Creabilis, which is headquartered in Luxembourg, has raised 15 million euros in a series B funding led by Abbott Biotech Ventures.
Existing investors Neomed and Sofinnova Partners, as well as private Italian investors, have joined the round, the funds from which will be used mainly to finance Creabilis' lead product CT327 to the end of Phase II. The drug is a novel topically applied TrkA kinase inhibitor and positive efficacy of CT327 has been seen in two Phase IIa studies, in both psoriasis and atopic dermatitis.
CT327 is also in development for the treatment of pain, with proof-of-concept trials currently underway. The company’s pipeline also includes CT637, "a new approach to the treatment of significant inflammatory and autoimmune conditions".
Creabilis chief executive Eliot Forster said the new funding "reflects the medical importance and significant commercial potential of our drugs pipeline". He added that in Abbott Biotech Ventures, "we have added another leading life science investor into the company".