Cebiotex closes €1.8-millions second round of funding
<p>Thanks to the participation of social impact investors, the company can continue to focus their therapies on pediatrics</p>
Cebiotex, a spin-off of Hospital Sant Joan de Déu and the Polytechnic University of Catalonia located in the Barcelona Science Park, has closed a €1.8-millions round of funding that will allow the company to finish the regulatory phase with their post-surgical oncology treatment for soft-tissue sarcoma, a rare “intermediate” cancer that affects both adults and children.
This capital increase was organized through a round of impact investment featuring Ship2B Foundation, Inveready and family offices, as well as other investors through two crowdequity campaigns with Capital Cell (for a total of €600,000). This was complemented with public funds through the CDTI and ENISA NEOTEC program and the SME Instrument.
“Both the crowdequity campaigns and the participation of social impact investors have allowed us to keep pediatrics the strategic focus of the company,” explains Cebiotex CEO Joan Bertran.
How will the capital be invested?
The biotech firm will use the funds raised to finish the preclinical phase of the first therapeutic indication (CEB-01) it has developed from its technology platform. This is based on a biomedical application of nanofibers for targeted drug delivery, allowing surgeons to cover the surgical site with a high concentration of drugs that act directly on the affected area after removing the tumor.
At the same time, the company hopes to take advantage of some of the capital raised to set up a pilot production plant with GMP certification (Good Manufacturing Practice) to manufacture CEB-01 and any other future drug candidates developed using their technology platform.
More information is available in the press release.