AbbVie backs an Italian startup focused on autoimmune diseases; BioTheryX advances AML drug with $35M D round

AbbVie backs an Italian startup focused on autoimmune diseases; BioTheryX advances AML drug with $35M D round
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Graziano Seghezzi Sofinnova

Italy’s Enthera Pharmaceuticals has grabbed a €28 million launch round to back its work on, laying bragging rights to the largest A round ever for an Italian biotech.

The company is using “nontraditional” tech to target autoimmune diseases, looking to re-establish stem cell capabilities in type 1 diabetes and inflammatory bowel disease.

Graziano Seghezzi, managing partner of Sofinnova Partners, co-seeded the company, with AbbVie stepping in to help out. This is AbbVie’s first investment in the Italian biotech scene.

CEO Giovanni Amabile said that “the funds raised will enab