In the last month we have heard about two Spanish companies that focus on the fight against cancer, Immunostep and Idp Pharma, which have received funding.
Immunostep receives €1.2M round from Altia capital
The company Salmantina Immunostep was created at the University of Salamanca in 2007 and is dedicated to the development of reagents based on monoclonal antibodies for use in the diagnosis of human diseases, such as some cancers, using Flow Cytometry techniques.
Immunostep has received €1.2M from investors associated with the platform, also from Salamanca, Alentia Capital Alternative.
The injection received will allow the development of the company's business plan for the coming years and avoids its possible delocalisation after the founding partners rejected a higher offer from a Chinese fund.
Alentia's investors have bought out the shares held by a Galician investment fund and a venture capital firm whose term in the company was coming to an end and who were interested in divesting. The exit of these funds endangered the stability of the company's capital, so the entry of Alentia's investors will allow the founding partners to enjoy a period of stability and focus on the company's business.
The investors who have entered the company highlight Immunostep's growth potential, which in the coming years will focus on the internationalisation of the company and the development of new biotech products.
Idp Pharma secures €1.4M investment
IDP Pharma is a biotech company located in Barcelona's science park that develops new therapies against cancer.
The company has received €1.4M from industrial investors and business angels.
The company will use the capital injection, among other things, to complete pre-clinical development of its two candidates for the treatment of multiple myeloma, a rare and incurable disease of the bone marrow and the second most common blood cancer.
Previously, it had obtained €575,000 of public funds from the CDTI, from the NEOTEC, from the Empresa Nacional de Innovación S.A. (ENISA), the Ministry of Economy and Competitiveness (MINECO) and the Acció agency of the Generalitat de Catalunya.
These funds are in addition to the €100,000 raised in a first round closed in June 2015 with small investors, mainly scientists.
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