Inbiomotion raises an oversubscribed financing round to launch its diagnostic product in breast cancer
- The financing round is led by Alta Life Sciences Spain I FCR, a vehicle managed by Altamar Private Equity SGIIC. Existing investors including Institut Català de Finances (ICF) have also participated in the financing.
- Inbiomotion is in advanced stage of development of a single gene-based test for predicting response to bisphosphonates in breast cancer adjuvant setting and prevent metastasis.
- The capital increase is intended to complete regulatory development to commercialize next year.
- Addressing a significant companion diagnostics market globally.
Barcelona January 21, 2021.- Inbiomotion SL today announced that Alta Life Sciences has led a significantly oversubscribed investment round in the company. Alta Life Sciences Spain I FCR is a leading venture capital fund managed by Altamar Private Equity SGIIC.
Inbiomotion is focused on providing a unique companion diagnostic solution addressing an urgent and unmet medical need in the personalized adjuvant treatment of early-stage breast cancer patients. Founded in 2010 by Prof. Roger Gomis, it is a spin-off of IRB Barcelona and ICREA research institutions.
Inbiomotion’s unique diagnostic assay is based on a highly selective single gene predictive biomarker. Data generated thus far points that such biomarker (MAF test) can identify early-stage breast cancer patients that will benefit from bisphosphonate adjuvant treatment improving their overall and disease-free survival from those that will not benefit or can be harmed. It can further predict at an early stage a patient’s risk of metastases relapse from primary tumors.
Joël Jean-Mairet, Chairman of Inbiomotion and Managing Partner at Ysios Capital, said “We are very excited with this highly oversubscribed financing round especially considering it will enable us unfold the full potential of our work and impact over 700,000 early-stage breast cancer patients diagnosed every year. Improving their treatment options through a unique personalized medicine is our driving force to serve this unmet medical need”.
Professor Roger R. Gomis, founder of Inbiomotion and a renowned researcher in metastasis, said: “We are delighted to have the support of Atla LS. This funding is a qualitative and quantitative leap forward for us that will allow us to complete regulatory and commercial development validation and put MAF test within the reach of patients”.
José Antonio Mesa, Partner at Alta Life Sciences, and joining the Board of Inbiomotion said: “Alta looks to invest in potential world class opportunities by backing great teams and ground-breaking science in areas of major unmet medical need. Metastasis prevention remains an enormous challenge and the cause of over 90% of all cancer deaths worldwide. Inbiomotion is in a unique position on track to commercialize next year a new personalized treatment option to save patients’ lives”.
Inbiomotion SL, a company founded by Prof Dr Roger Gomis, is developing a unique single gene-based biomarker for the personalized adjuvant treatment of early-stage breast cancer patients. The biomarker has been technically and analytically validated. The results of two major studies using archived specimens of the AZURE and NSABP B34 registrational clinical trials indicate its potential use as a companion diagnostic with a clear clinical utility. Inbiomotion holds over 180 patents and patent applications covering its proprietary MAF test and the use of bisphosphonates in the adjuvant treatment of early-stage breast cancer patients. www.inbiomotion.com
Cristina Aguilar. Press and media relations.