Endolipid Therapeutics opens a €400,000 financing round

Endolipid Therapeutics, looking for capital to grow. A spin-off of the Vall d’Hebron Research Institute (Vhir), the company has opened a $453,000 (€400,000) financing round through the Capital Cell platform.

The biotech company has the support of Genesis Ventures and Nanomol Technologies, the latter as a technology partner with expertise in drug delivery of peptides. The company has developed a technology platform for the reduction of ectopic fat based on peptides that mimic the beneficial action of Sex-Hormone Binding Globulin (Shbg).

After studying the sequence and structure of Shbg, Endolipid Therapeutics has designed and developed two peptides, EDL3D and EDL6D. The first one is for the topical treatment of cellulite and is ready to be licensed to a dermo-cosmetic company for co-development and subsequent market launch in the first half of 2023. The EDL6D peptide is focused on the oral treatment of Nash. This compound is undergoing in vivo validation in animal models for further optimization during 2022 until a preclinical candidate is selected and regulatory development begins late next year.

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Endolipid Therapeutics has developed a peptide platform

With this round, the company aims to cover development costs during 2022 to reach two milestones: licensing the anti-cellulite product EDL3D to a dermo-cosmetic company for co-development and subsequent commercialization, as well as taking the anti-Nash peptide EDL6D to the preclinical candidate phase also finalizing the in vivo validation of the use of Shbg mimetic peptides in this pathology.

The business model envisioned consists of B2B in two stages derived from the company’s two assets in cellulite and Nash. A license sale of EDL3D for cellulite to a cosmetic company is planned in 2023 following joint development during 2022.

This may involve milestone payments achieved during the coming year and royalties based on sales from 2023 onwards. In 2026, EDL6D for Nash is planned to be licensed to a pharmaceutical company for development and commercialization.

The company’s CEO is Albert Palomer, a board member and startup consultant in Spain, Belgium, Germany, and South Africa. He was also CEO of Abac Therapeutics, where he led a €16 million round in 2014 and the sale of the company and its core asset four years later.

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(Featured image by geralt via Pixabay)

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