On November 24, 2020 the Spanish start-up, specialized in developing a technology to transport drugs to the brain, reported the company is seeking up to three million euros to reach the clinical trial (Press release, Gate2Brain, NOV 24, 2020, View Source [SID1234641077]). The CEO of Gate2Brain, Meritxell Teixidó, explains to PlantaDoce that the company plans to open a financing round in April 2021.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
The start-up develops a technology to transport drugs to the brain . The company will use the funds to advance therapeutic tests since, although it has identified the drug to deliver to this organ according to the group of pediatric brain tumors, it must improve transport.
In this way, the company would increase the effectiveness of brain disease treatments with its technology, while reducing side effects. Teixidó assures that the objective is "to validate the platform and for a pharmaceutical company to look at it to acquire the company . "
Gate2Brain seeks to improve the effectiveness of brain disease treatments
The company is a spin off of the Barcelona Biomedical Research Institute, the University of Barcelona (UB) and the Sant Joan de Déu Research Institute of the Sant Joan de Déu Hospital (SJD). The company has its headquarters in the Barcelona Science Park.
Gate2Brain envisions its technology will allow drugmakers to recover promising drugs that don’t make it to market because they can’t be transported to the brain. The company’s CEO states that "98% of drug candidates are discarded because they do not pass the barrier and our technology would allow investment in these drugs not to be left in a corner." The company is in contact with some pharmaceutical companies .
The start-up plans to open a financing round of between two million euros and three million euros in April 2021 . Gate2Brain estimates to begin the clinical trial in 2023. The company has carried out some tests at the Sant Joan de Déu Hospital in Barcelona and has observed that its technology would have applicability in various tumors.
Gate2Brain has received funding from the Botín Foundation
Gate2Brain has received support from the Botín Foundation’s Mind The Gap Program, which invests up to half a million euros per project . The start-up obtained online research support from the CaixaImpulse program of the La Caixa Foundation and funding from the Agency for Management and University Research Grants (Agaur) in the Knowledge Industry Grants call.
The company currently has five workers. Gate2Brain, founded by Teixidó and three other entrepreneurs, has Marc Ramis, CEO of Ninevah Therapeutics, as an advisor. The founders control the majority of the company’s shareholders.