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Laminar Pharma Seeks €30 Million to Quell Glioblastoma

Of the total amount that Laminar Pharma estimates it needs, $10.7 million (€10 million) correspond to bank financing already agreed with Banca March. In addition, the company has just opened a round with Capital Cell. The majority of the resources raised by the company will be dedicated to the clinical study of LAM561 and the rest will go to various preclinical and clinical studies

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Laminar Pharma is in search of financing, to develop its drug against brain tumors. The Balearic company specialized in the rational design of drugs needs $32 million (€30 million) to be able to carry out clinical studies of its product LAM561, indicated against glioblastoma, an aggressive type of cancer that is generated in the brain or spinal cord.

This was recognized by Pablo Escribá, CEO and founder of Laminar Pharma, to PlantaDoce, which wants to launch this product on the market at the end of 2023 or the beginning of 2024. Of the total amount that Laminar Pharma estimates it needs, $10.7 million (€10 million) correspond to bank financing already agreed with Banca March, according to the company’s founder.

Regarding the other $21.4 million (€20 million), the company has already made a move and has just opened a financing round of $1.7 million (€1.6 million) through the crowdfunding platform Capital Cell, with which it has so far raised around $750,000 (€700,000) with the participation of more than one hundred investors. In 2019, Laminar Pharma closed its first round via Capital Cell raising $2.14 million (€2 million).

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Laminar Pharma is confident of launching its drug against glioblastoma by 2024 at the latest

The majority of the resources raised by the company will be dedicated to the clinical study of LAM561 and the rest will go to various preclinical and clinical studies with investigational drugs in Laminar Pharma’s portfolio.

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Laminar Pharma is a company working on the design of innovative drugs based on a proprietary technology platform called membrane lipid therapy (melitherapy). Most drugs are directed towards proteins or nucleic acids, but until now no therapies have been directed towards the other large group of macromolecules, the lipids that make up cell membranes.

Since 2006, the company has been researching the lipid alterations that occur in the cell membrane, studying their relationship with various pathological processes and developing pioneering and innovative therapeutic molecules to improve the quality of life of people affected by serious diseases.

LAM561 is currently in clinical phase III

LAM561 is currently in clinical phase III and is expected to apply for marketing approval within a year. The clinical trial aims to make LAM561 the first-line and standard of care treatment for glioblastoma. The company is 80% owned by a group of fifteen to twenty shareholders, including the founder of Laminar Pharma.

Pablo Escribá invented and developed melitherapy and is the co-inventor of the patents under development by Laminar Pharma and its licensees. In addition, he has conducted research studies in the United States (New York, Kansas City, and Charleston), Switzerland, and Hungary.

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

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(Featured image by Lucas Vasques 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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Olivia McCall is passionate about education, women and children’s rights, and the environment. A long-time investor, she covers news about the latest stocks (lately marijuana and tech), IPOs and indices, and is always on the lookout for socially responsible startups. She also writes about the food sector, and has a keen interest on cryptocurrencies.