Investment round completed
DBV Technologies, a biopharmaceutical company specialising in the development of noninvasive epicutaneous diagnostics and immunotherapies for allergy, has closed a €6 million investment with new investor immunotherapy company ALK-Abello, and returning investor Sofinnova Partners. DBV will use the investment to progress Phase I clinical trials for its peanut allergy treatment.
DBV Technologies was founded in 2002 of the experience of Pierre-Henri Benhamou, a paediatrician specialising in gastroenterology, allergy and nutrition, and Bertrand Dupont, a qualified engineer from the Arts et Métiers institute in Paris.
Sofinnova Partners led the round, investing €4 million alongside returning investors, with ALK-Abello investing €2 million. In addition to equity, ALK-Abello will have a seat on DBV Technologies’ board. 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. Also we are very pleased to be financially sponsored again by our leading financial investor, Sofinnova Partners.”
ALK-Abello President and CEO Jens Bager said:”We are very pleased to bring our long lasting expertise in Allergy to this promising Biopharmaceutical company and its innovative therapeutic approach towards peanuts allergy.”
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