Oniria Therapeutics Closes a Financing Round of €1.2 Million

Oniria Therapeutics set to advance cancer research. The biopharmaceutical company has closed a round of financing of €1.2 million led by Mind the Gap of the Botín Foundation, according to the company’s statement.

Oniria Therapeutics was founded in 2021 by Esther Rimbau, current CEO, and Héctor G. Palmer, president of the biopharmaceutical company. The company emerged as a spin-off of the Vall d’Hebron Institute of Oncology (Vhio), the University of Barcelona (UB), and the Catalan Institute for Research and Advanced Studies (Icrea).

The company specializes in the development of a drug to fight persistent tumor cells, which are the ones that cause metastasis and direct patients toward deadly phases. The objective of this round is for the company to advance in the development of a drug to eliminate latent tumor cells in conventional treatments.

In the round, led by the Botín Foundation’s biotechnological entrepreneurship program, BStartups from Banco Sabadell participated, as well as business angels and public injection by Startup Capital de Acció and Investigo de Agaur (both from the Generalitat de Catalunya) Torres Quevedo of the Ministry of Science and Innovation and Investigation.

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Oniria Therapeutics has conducted preclinical trials with effective results in colon cancer, melanoma, and acute myeloid leukemia in animals

The general director of the Botín Foundation, Íñigo Sáenz de Miera, has pointed out that “the investment in Oniria Therapeutics reinforces our commitment to the transfer of technology to Spanish entrepreneurs who develop therapeutic innovation with a high socio-sanitary impact.”

The company, based at the Cellex Center of the Vall d’Hebron hospital campus in Barcelona, ​​has carried out preclinical studies with different drugs that activate the TET2 enzyme and the results have been effective in animal models of colon cancer, melanoma, and acute myeloid leukemia.

Oniria’s board of directors will be made up of Héctor G. Palmer, who is the scientific director and will hold the position of president, while Esther Riambau and Marc Ramis, business advisors representing the Botín Foundation, will be members.

Rimbau has highlighted that “attacking the latency of cancer cells opens up new treatment avenues that can cure or prolong the lives of millions of patients”, and has pointed out that “the resources of this round will allow us to select our final drug candidate to enter in the regulatory preclinical phase at the beginning of 2024”.

Oniria Therapeutics is a company dedicated to the development of precision drugs in the preclinical stage focused on the elimination of persistent tumor cells, which are responsible for 90% of cancer deaths.

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(Featured image by kkolosov via Pixabay)

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