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Iproteos S.L.. (10/25/16). "Press Release: Iproteos Closes a Round of Funding Valued at 1.5 Millon Euros". Barcelona.

Organisations Organisation Iproteos S.L.
  Organisation 2 Caixa Capital Risc
  Group la Caixa (Group)
Products Product psychopharmaceutical
  Product 2 venture capital
Index term Index term Iproteos–SEVERAL: investment, 201610 financing round €1.5m led by Caixa Capital Risc + co-investors Kinled Holding + Ascil Biopharm
Person Person Tarragó, Teresa (Iproteos 201503 Founder + CEO)
     


• The biotech will set aside this injection of capital – led by Caixa Capital Risc – to complete the preclinical phase in order to start Human Phase I trials of its compound to the treatment of Cognitive Impairment Associated with Schizophrenia. The drug is one of the few under development worldwide to halt the progression and reverse the symptoms of this condition.

• The drug is a first-in-class for the treatment of Cognitive Impairment Associated with Schizophrenia (CIAS). The compound has been developed using their proprietary IPROTech, a cutting-edge platform the fast and cost-effectively obtaining of innovative drugs.

• Iproteos, settled at the Parc Cientific de Barcelona, is a spin-off created in 2011 by two Catalan leading scientists in the field of therapeutic peptides, Teresa Tarragó and Ernest Giralt, based on the technology transfer from IRB Barcelona and the University of Barcelona


Biotech Iproteos – based at the Parc Científic de Barcelona– has closed a round of funding valued at 1.5 millon Euros, led by Caixa Capital Risc and with participation of Kinled Holding, a Hong Kong based investment company with offices in London, New York and Zurich, and the biotech ASCIL Biopharm.

The biotech will set aside this injection of capital to the completion of the regulatory preclinical phase of his compound, a first-in-class drug for the treatment of Cognitive Impairment Associated with Schizophrenia (CIAS). The compound is one of the few that are being developed around the world to halt and reverse the cognitive impairment caused by this disease.

"Iproteos begins a new stage in the life of the company, with support from Caixa Capital Risc and Kinled. Their incorporation into Iproteos provides us a wider range of resources, both financial and professional, to ensure that the drug reaches patients as soon as possible. The experience of both investment funds coupled with the experience provided by ASCIL Biopharm´s team is a competitive advantage that will allow Iproteos to work hand in hand with leading experts from different areas of the drug development" said Teresa Tarragó, CEO and cofounder of Iproteos.

Iproteos will carry out the regulatory preclinical phase of its drug to then be able to carry out clinical trials in humans. The company intends to conduct Phase I and Phase IIa studies. After the efficacy test in patients, Iproteos will license the drug to a large pharmaceutical company that will take on the completion of its development. Several companies have already shown interest in the molecule developed by the Barcelona-based biotech.

Iproteos has been able to get to where it is now thanks to funding from private investment and public funding. The company has obtained financial support from the Ministry of Economy and Competitiveness, the European Union, through the H2020 program, and ICEX and ICF funding.

Iproteos has several projects under development in the field of schizophrenia, epilepsy and atherosclerosis, being the first one the most advanced. Iproteos cognitive enhancer is a next generation drug developed by its proprietary technology IPROTech, a cutting-edge platform that combines computational and biotechnology tools developed by Iproteos research team for the design of innovative therapeutic molecules, called peptidomimetics. This technology speeds up the research process to obtain new drugs, through highly advanced computational chemistry tools specifically designed to generate and model novel molecules.

Kinled is delighted to join Caixa Capital Risc in the funding of Iproteos. Kinled Chairman Patrick Aisher said: "Iproteos can become a leading player in developing peptidomimetics drugs to attend the vast potential of new compounds in the Centroal Nervous System (CNS) disease market."

"Iproteos's state of the art in-house developed technology, very strong team and solid match with what Kinled believes it can provide as an active investor, were amongst the main reasons for the investment decision", said a company spokesperson.

Schizophrenia is a severe form of mental illness, which according to data from the World Health Organisation, affects around 7 per thousand of the world's population, about 45 million people. Around 75- 80% of schizophrenia patients are estimated to be affected by the Cognitive Impairment Associated with Schizophrenia(CIAS). These symptoms include memory impairment, difficulty to process information and reduced capacity to pay attention, affecting the day to day of schizophrenia patients and thir sorrounidngs.

“Currently available antipsychotic drugs treat positive symptoms (delusions, hallucinations, etc.) and negative symptoms (slurred or difficulty of speech, inappropriate emotions, etc.) of schizophrenia but but not schizophrenia cognitive impairment. The compound developed by Iproteos has demonstrated its efficacy as a cognitive enhancer in in vivo preclinical trials. The results have shown a significant improvement in learning and memory abilities, which does not happen with the administration of current available treatments. The step taken now by Iproteos with the entry of Caixa Capital Risc, Kinled and Ascil-Biopharm, is a reaffirmation of our commitment for scientific research in an unmet medical need such as schizophrenia” explains Dr. Tarragó.


About Iproteos

Iproteos (www.iproteos.com), located at the “Parc Cientific de Barcelona”, is a spin-off that was created based on the transfer of technology developed within the Institute for Research in Biomedicine (IRB Barcelona) and the University of Barcelona, with the strategic participation of the Bosch i Gimpera Foundation.

Founded in 2011 by Teresa Tarragó and Ernest Giralt, Iproteos was created to develop third-generation drugs with greater effectiveness, fewer side effects and at a lower cost, covering the development stages to preclinical and clinical validation, to ultimately license the peptidomimetic drug to third parties.

The biotechnology’ company has been supported by the Department of Business and Employment of the Generalitat of Catalonia- through the Assessment Units of ACCIÓ, the agency for business competitiveness of Catalan companies-, and the Ministry of Economy and Competitiveness through the INCORPORA subprogram; by ICEX Spain Exports and Investments, through the program ICEX Next; and a NEOTEC project from the Center for Industrial Technological Development (CDTI) and the European ‘s Horizon 2020 research and innovation programme under a Marie Sklodowska-Curie grant agreement (No. 642881)


About Caixa Capital Risc

Caixa Capital Risc, the venture capital agent of the group “la Caixa”, is an institutional investor of reference that provides capital and equity loans to innovative companies in their first stages. Through specialized vehicles, Caixa Capital Risc invests in the first capital rounds (seed phase) and in subsequent phases (rounds A and B). With more than 170 companies in its portfolio at different levels of development, Caixa Capital Risc currently manages 180 million euros in 8 investment vehicles that are focused in three specialized knowledge areas: life sciences, digital technologies and industrial technologies.

Together with the investment activity, Caixa Capital Risc develops an intense entrepreneur support activity in Spain through diverse initiatives that promote knowledge transfer and company acceleration, such as the “Premio Emprendedor XXI” (Entrepreneur Prize) or the “Programa Caixa Impulse”.


About Kinled

Kinled Holding is the private Hong Kong-based investment vehicle of a prominent Anglo-Austrian family. Kinled has over 25 years experience in life sciences and technology investments, primarily focussing on early stage ventures. Nine of its portfolio companies have reached public markets via IPO.

In the life sciences industry, Kinled has previously assisted portfolio companies in either licensing or selling their proprietary technology to some of the most significant players in the market, such as Becton Dickinson, Astra Zeneca, Novartis and most recently Medtronic. Kinled brings a very hands on approach to the management of its portfolio businesses and commits to exploring its vast network to help each portfolio business achieve its maximum value.


About ASCIL Biopharm

ASCIL Biopharm (www.ascil-biopharm.com), settled at the “Parc de Recerca i Innovació de la Universitat Politècnica de Catalunya (UPC)”, is an expert company on innovation and development applied to new therapeutic Drug Delivery System (DDS) and administration dispositives. The company was created in Barcelona in 2012.

Its mission is to create pharmaceutical products, dispositives and medical effective and patentable therapies, that ameliorate the welfare and treatment compliance. The specific know-how of ASCIL Biopharm allows to suggest product-dispositive combinations for unmet therapeutic areas. The activity areas of the company are human health (pharmaceutical and biotechnological), animal health and innovations in the field of dermocosmetics.

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For further information: Azucena Berea • Press • Parc Científic de Barcelona • Tel. 93 403 46 62 • aberea@pcb.ub.cat

   
Record changed: 2017-03-11

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