DBV Technologies raises 6 Million euro in Series B funding
Printer Print Email Email
Paris: DBV Technologies, a biopharmaceutical company specializing in the development of non-invasive epicutaneous diagnostics and immunotherapies for allergy, has closed a 6 million euro investment with new investor ALK-Abello, a worldwide immunotherapy company, and returning investor Sofinnova Partners. DBV will use the money to progress Phase I clinical trials for its peanut allergy treatment. Sofinnova Partners led the round, investing 4million euro alongside returning investors, with ALK-Abello investing 2million euro. In addition to an equity shareholding in DBV Technologies, ALK-Abello will also have a seat on DBV Technologies' Board of Directors. In return, ALK-Abello will provide its expertise in preclinical and clinical product development to DBV. DBV Technologies Chairman and CEO Jean-Francois Biry said, "We are delighted to have attracted such an experienced corporate investor. We are sure their expertise in clinical development will be invaluable for the development of our pipeline, including our upcoming Phase I peanut allergy trials, Sofinnova Partners."

siliconindia