Iproteos has launched its second equity crowdfunding campaign to raise 250,000 euros through the Capital Cell platform in order to complete the preclinical regulatory phase with their compound IPR19, one of the few drugs being developed around the world to stop and reverse the cognitive deficits of schizophrenia (CIAS). The first round, launched in June 2014, was the first in the Spanish biotechnology sector.
This equity crowdfunding campaign will round off a 1.5-million-euro capital increase, one million euros of which has come from a specialised venture capital fund and 250,000 from Enisa.
As the company’s CEO Dr Teresa Tarragó explains, “This means we can perform safety tests on the drug so we can get authorisation from the European Medicines Agency to do trials in patients in 2017.” Afterwards, they hope to license the innovative drug to a multinational pharmaceutical corporation by 2021, once it has been proven effective in humans.
In the medical arena, finding new, more effective treatments for schizophrenia is quite a challenge as it is a chronic, debilitating mental disease that begins to develop in patients between 15 and 35 years old. There are an estimated 45 million people in the world with schizophrenia, between 75% and 80% of which are affected by CIAS. The symptoms of this condition are mainly attention problems, memory loss, verbal and visual learning problems, impaired reasoning and problem-solving functions, among others.
This project has an estimated ROI of 651% over 5-6 years. Biotechnology has been the highest performing industry in Spain since 2008 and Catalonia is firmly committed to this sector. More detailed information is available on the Capital Cell website.
Presentation of the Iproteos crowdfunding campaign: investment in science
Date: June 7, 2016
Time: 6:30 pm
Venue: Barcelona Science Park · Edifici Clúster I · Aula Fèlix Serratosa · C/ Baldiri Reixac, 4-8
Sign up here (free)