News and Press
Enthera, the first spin-off of BiovelocITA, completed €4 million seed-expansion financing
- Sofinnova Partners and the JDRF T1D Fund participated in the investment.
- Enthera’s acceleration program was initiated in 2016 by BiovelocITA S.r.l., Italy’s first biotech accelerator.
Enthera S.r.l. is an innovative start-up founded in 2016 by Prof. PaoloFiorina, Dr. Francesca D’Addio and by BiovelocITA. Enthera is dedicated to the research and developmentof innovative approaches to treat type 1 diabetes and related gastrointestinal complications. The seedexpansion, led by Sofinnova Partners, a leading European venture capital firm specialized in Life Sciences,has provided €4 million (about $4.7 million USD) in seed financing to Enthera. The JDRF T1D Fund alongwith BiovelocITA and its shareholders, also participated in the investment.
“Enthera is the first company graduating from BiovelocITA’s acceleration program. We are extremely proudof Enthera’s success, as not only does its science have a revolutionary therapeutic potential, but also theprogress since its foundation validates our approach for boosting the Italian biotech market through the launchof BiovelocITA, a dedicated accelerator.” says Silvano Spinelli, co-founder of BiovelocITA and Enthera’sChairman.
Enthera will use the funds to establish the proof of concept of its innovative therapeutic approach based on regenerative medicine and to continue to develop innovative therapeutic approaches based on the work that co- founder and chief scientific officer Professor Paolo Fiorina originated while he was at San Raffaele Hospital (HSR). Fiorina, who is also an associate professor of endocrinology at the University of Milan and assistant scientist at the Boston Children’s Hospital of the Harvard Medical School, discovered that a specific protein produced by the liver plays a key role in the onset of diabetic enteropathy, an intestinal disorder that affects about 80% of people with diabetes mellitus.
BiovelocITA, which was founded by Silvano Spinelli, Gabriella Camboni and Sofinnova Partners, created Enthera in early 2016. BiovelocITA supports the creation and development in Italy of innovative biotech companies in all therapeutic areas. Enthera was the first spin-off to be accelerated by the program and is now the first to ‘graduate’ and receive financing from by Sofinnova Partners. Funds raised will be used to obtain the pre-clinical proof of concept for its lead product ENT-001, that targets diabetes and intestinal disorders. Enthera’s technology is also being developed for additional applications. “Thanks to the industrial expertise of BiovelocITA, Enthera was able for the past two years to significantly advance its research. Today we are entering a new phase with new challenges to meet. We are thrilled to welcome Sofinnova Partners and the JDRF T1D Fund, who’s recognized expertise will help us bring our lead product ENT-001 to proof of concept.” Paolo Fiorina says.
For more information, please contact:
BiovelocITA Press Office: : Cantiere di Comunicazione – email@example.com
BiovelocITA – BiovelocITA S.r.l. is the first Italian accelerator dedicated to biotech. It was founded by Silvano Spinelli,
Gabriella Camboni and Sofinnova Partners. BiovelocITA has raised 15 Mi Euro from founders and visionary Italian Investors and has a portfolio of innovative programs in different therapeutic areas. Thanks to BiovelocITA, along with entrepreneurs, scientists and investors, supports the advancement of early stage innovative programs leading to the creation of innovative biotech companies. Enthera S.r.l., the first BiovelocITA’s spin-off, established in 2016, has now completed its first seed extension round. (www.biovelocita.com)
Enthera S.r.L. – Enthera S.r.l. is a new Italian biotech start-up whit the mission to find new therapeutic approaches to treat diabetes and related gastrointestinal complication (enteropathy), as well as other intestinal disorders sharing the same biological pathway. Its name comes from the crasis of the terms entero (referring to the intestine) and therapy. Enthera was founded by BiovelocITA in October 2016 in collaboration with the scientists Prof. Paolo Fiorina and Dr.Francesca D’Addio.(www.enthera.it)
JDRF T1D Fund – The JDRF T1D Fund (www.t1dfund.org) is a venture philanthropy fund accelerating life-changing solutions to treat, prevent, and cure type 1 diabetes (T1D) through catalytic commercial investments. Through its investments in partnership with private capital, including venture capital, corporations and foundations, the T1D Fund seeks to attract the private investment necessary to advance drugs, devices, diagnostics, and vaccines into the hands of those living with T1D. The T1D Fund invests in areas strategically aligned with JDRF, the leading global organization funding T1D research, with an exclusive focus on supporting the best commercial opportunities. The T1D Fund will reinvest any realized gains into new investments to further its mission.
Sofinnova Partners – Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, France, the firm brings together a team of professionals from all over Europe, the US and China. The firm focuses on paradigm shifting technologies alongside visionary entrepreneurs. Sofinnova Partners seeks to invest as a lead or cornerstone investor in seed, start-ups, corporate spin-offs and late stage companies. It has backed nearly 500 companies over more than 45 years, creating market leaders around the globe. Today, Sofinnova Partners has over €1.9 billion under management. For more information: www.sofinnova.fr