Palobiofarma, a company located in the TecnoCampus, has closed an investment round of seven million euros led by Inveready, through Inveready Biotech IV, the public company Sodena and the company's promoter team.

The investment will be used to complete three phase II clinical trials in which the effectiveness of its most advanced assets is studied, PBF-680 in patients with chronic obstructive pulmonary disease, PBF-999 in patients with Prader Willi syndrome and PBF -1129 in non-small cell lung cancer patients, who have achieved excellent results so far. 

Additionally, through this operation, the Fitalent fund, of the company NTT Data, leaves the company's shareholding. To this new round of financing, which could be completed with an additional 5 million euros from the acceleration fund managed by the European Innovation Council (EIC Accelerator), together with other lines of public financing, the same participants who they materialized in the initial stages of the company. Thanks to the continued support of Inveready and Sodena, Palobiofarma has become the "start up" with more clinical developments in Spain, financed basically through license agreements such as the one the company signed in 2015 with the Swiss multinational Novartis, which also served to distribute significant dividends to shareholders. 

With this new injection of resources, the company expects to reach new licensing agreements with its assets in more advanced stages of development, once their clinical efficacy has been demonstrated.


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