TES Pharma S.r.l announced that it has entered in to purchase agreement to raise a round of funding on April 17, 2024. The company will issue common shares in the transaction. The transaction will include participation from new investors Xgen Parallel Euveca Fund and Xgen Venture Life Science Fund, funds managed by XGEN Venture SGR S.p.A. for ?10 million and Brunello Cucinelli S.p.A. Post completion of the transaction, XGEN Venture SGR S.p.A. will hold 30% stake in the company.

The company will raise funding in several tranches.