Source: Alta Life Sciences
Peptomyc S.L, a Barcelona-based biotech company developing new peptide therapeutics for the treatment of cancer patients, announces the closure of a Series A financing of 4.2 million euros. The investment round was led by Alta Life Sciences, a venture capital investment firm located in Barcelona, and includes current investors Healthequity and Business Angels, that had already participated in the seed round of 2016. RCD, a leading legal firm in the biotech sector, has advised on the transaction.
This investment provides Peptomyc with the capital necessary to significantly advance the industrial CMC manufacturing of its peptides and their validation in safety and efficacy non-clinical regulatory studies, bringing them substantially closer to clinical application. Laura Soucek, co-founder and CEO of the company, said that “This is a very important and exciting step in the development of our products. It is also a great opportunity to welcome to our team amazing experts in the development and commercialization of products in all areas of life sciences and across both sides of the Atlantic”.
"We are very pleased to be part of this outstanding project," said Montserrat Vendrell, partner at Alta Life Sciences, who will be representing the firm in the board. "Peptomyc is our first investment and a great example of the science and entrepreneurs we have in this country. We will be working hard from the board, together with Healthequity, to bring Peptomyc's products closer to the patient"
Cancer incidence has reached more than 14 million new cases per year, leading to more than 8 million annual deaths. Current therapies too often fail due to lack of efficacy or emergence of resistance to treatment, and come at the cost of severe side effects that considerably affect patient quality of life. Peptomyc S.L. aims at treating cancer patients with a new class of peptide therapeutics targeting the Myc oncogene, a central function in cancer cell survival, but not normal cells. Myc is implicated in most types of tumours, making Peptomyc’s products potentially applicable to all cancers. Learn more at: www.peptomyc.com
About Alta Life Sciences:
Alta Life Sciences is a new leading venture capital investment firm headquartered in Barcelona. Alta LS invests in companies at all stages of development: from seed financing through commercial growth, and in all areas of life sciences including biotechnology, medical devices, diagnostics, genomics and digital health. Learn more at: www.altals.com
Altamar Private Equity SGIIC, a leading independent firm in the management of international Private Equity and other alternative assets, is Alta Life Science's management company.