The company DeepUII has just increased its capital. Alta Life Science has co-lead with the French company Kurma Partners a financing round of $3.94 million (€3.5 million) in the Catalan startup. This company is the new project of Jordi Carrera and Rafel Bru, the founders of Stat-Dx, a company that was one of the great successes of Spanish biotechnology after its sale to Qiagen for more than $180 million (€160 million) in 2018.
Sofimac Innovation, through its Pertinence Invest 2 fund advised by Mérieux Equity Partners and Fond-ICOpyme, managed by Axis (ICO), has also participated in the current round of financing. DeepUll, based in the Barcelona Science Park (PCB), is developing a new diagnostic system for sepsis in very early stages. This disease, a disproportionate immune response to infection by a bacterium that ends up damaging the body itself, causes around eleven million deaths a year.
Find out more details about the latest financing rounds of Alfa Life Sciences and Origo Biopharma and read the latest financial news with our companion app, Born2Invest.
Alta Life Sciences has co-lead this round with the French company Kurma Partners
With this capital injection, the biotech company covers the financial needs to validate the technology and start the development of the first prototypes. The DeepUll proposal is based on quickly identifying the pathogens and providing the antibiogram in a few hours, on the one hand, and on using the data and learning about the patient’s immune and functional status, on the other.
The system allows physicians to predict the future occurrence and progression of sepsis in a short period of time and thus provide an appropriate clinical response even before symptoms arise. Jordi Carrera, CEO and co-founder of DeepUII, explained that “being able to close this initial round will give us the means to test the concepts of a new system for early diagnosis of sepsis.” For the executive, the support of this specialized investment union from Spain and Europe “will be fundamental for the company thanks to their knowledge and experience in the sector.”
Origo Biopharma also closed a $2.6 million (€2.3 million) financing round
The biotech company has closed a $2.6 million (€2.3 million) financing round provided by Sabadell Asabys, XesGalicia and the promoter partners. With this financial injection, the company covers the financial needs to complete pre-clinical development and start the first clinical trials with its drug for the treatment of patients with Crohn’s disease associated fibrosis.
In addition, the biotech company will be able to advance its programs in idiopathic pulmonary fibrosis and colorectal cancer. The first clinical trials are expected to begin in 2021. The company, based in the Parque Tecnológico de Galicia (Ourense), was founded in 2017 by GalChimia (led by its CEO and founder, Carme Pampín) and by Julio Castro, founder and CEO of Palobiofarma.
In 2019, the biotechnology company incorporated Ramon Bosser as its top executive and shareholder. Origo Biopharma is developing drugs to inhibit TGF-beta, a widely validated therapeutic target in the field of fibrosis and immuno oncology, with a novel technology that avoids the adverse effects associated with inhibiting this target and which have traditionally slowed down the development of this class of drugs.
In the five main European countries alone (Germany, United Kingdom, France, Italy and Spain) the cost of Crohn’s disease and idiopathic pulmonary fibrosis is more than $2 billion (€1.8 billion) per year. There is a great medical need in the treatment of fibrosis: there is no approved treatment for gastrointestinal fibrosis and 75% of patients with advanced Crohn’s disease need surgery due to fibrosis.
The drugs approved for the treatment of idiopathic pulmonary fibrosis have a very limited effect and the median survival of affected patients is between two and five years. In addition to its idiopathic form, lung tissue fibrosis is one of the sequelae of greatest concern to pulmonologists in patients who have suffered severe COVID-19 infection.
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.
Cosmos Price Forecast After ATOM Shoots Into Top 20
Cosmos price is recovering due to the general demand for altcoins. In fact, a closer look at CoinMarketCap shows that...
Post-COVID-19, Business Risk Assessments Look Different for Investors
When conducting a business risk assessment, investors dig deeply into a company’s inner workings to predict whether it will be...
Encomenda Invests €200,000 to Launch Telemedicine Startup Doctomatic
The fund led by Carlos Blanco and Oriol Juncosa has helped launch this new digital platform, called Doctomatic, for remote...
Burkina Faso: The European Investment Bank Strengthens its Partnership with CAPE
According to the Director-General of CAPE Burkina, the support of the EIB is one of the major factors that has...
The First Four Projects of the Civic Crowdfunding of Venice Were Launched
The first four civic crowdfunding projects in Venice were launched. The project "ONDEW - Let's face climate change together", is...
Cannabis2 weeks ago
Are Cannabis Social Clubs in Barcelona on the Verge of Closure
Featured2 weeks ago
Should You be Looking for Reasons to Sell the Stock Market
Africa2 weeks ago
Energy Efficiency: the Moroccan Ministry of Housing Gets up to Standards
Crypto2 weeks ago
Coinbase Pro Accidentally Relists the Troubled XRP