Italy's Creabilis garners €20M in Series A

The Italian biotech Creabilis Therapeutics has raised €20 million from a pair of leading venture capital groups. The money is earmarked for three mid-stage studies of CT327 for psoriasis and dermatitis and CT200, which is being developed for Behcet's Disease. The financing was led by Sofinnova Partners, which was joined in the funding round by NeoMed Management.

"We believe this is the first time an Italian start up has been financed by leading international VCs and we are proud to have attracted two experienced life science investors to support our company," said Alfredo Boni, President and co-founder of Creabilis Therapeutics. "Their support reflects the excellence of our R&D capabilities and our ability to deliver on the vision of becoming a leading specialty pharmaceutical company focused on dermatology."

- read the press release