Inbiomotion closes second round of funding, raising €2.2 millions
<p>Caixa Capital Risc led the investment alongside Ysios Capital and the Fundació Vila Casas</p>
Inbiomotion, a spin-off of IRB Barcelona and ICREA, closed its second round of funding, raising €2.2 millions mostly thanks to Caixa Capital Risc, which invested through its Caixa Innvierte BioMed II fund, and Ysios Capital, the leading Spanish investment firm in the technology sector, through their Ysios BioFund I fund.
Ysios Capital led the first round of funding Inbiomotion closed in 2012, also with participation from Fundació Vila Casas. The shareholders have once again invested in this second round, with some business angels joining them. Caixa Capital Risc, which began its support for this company before they closed this round, has conducted the operation through a fund promoted by “la Caixa” and the Center for the Development of Industrial Technology (CDTI).
The capital raised this time will go towards the second clinical trial on the biomarker developed by the company, Osteomet. This product, which has been validated in more than 1,300 patient samples, allows doctors to predict which cancer patients will develop bone metastasis using biopsies of their main tumors.
Osteomet is mainly geared towards two types of cancer: breast and prostate, which most commonly metastasize. In fact, 75% of all women with breast cancer and 90% of men with prostate cancer develop bone metastasis over the course of the disease, as published in a press release.
Inbiomotion, under scientific leader Roger Gomis of the IRBB Barcelona (founder), has set the milestone of completing clinical and regulatory phases within two years, making the product available to patients by 2018. The company believes the marker could help rationalize the use of metastasis therapies and define the prognosis for more personalized therapies.