepatology specialist Promethera Biosciences.

Itochu is investing 10 million euros ($11.4 million) and will support Promethera in R&D, business development and through its medical network in Asia.

In addition to the first tranche of the Series D round, which Promethera expects to close early this year, the Belgium-based company has recently raised 14.6 million euros through the issuance of convertible bonds to existing and new investors.

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