Panakes, Invitalia in €3m series-A for Aileens Pharma

VC firm Invitalia Ventures also took part in the investment via its Italia Ventures I fund, which closed on €87m in October 2017.

Panakes deployed capital from its first fund, which held a final close on €100m in January 2018 and targets biotech and pharmaceutical companies.

Panakes principal Barbara Castellano, Invitalia investment manager  Svetlana Vashkel and entrepreneur Maurizio Comini will join Aileens Pharma's executive board to support the company's CEO Sonia Longo Sormani in leading the company during this new phase of expansion.

The fresh capital will be used to accelerate the development of its platform of topical non-steroidal treatments for atopic dermatitis, complete their clinical development, obtain the CE mark and launch the products on the European market.

Company
Founded at the beginning of 2018 and based in Milan, Aileens Pharma specialises in the development of topical non-steroidal treatments for atopic dermatitis, as well as other types of dermatological disorders.

People
Panakes Partners - Alessio Beverina (general partner).
Invitalia Ventures - Sergio Buonanno (CEO).
Aileens Pharma - Sonia Longo Sormani (founder, CEO).

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• Topics
• Early-stage
• Southern Europe
• Healthcare
• Venture
• Italy