DBV Tech grabs $25M C round for allergy drug trials

A pair of new investors--InnoBioFund and Lundbeckfond Ventures--has taken the lead on a $25.5 million Series C round for France's DBV Technologies, And the biotech plans to use that money to fuel its work on new therapies for severe food allergies.

According to Genetic Engineering & Biotechnology News the French company gained FDA clearance on clinical trial work for its peanut allergy therapy with Phase Ib studies now underway. The NIH is supporting Phase II work, which is scheduled to get started at the middle of this year. Shire and Alto Invest joined the round with existing investors Sofinnova Partners and Alk Abello.

- here's the story from Genetic Engineering & Biotechnology News