Catalan biotech company Oryzon could go public on the MAB in 2012
They have just closed a deal to market a tumor marker for early detection of endometrial cancer with pharmaceutical company Reig-Jofré.
BY BIOCAT
After signing the deal to market their first product with Catalan pharmaceutical company Reig-Jofré, Oryzon announced the possibility of going public on the Alternative Stock Market (MAB) in 2012. If this happens, they would be the second Catalan biotech company to be traded publicly (the first was AB-Biotics, which increased turnover 74% in 2010 for a total of €3.58 millions). The product they have developed is a tumor marker for early detection of endometrial cancer.
Oryzon and Reig-Jofré have carried out joint research projects to develop oncology markers and therapies based on genetic analysis of tumor tissue since 2009, through the company Geadic Biotec.
Reig-Jofré is widely experienced in developing products and preparing regulatory files for license applications on a worldwide basis, particularly in Europe and the United States. This way, both companies aim to overcome the hurdles in the regulatory process for this new product and move into international markets, with the idea of later licensing the product to a multinational company.
Oryzon closed 2010 with sales totaling €7 millions, including research services for pharmaceutical companies and several public and private subsidies. The company’s capital is controlled by its founding partners (33%) and venture capital firm Najeti (32%). The company currently has 60 scientists on staff.