Biopharmaceutical firm SuppreMol has raised €16m ($20.6m) in series D funding in a round backed by MIG AG, Santo Holding and BioMedPartners AG as co-lead investors.

Also joining the round were FCP Biotech Holding and research group the Max Planck Society.

The round was made up out of two closes with the same investors. The first close of €6.5m was back in September 2012, while the latest close two days ago was for €9.5m. In total, the firm has raised around €51m.

SuppreMol was spun-out of the Max Planck Institute for Biochemistry using research developed in the laboratory of Professor Robert Huber, Nobel Prize Laureate in Chemistry 1988.

The Germany-based firm plans to use the additional funds to advance the Phase II studies of its product, SM101. The product is a treatment for Primary Immune Thrombocytopenia, a serious bleeding condition where the blood cannot clot due to auto-antibodies attacking it.

Klaus Schollmeier, who joined SuppreMol as chief executive at the beginning of April 2013, said: “I am impressed by the strong commitment of our investors. The financing round will enable us to advance our lead product SM101 in Phase II trials and further deepen our knowledge regarding the FcgRIIB-platform.”

Major shareholders in SuppreMol include MIG Fonds, BioMedPartners AG, Santo Holding GmbH and FCP Biotech Holding GmbH along with KfW Mittelstandsbank, Bayern Kapital GmbH, Max Planck Society, and Z-Cube.