Promedior, a US-based biotech company developing therapeutics for the treatment of fibrosis, has closed its Series D round at $24.5m, having just added a $3m investment from corporate venture capital firm Shire Strategic Investment Group. Promedior received $21.5m in July of this year led by Fibrotic Ventures. Morgenthaler Ventures, HealthCare Ventures, Polaris Venture Partners, Forbion Capital Partners and Easton Capital were also involved.
Promedior is a clinical-stage biotechnology company pioneering the development of targeted therapeutics to treat fibrotic diseases. Promedior develops drugs to address the most severe and difficult-to-treat fibrotic and inflammatory conditions of the eye, lung and kidney such as glaucoma, age-related macular degeneration, diabetic retinopathy and dry eye disease; pulmonary fibrosis, scleroderma and COPD; and acute and chronic nephropathy. The company has so far raised more than $60m.
Promedior raised $12m in a Series C round in 2010 which was led by Dutch life sciences investor Forbion Capital Partners and $14m in a Series A round in 2006.
Promedior will use the preceeds from this recent financing to broaden and advance its Pipeline of Pentraxin-2 therapeutics, currently in clinical development.