Biotech
Capital Cell embraces the biotech sector
ZeCardio Therapeutics is a pharma company that will change the way we develop cardiovascular drugs. The company utilizes cutting edge screening and analysis technology to reduce costs and develop novel treatments faster than the competition. The company has turned to the crowdfunding platform Capital Cell in order to raise funds to develop new drugs.
The Spanish crowdfunding platform Capital Cell will be the stage for the spin-off of the Catalan biotech company Zeclinics to launch its investment round. Capital Cell has brokered transactions worth over $2,2 million (€2 million).
Capital Cell is once again embracing the biomedical sector. On this occasion, crowdfunding platform will be the chosen setting for Zecardio Therapeutics, to open a $1,1 million (€1 million) investment round to develop new drugs, as explained to PlantaDoce by Daniel Oliver, CEO of Capital Cell.
ZeCardio Therapeutics is developing three projects in the drug discovery phase. The most advanced enters the field of cardioprotection, an area with a wide spectrum of unmet medical needs. Beyond these molecules (there are two in cardioprotection), the company is also working on the discovery of two other agents to combat dilated cardiomyopathy and facilitate heart regeneration, respectively.
The spin-off was founded in July of 2019, although its history reaches back to 2017. At that time, ZeClinics received a $2,1 million (€1.87 million) grant from the European Commission to develop a video analysis platform evaluating the effects of various compounds on the cardiovascular system of zebrafish in real-time. Although the company is one of the major drivers of zebrafish use in pre-clinical studies, the development of its new drugs will have to meet current requirements, which require testing in at least two mammal species.
Get everything you need to know about finance with the Born2Invest mobile app. With daily news on biotechnology and other financial headlines in European countries and markets.
Capital Cell has served as a platform for other companies such as Qmenta, Oxolife or Laminar Pharma
Last December, ZeClinics was selected to participate in Reanima, a project led by the National Center for Cardiovascular Research (Cnic), a body under the Ministry of Economy and Competitiveness, and the Carlos III Institute of Health in Madrid. The initiative has a total budget of $8,8 million (€8 million), provided in full, by the European Commission through the Horizon 2020 program.
But, it’s not the only project sponsored through Capital Cell. Qmenta, a company that uses Artificial Intelligence image recognition to accelerate the diagnosis and treatment of neurodegenerative diseases, has recently closed a round of $1,48 million (€1,35 million). Oliver commented that of the total amount, $772,000 (€700,000) came from investors from outside of Spain.
Another company about to close a round is Oxolife. The Barcelona company, which has developed a drug that offers a solution for embryo implantation, has committed $992,000 (€900,000). Although the names have not been disclosed at this point, an investment fund, and a network of Spanish business angels would be willing to collaborate with a minimum of $137,000 (€125,000) and $661,000 (€600,000), respectively.
The investment platform brokered transactions of over $6,6 million (€6 million) in 2019
Other recently closed rounds include those involving Laminar Pharma, which raised $446,000 (€400,000); InnoUp raised $1,1 million (€1 million); and Rithmi, with over $330,652 (€300,000).
In the words of the CEO of Capital Cell, “at the beginning of February, we had accumulated more or less $2,9 million (€2,7 million) in different operations and with different companies.” The executive is optimistic about the future and recalls that Capital Cell closed 2019 with an accumulated amount of $7,2 million (€6,5 million).
__
(Featured image by camilo jimenez via Unsplash)
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.
-
Crypto7 days ago
Ripple Custody: How the XRP Company Wants to Offer Services for Banks
-
Crowdfunding2 weeks ago
Tifosy, UK Crowdfunding Platform Dedicated to Sport, Has Been Authorized by Consob
-
Fintech3 days ago
Fintech Company Sonect Wants to Supply Europe with Cash
-
Biotech1 week ago
Vytrus Biotech Reports Its Best Quarter: Record Revenue and Rising EBITDA