Good news for Spanish biotech, Iproteos has received a €1.5M round. Oryzon, which has been receiving venture capital backing since 2009, was able to go public last year and this week, after the good results published for its product, its share price has risen by 40%.
Iproteos receives a €1.5M round of funding
The Catalan Iproteos, which has several projects under development in the fields of schizophrenia, epilepsy and atherosclerosis, has closed a €1.5M round of funding led by Caixa Capital Risc and in which Kinled Holding - an investment company based in Hong Kong with offices in London, New York and Zurich - and the biotech company ASCIL Biopharm have also participated.
This round allows Ipotreos, which has several products in the pre-clinical stage, to move towards the market with both financial resources and the experience of knowledgeable agents in the sector.
Iproteos also has its own technology, IPROTech, a cutting-edge platform that combines computer and biotechnological tools developed by Iproteos' own research team for the design of innovative therapeutic molecules, called peptidomimetics.
Previously, Iproteos had raised €100,000 through a crowdfunding campaign.
Oryzon soars more than 40% in stock market on advances in its anti-tumour drug in development, which has a deal with Roche
The share price of Oryzon (40%) on Wednesday 15 November as it obtained positive results in the first clinical trials of its most advanced anti-tumour drug, ORY-1001, in patients.
In the Thursday and Friday sessions investors took the opportunity to cash in and the stock corrected by 2%, but on Monday it rose again.
Among the investors that have made a profit is the Generalitat, through the company for the promotion and industrial location of Catalonia Avançsa. The Generalitat sold shares at €4.63 for a total amount of €449,762, which generated a profit of €212,264.
The listed company has an agreement, the most important in Spanish biotechnology, with Roche, under which the Catalan lab will receive up to €500M from the Swiss multinational as clinical research and market launch of the drug progresses. With this milestone, Oryzon has completed its part of the molecule's development.
Oryzon, founded in 2001, went public in December 2015, having received two rounds of investment worth €28M.
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