Laminar Pharma Expects to Reach €1 Billion in 2026 and Rules Out IPO

Laminar Pharma accelerates with its drug against brain tumors. The Balearic company, which specialized in the rational design of drugs, aims to reach €1 billion million annually in 2026 through its drug against glioblastoma, an aggressive type of cancer that is generated in the brain or spinal cord, according to David Roberto, financial director of the company.

The group has launched an investment round of €15 million to finance its activity until next year when the company expects to reach break even.

The company estimates the conditional approval of the drug from the European Medicines Agency for September 2024. Looking ahead to 2025, Laminar expects its revenue to start to skyrocket.

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Laminar Pharma estimates for September the conditional approval of its drug against glioma

However, starting in 2026, when Laminar expects its brain tumor drug to be released, it will achieve revenues of at least $1 billion a year. The drug, which is considered a blockbuster (forecast sales of more than one billion a year), would fight against a disease that so far has no cure.

The company, for now, has also ruled out going public, which had been initially contemplated. “We spent a long time thinking about it, with the aim of receiving investors and gaining visibility, but we have discarded it because we no longer need so much external capital and, for now, we can move forward with current resources,” Roberto detailed.

Laminar Pharma will reach a turnover of €30 million in 2023, although the company assured that, if a license agreement were reached with other partners in the sector, the figure would skyrocket

Laminar Pharma projects to reach €30 million in 2023

In addition to the drug against brain tumors, Laminar has two other drugs licensed in phase two: one, developed together with Ability Pharma, against pancreatic cancer, and another for spinal cord injuries. In addition, it plans to continue developing drugs against Alzheimer’s, Parkinson’s, and anti-infectious diseases in the coming years.

Laminar Pharma was founded in 2006 as a project of the University of the Balearic Islands (UIB) by the researcher Pablo V. Escribá. Currently, it has 1,800 investors in total, although 80% of the company is in the hands of a group of between fifteen and twenty shareholders, including Escribá.

Another of the company’s shareholders is the Matutes family. In fact, on the board of Laminar Pharma is Manuel Matutes Mestre, founding partner of Aguaduna.com, Kei Cities, and director of the Palladium Hotel group.

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(Featured image by National Cancer Institute via Unsplash)

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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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