On June 2011 PharmEste closed a further Capital increase of € 4.8 million financed by the current Round B Investors, providing the Company with further resources added to the second financing stage (Round B) closed in September 2008 for € 6 Million.
Total amount collected in the Round B is therefore € 10.8 million, mainly used to complete the Phase I clinical development of PHE377, the pre-clinical development of PHE575, the 2nd generation of TRPV1 antagonists, and to select a new TRPA1 antagonist. The investment is supported by the financial partners Z-Cube s.r.l., the corporate venture of the Zambon Company S.p.A , Quantica SGR(Italian leading vc Company), the Asset Management Company dedicated to innovative Venture capital activities, Emilia Venture, managed by MPS Venture SGR (Montepaschi Group), MP Healthcare Venture Management Inc., the Boston Venture fund jointly owned by Mitsubishi Tanabe Pharma Corporation and Mitsubishi Chemical Holdings Corporation in Japan and Zernike Meta Venture.
On January 2007 PharmEste closed a € 3.2 million Round A financing with Z-Cube srl as lead investor and Quantica SGR, Zernike Meta Ventures, Fondamenta Sgr as co-investors.