Bionure hopes to raise €1 million to test multiple sclerosis drug in patients
<p>The biotech firm has opened a crowdequity round of funding on the Capital Cell platform and has created a campaign on social media</p>
Bionure, a biotechnology firm founded in 2009 as a spin-off of Hospital Clinic – IDIBAPS and the CSIC, has opened a crowdequity round of funding on the Capital Cell platform in the hopes of raising nearly €1 million to advance development of a candidate that acts to protect and regenerate myelin and could curb the progress of multiple sclerosis, a neurodegenerative disease with no cure that affects 47,000 Spaniards.
After six years of research on this drug (called BN201), the capital the firm hopes to raise would allow them to complete preclinical development and fund its first tests in humans (Phase I clinical trials). In addition to the crowdequity fund on Capital Cell, where individuals can invest in exchange for a share in the company, Bionure has also launched the #estamosaesto social media campaign.
As the Capital Cell platform explains, Bionure’s BN201 is one of only two compounds in the advanced stages development that have shown positive results in regenerating the myelin layer, which is a membrane that insulates each nerve in the brain and the spinal cord to ensure nerve messages are conveyed properly from one part of the body to another. In patients with multiple sclerosis, myelin gradually breaks down, stopping nerves from working properly and leading to difficulties with motor, sensory and linguistic skills, among others.
The drug being developed by Bionure has the ability to protect neurons and regenerate myelin using a new mechanism of action (first in class). Initially, the drug will be used to treat patients with Acute Optic Neuritis (AON), which is normally the first sign of the disease and causes vision loss and eye pain. Bionure has had AON classified as an orphan disease, which cuts down on the legal red tape and could give them an extra 5 years on the patent.
On 20 January, Bionure will officially present the #estamosaesto and crowdequity campaigns in an event at the AXA auditorium at l’Illa Diagonal, with company CEO Albert Zamora and President of the GAEM Foundation Vicens Oliver.