Laminar Pharma Raises 5.9 Million in a New Round of Financing

Laminar Pharma closes a new round of financing. The Balearic biopharmaceutical company has raised 5.9 million euros for its growth and launch of new products. The company had been looking for financial support since last April and the plans were to raise seven million euros, according to El Confidencial.

The round was led by the Matutes family, which is now part of Laminar Pharma’s capital. Other investors who participated in the round were the Alba Pérez Foundation, which fights against childhood cancer; and Dentol Capital, the family office of lawyer David Devesa, who was already a shareholder in the pharmaceutical company.

By mid-September, Laminar Pharma had already raised 4.2 million euros. The remaining 1.7 million came from minority contributions of a minimum of 3,000 euros.

Laminar Pharma is in talks with a major pharmaceutical company for the launch of its anti-tumor drug

Laminar Pharma’s goal with this new round is to launch its drug against glioblastoma, an aggressive tumor that develops in the brain or spinal cord. The drug will be marketed under the name LAM 561 and will tackle a type of cancer that currently has no cure.

With this launch, Laminar Pharma expects to generate one billion euros by 2026. The launch of this new drug would be done in collaboration with a large pharmaceutical company, whose name has not been disclosed.

Laminar Pharma was created in 2006 as a project of the University of the Balearic Islands (UIB) led by researcher Pablo V. Escribá. In 2019, the company turned to the Capital Cell platform to obtain funds in this way. After this commitment, they went from having around one hundred shareholders in 2018 to 800 in 2019.

__

(Featured image by kalhh via Pixabay)

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.