ALA Diagnostics raises capital. The Spanish biotech company specializing in the development of in vitro diagnostic kits for pathologies with high prevalence or unmet medical needs has closed a round of financing of €1.1 million led by BeAble Capital, which takes a minority stake in the company, as explained by José Ramón Montero, founding partner and general director of ALA Diagnostics.
With the new injection of capital, the Spanish biotech company has the necessary investment to complete the development of its kit for the early diagnosis of Multiple Sclerosis, according to Montero.
In this operation, ALA Diagnostics has had the support of Ana Montero, as the company’s legal advisor, and Klecha&Co, a European investment bank, as financial advisor in the transaction. BeAble Capital has had the support of Think Legal Abogados, as legal advisor to the fund in the operation.
Read more about ALA Diagnostics and find the most important business news of the day with the Born2Invest mobile app.
ALA Diagnostics will open a laboratory in Madrid in the coming months
The company will complete the development of its diagnostic kit and will face international clinical trials in the coming months that will allow the product to be marketed in Europe and the United States.
One of the objectives of the financing round is the creation of a laboratory in Madrid for the production of the diagnostic kit, which will be operational before the end of the year, and the growth of the company, creating “a multidisciplinary and highly qualified team to face the last stage of development. Although at the moment the exact location of the laboratory is unknown, Montero has stated that it will be located “within the M-30”.
ALA Diagnostics was created in 2019, as a result of the identification of an opportunity for the development of a blood diagnostic kit for Multiple Sclerosis, applicable to the early diagnosis of the disease, based on a recombinant protein whose activity as a diagnostic biomarker has already been validated. in clinical studies.
The company closed its first round of financing in 2021 for the development of the ALA Diagnostics Em Kit, the first test for the early diagnosis of Multiple Sclerosis in blood. The test is based on a recombinant protein whose activity as a diagnostic biomarker has already been validated in 598 human samples. In addition, at the beginning of the year, the company received a non-refundable grant of more than half a million euros from the European Commission for research and development (R&D) activities.
The company hopes to market its product in Europe and the United States in the coming months
The diagnostic kit that ALA Diagnostics plans to put on the market combines a specific biomarker for the detection of MS in blood, a design that allows its easy integration into clinical routine, and a diagnostic algorithm that provides greater precision to the diagnosis.
José Ramón Montero, in addition to being the CEO of the company, has fourteen years of experience in the biotechnology sector, carrying out functions related to the management of research, development, and innovation (R+D+i) projects, the feasibility analysis of projects, preparation of business plans, business strategy and advising biotechnological start-ups. He is accompanied by Óscar Fernández on the management team, a clinical neurologist with more than forty years of experience. The founding team retains the majority of the company’s capital.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Jazz Pharmaceuticals’ Leukemia Drug Receives European Commission Approval
Jazz Pharmaceuticals is a biopharmaceutical company dedicated to the development of drugs in neuroscience and oncology. Founded in 2003 in...
Citi Announced a $6 Million Loan to Sempli for SME financing
The credit granted by Citi was given in partnership with high-impact investors and multilateral development organizations. They all seek to...
How Will the Price of Ripple and Cardano Develop in the Next Few Days
The BOLL indicator shows no specific pattern and denotes the support price of $0.4969 and the resistance price of $0.5059,...
RADEEF: a 182 Million Dirham Plan to Combat Flooding in Morocco
RADEEF is also planning major expansion projects. Firstly, it plans to launch work on extending the wastewater treatment plant. The...
How Institutional Investors Feel About Impact Investing
Investors continue to face greenwashing when implementing impact investing. Among their key concerns are misleading or exaggerated impact claims (60%),...
Biotech1 week ago
AbolerIS Pharma Closes a Round of €27 Million Led by Caixa Capital
Crypto2 weeks ago
BitBoy Crypto Ends Partnership with Youtuber Ben Armstrong
Business3 days ago
Current Woes in Bonds Promise Future Grief for Stocks: Focus on Dow Jones
Business1 week ago
Your Small Business Phone Is Scaring Away 94% of Your Clients. Here’s How to Fix it With Air Landline