Milan-Based Nephris Has Raised €3 Million in Seed Financing To Explore New Therapies for Diabetic Nephropathy, a Complication of Type 1 and Type 2 Diabetes
MILAN, ITALY / ACCESSWIRE / April 20, 2022 / Sofinnova Partners, a leading European life sciences venture capital firm based in Paris, London and Milan, announced today a €3 million seed investment in an innovative pre-clinical stage biotech company called Nephris. The Milan-based company is developing novel therapies for diabetic kidney disease, which is a common and serious complication for people with Type 1 or Type 2 diabetes. The investment was made through the Sofinnova Telethon Fund, the venture capital firm's early-stage strategy dedicated to investments in rare and genetic diseases, and the largest fund entirely dedicated to biotechnology in Italy.
Nephris was formed on the basis of foundational research by the world-renowned expert Prof. Paolo Fiorina and Dr. Francesca D'Addio. Both have extensive knowledge in the field of diabetic nephropathy and were also the founders of Enthera Pharmaceuticals, another biotech company backed by Sofinnova Partners that is developing first-in-class biologics for autoimmune conditions. The Nephris leadership team is comprised of Gabriella Camboni, M.D., Chief Executive Officer, and Silvano Spinelli, Chairman of the Board. Both are repeat entrepreneurs in Sofinnova's portfolio companies.
Lucia Faccio, Partner at Sofinnova Partners and a member of the Nephris Board of Directors, said: "Nephris is at the forefront of innovation in diabetic kidney disease. This latest investment from the Sofinnova Telethon Fund is the perfect example of a company built on the excellence of Italian science, tackling an area where there is significant unmet medical need. We are delighted to be working with this world-class team."
Prof. Fiorina, Nephris's Scientific Founder, said: "About 40% of people living with diabetes have diabetic nephropathy, which tends to get progressively worse, with patients whose kidneys fail, requiring dialysis or kidney transplant. With the cutting-edge research we have developed in this area, we have the potential to seek new treatments that could prevent, treat, and perhaps even reverse diabetic kidney disease."
Nephris will be presenting at the upcoming BioEquity conference, Europe's premier meeting of investors and biopharma executives, which will take place in Milan from May 16-18.
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.
Founded in 1972, Sofinnova Partners is a deeply-established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2.5 billion under management. For more information, please visit: www.sofinnovapartners.com
About Nephris
Nephris is a biotech company developing first-in-class therapies for chronic kidney diseases. Based in Milan, Italy, the company was founded by Paolo Fiorina, full professor of Endocrinology at the University of Milan and world-renowned authority in the domain, and Dr. Francesca D'Addio. The company was established through a €3 million seed financing from Sofinnova Telethon Fund, Sofinnova Partners' early-stage strategy.
For more information, please visit: www.nephris.com
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SOURCE: Sofinnova Partners