Promethera is collecting cash to fuel its liver disease program that revolves around HepaStem. I sat down with the CEO to hear more about the link between the company’s seemingly diverse interests and future direction.
Promethera is the new kid on Belgium’s biotech block in Louvain-la-Neuve, and it’s hatching plans to make a splash with an IPO next spring. The cell therapy startup is looking to raise €40M to develop its liver disease drug pipeline based on HepaStem, which is currently in Phase II trials for urea cycle disorder (UCD).
The HepaStem process works analogously to a stem cell transplant: progenitor cells, which have differentiated further than stem cells, are extracted from a healthy donor liver, processed and injected into a sick person’s liver. So far, Promethera has focused on UCD, but it’s pursuing an IPO to fund its ventures into hemophilia, fibrosis, and nonalcoholic steatohepatitis that are still in the exploratory phase.
Promethera is also looking to expand to Asia, which is rare for a European biotech!