Prospera Biotech Captures €500,000 and Forecasts Revenue of €300,000 in 2023

Prospera Biotech gains strength. The pharmaceutical company, which develops neuro dermatological treatments, opened a financing round in March with which it seeks to raise €600,000 and from which it has already raised half a million euros, according to the general director of Prospera Biotech, María García Escolano.

Prospera Biotech, founded in 2019, is a  spin-off of the Elche Institute for Research, Development, and Innovation in Health Biotechnology (Ibide), of Miguel Hernández University. The company develops dermatological products and researches treatments in this area.

Last year, the company billed around €150,000 and for this year it plans to double sales. The general director of the company, María García Escolano, highlights that “despite the fact that equilibrium has not yet been reached, the company expects to achieve it by 2024.”

The new round of financing, created through the Capital Cell platform, aims to develop a multicenter clinical study involving between 120 and 150 people and to commercialize the product. The trial includes fourteen Spanish hospitals distributed among the Valencian Community, Madrid, Catalonia, Aragon, and Castilla-La Mancha, among others, as well as a hospital in Brussels.

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Prospera Biotech plans to open a new round of financing with which to internationalize

The company is developing a drug, Oncapsisens, which is a moisturizing cream for the care of sensitive skin focused on patients undergoing cancer treatment. In a first pilot test carried out by the company, in which some thirty patients participated and 27 completed it, the result was that  80% of patients reduced discomfort.

With this round,  the company also plans to consolidate itself in the Spanish market with its portfolio of products, to later go international through the European Union (EU) and in three or four years go to North America, Latin America, or Asia.

For this new leap, the company plans another round of financing that it would also allocate to a pilot study at the Elche Hospital. The trial would include a cream derived from Oncapsisens, for the relief of aches and pains in patients with brain tumors receiving radiation therapy.

Prospera Biotech has a patented drug to treat excessive sweating and is working on products for atopic skin and care for the intimate area

The company is made up of three departments: the scientific committee, which works with the Miguel Hernández University, the commercial department, and the third department made up of the general director and business development.

Although the company’s next step is to launch the multicenter study, they are also working on the development of a care product for the female intimate area, products for atopic skin, and a product for excessive sweating, the latter being a drug already patented under the name Ecrisens.

The CEO added that “we have another series of research lines for dialysis treatments, care for the intimate anal area, care for sensitive skin with diabetes, all of them in different stages of development.”

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(Featured image by Mathieu Stern 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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