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New investors for Genmedica
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New investors for Genmedica

19.10.2012 - Spanish Genmedica Therapeutics S.L. has raised €12m in a series B financing round led by the British investor Asclepios Bioresearch.

Genmedica develops dual action, small molecules which act against both oxidative stress and inflammation (OSIF), two processes that are emerging as critical in the pathogenesis of a wide range of diseases. It’s lead compound GMC-252 has shown in multiple type 2 diabetes animal models to act as a potent anti-diabetic, lowering glucose and lipids. „The deal with Asclepios allows us to quickly advance our clinical plans with an experienced partner and start dosing patients this year. This will allow us to generate phase 1 safety data in 2013 and preliminary efficacy data in early 2014“, stated Alec Mian, CEO of Genmedica.

In 2011, the Barcelona-based start upo raised €3m in a series A round from local investors Caxia Capital, BcnEmpren, Unifondo-Uninvest and Venture Cap.

© eurobiotechnews.eu/bk

http://www.european-biotechnology-news.com/news/news/2012-04/new-investors-for-genmedica.html

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