Hamburg - On January 11, 2021, Sterna Biologicals, a German innovative clinical-stage immunology company developing novel immunomodulation therapies for patients suffering from type 2 inflammatory diseases, announced the completion of a Series A financing round totalling EUR 22.0 million (USD 23.2 million).
The proceeds from this round will fund Sterna's next phase 2 clinical trial with SB010 in moderate to severe asthma, the development of an oral formulation for SB012 for the treatment of moderate to severe ulcerative colitis, and related CMC activities.
“We are very pleased with having received such a strong vote of confidence from existing and new investors. Their financial commitment validates our highly promising GATA-3 targeting treatment approach with DNAzyme hgd40 and our comprehensive non-clinical and clinical data package with this unique and novel molecule.”, said Sterna's Chief Executive Officer Christian M. Pangratz.
NEUWERK advised Sterna Biologicals on the transaction. For more information, please see Sterna's press release.
Advisors for Sterna Biologicals: NEUWERK, Hamburg Kirsten Seeger (partner Corporate/M&A)
Daniel Meyer (Associate)
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