On November 15, 2021 Gate2Brain reported the company seeks capital to advance its first therapy (Press release, Gate2Brain, NOV 15, 2021, View Source [SID1234641091]). The Spanish biotechnology company has opened a bridge financing round of one million euros to carry out the "key trials" of its cancer therapy, which are prior to the clinical phase.
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In 2022, the company plans to open another round of five million more euros , with which all regulatory and non-regulatory preclinical trials will be carried out, according to Meritxell Teixidó, CEO of the company, to PlantaDoce. Gate2Brain expects the human clinical trial to take place in 2024.
The Spanish biotechnology company develops a patented technology based on peptides with the aim of improving the effectiveness of therapies against childhood tumors. The most important characteristic of the start-up is that it is focused on overcoming the physiological obstacles inherent to the human body , such as the blood-brain barrier.
Gate2Brain plans that its technology will allow pharmaceutical companies to recover drugs that do not end up reaching the market
The first therapy of its technological platform, named G2B-002, is aimed at the treatment of rare pediatric solid tumors . This treatment "acts as a shuttle and facilitates the arrival of the drug to the tumor areas," explains Teixidó. The company’s approach combines expertise in oncology, rare diseases and pediatrics.
The Barcelona start-up also plans that its technology will allow pharmaceutical companies to recover medications that do not end up reaching the market due to the impossibility of reaching the brain. In this sense, the company’s CEO states that "98% of drug candidates are discarded because they do not pass the blood-brain barrier." The company is in contact with some pharmaceutical companies.
At the beginning of the year, Gate2Brain was looking for up to three million euros to reach the clinical trial and planned to open a financing round. The objective of this round was already to find the capital necessary to reach the clinical trial, although the company’s plans have been adapted to the new planning, which increases the economic volume, but lengthens the deadlines and divides the round into two stages .
The founders control the majority of the company’s shareholders
Gate2Brain has received support from the Mind The Gap Program, from the Botín Foundation, which has invested half a million euros in the project. The start-up also obtained support from the CaixaImpulse program, from the La Caixa Foundation, funding from the Agency for Management and University Research Grants (Agaur) and from Banc Sabadell. In total, the company has raised 600,000 euros so far .
The founders control the majority of the company’s shareholders. Gate2Brain has been created by researchers from IRB Barcelona, the University of Barcelona and the Sant Joan de Déu Research Institute. The company has its headquarters in the Barcelona Science Park .