Creabilis, a clinical-stage European biotechnology company, has secured $20 million in a series B round of venture capital financing. The investment round was led by Abbott Biotech Ventures.

Existing investors Neomed and Sofinnova Partners, as well as private Italian investors, also took part in the fundraising process. The company intends to use the proceeds to finance the development of its first-in-class treatments, including its lead product CT327, to the end of phase II.

Click here for the release from PR Newswire.