Perhaps due to its high technical component and its demanding value propositions, the biotech vertical often goes unnoticed in Spain, the birthplace of less deep tech giants such as Glovo or Cabify. It is, however, one of the segments called to revolutionize the state of medicine and the eternal aspiration for healthy longevity.
Read more about the Spanish biotech sector and find the latest financial news of the day with our companion app Born2Invest.
The Spanish biotech sector in the focus
In November 2023, Universal DX broke all the records of the year with a round of 64.1 million euros raised essentially in the US. Its preventive technology, close to being commercialized, will represent a before and after in the anticipation of different types of cancer, starting with colon cancer.
Led by Juan Martínez-Barea from Seville, the startup founded in 2012 reinforces a favorable premise: if Spain, with 13 million fewer inhabitants than Italy, raises more capital in the sphere of technological entrepreneurship , it is because there is plenty of talent and operating costs. They are advantageous compared to other neighboring economies.
The second company most endorsed by investors last year was the Valencian Arthex Biotech, protagonist of a round of 42 million. Specialized in therapies against diseases where conventional treatments fail, it symbolizes a perfect case of knowledge transfer from the university (via spin-off ) to the private sector.
Behind this duo stands out a bunch of Barcelona companies. Those mentioned below together raised around 82 million euros in 2023.
Artificial intelligence models
InBrain Neuroelectronics (20 million raised), SOM Biotech (17) and IOMED (10) are three examples of the revolutionary impact that AI will have on medicine, drug development and clinical bureaucracy.
The first develops personalized therapies to address neuronal disorders, the second focuses its efforts on the discovery of drugs and therapies for orphan indications and the third has software to structure patient records and accelerate research processes.
Prevention, the magic key
ADmit Therapeutics (5.4 million raised) and MiMark Diagnostics (5.2) focus respectively on the early diagnosis of Alzheimer’s and endometrial cancer (layer of the uterus that is very relevant to women’s reproductive function).
OneChain Immunotherapeutics (6,7) addresses the development of immunotherapies against hematological malignancies and Orikine Bio (5,5) specializes in cytokine engineering.
If Valencia and especially Seville represent a counterpoint to Barcelona’s hegemony in biotech , 2023 also included the competition in the Balearic markets of Laminar Pharma (8.8 million), whose strategy is based on a therapeutic approach called melitherapy.
Further away from the official biotech definition are the Canarian Woooptix (10 million, advanced image processing and manufacturing of scientific cameras) and the Basque Cimico (7 million, biotechnological solutions for wastewater treatment).
Again statistics depend on perspective. Last year, the Bankinter Observatory only counted 49.5 million captured under the heading biotech & life sciences , but Universal DX, Arthex and InBrain were left out of this label. The Reference makes a much more involving calculation and determines that this vertical actually moved 229 million.
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 elLiberal.. 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
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [1xBet Affiliate Program]
Wanna discover one weird sports betting niche with plenty of low-hanging fruit just waiting for you to exploit? Then read...
Which Are the Most Important Fintech News from February 2024
Monite secured $6 million in a top-up financing round, bringing its total seed-stage funding to $16 million. The funds will...
Spanish Pharma Listed Companies Reduce Their Profits by 37% in 2023
Of the Spanish pharma listed companies, PharmaMar has suffered the most significant drop in profits due to generic drug competition...
How Much Does Europe Invest in Sustainability
Europe is moving rapidly towards a renewal of the regulatory framework for sustainability , with the obligation for almost 50,000...
The German Medical Cannabis Market Could Be Worth Three Billion
Currently, the German medical cannabis market serves a relatively small part of the population, with approximately 28,000 patients, or less...
Business5 days ago
Dow Jones Daily Volatility’s 200D M/A Broke Below 0.50% this Week
Crowdfunding2 weeks ago
Recrowd Revolutionizes Real Estate Crowdfunding by Introducing New Contracts to Protect Investors
Crypto4 days ago
Bitcoin Whale Makes Historic Purchase of 1.3 Billion
Crypto1 week ago
Shimmer Airdrop Campaign a Success? The Interim Conclusion is Double-Edged