Libera Bio Opens Financing Round of €12 Million

Libera Bio is in search of capital to continue to grow. The biopharmaceutical company that develops therapies against cancer has opened a financing round with which it seeks to raise up to twelve million euros, according to the company’s director of operations and founder, Desirée Teijeiro.

In its search for financing, the company has just received an economic injection from the government of €335,000 within the Neotec program carried out by the Center for Industrial Technological Development (Cdti).

Libera Bio was founded in 2016 as a  spin-off of the University of Santiago. The company was part of the Ignicia Knowledge Transfer program, carried out by the Xunta de Galicia and the Barrié Foundation. 

If you want to find more details about Libera Bio and to read the latest business headlines from around the world, download for free our companion app Born2Invest.

The company applies nanotechnology to develop precision medicines focused on cancer therapies

The biopharmaceutical company applies nanotechnology to develop precision drugs for cancer therapies.  Libera Bio has a patented technology, called MPN Technology.

The company’s focus is on developing therapies against the Kras gene mutation, the most common in human cancer, which causes nine out of ten pancreatic cancers of the pancreatic ductal adenocarcinoma type.

At the beginning of the year, the Spanish company signed an alliance with the American technology Evqlc to jointly address intracellular targets. Referring to the agreement between the two companies, Evqlc CEO and Co-Founder Andrew Satz highlighted that “combining computational antibody design with Libera Bio’s novel intracellular delivery technology will allow us to go beyond the current limitations of antibodies, opening a series of innovations for patients”.

Libera Bio is in talks with other companies to enter into collaboration agreements in which larger intracellular targets are addressed

Last March, the biopharmaceutical company signed a new collaboration agreement, after partnering with Immunoprecise Antibodies, a subsidiary of Talem Therapeutics, to discover multi-target antibodies using Artificial Intelligence (AI). The union has raised an initial payment of $155 million and subsequent payments for commercial royalties and developed products. The collaboration between the two will be based on the use of Libera Bio’s patented technology to deliver antibodies into tumor cells.

Other agreements could be added to these agreements to address intracellular targets since the company is in discussion with other companies in the sector. Libera Bio anticipates by the end of the year the entry of one of its drugs into the manufacturing and chemical control or strategy (CMC) phase and into the regulatory preclinical phase, both necessary for the approval of clinical trials in humans.

The company’s business model consists of licensing each product to the pharmaceutical industry, after the proof of concept, that is, at the earliest possible stage. The company’s main source of revenue is from those licenses, which carry up-front payments, as well as milestone revenue and post-market royalties.

__

(Featured image by pasja1000 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.