Creabilis, a clinical stage European biotechnology company, has raised $20 million in a Series B funding round led by Abbott Biotech Ventures. Existing investors Neomed and Sofinnova Partners, as well as private Italian investors, joined the round. The new funds will be used to finance the development of the company's first-in-class treatments, including its lead product CT327 to the end of phase II.
Dr. Eliot Forster CEO of Creabilis said, "This new funding reflects the medical importance and significant commercial potential of our drugs pipeline. In Abbott Biotech Ventures, we have added another leading life science investor into the Company. Their involvement, and the ongoing support of our existing investors, demonstrates their confidence in the Company and in our ability to drive our projects forward."