November Picks: more funding for startups and scaleups
As the month draws to a close, we’re bringing up a topic of interest for the sector: the ecosystem’s impact on the environment and its responsibility for incorporating initiatives to reduce its carbon footprint. Let’s look at the top 10 news stories highlighting the quality of research and the business fabric in Catalonia.
- Several startups have secured private funding or received public funding this November: Peptomyc (€5 million), MiMARK Diagnostics (€4.2 million) —a company on the Invest BioRegion Portal—, Methinks AI (€2.5 million), Manina Medtech (€1.75 million)—participant in the 5th CRAASH Barcelona program and interviewed recently by BioEmprendedores—, Kamleon (€1 million), Vytrus Biotech (€575,000), StereoDive Medical (€200,000) and D-sight (€100,000), which recently received a 2023 EIT Health InnoStars Award. It is also worth noting the capital increase at scaleup Oryzon Genomics, through a program of convertible bonds that can be exchanged for up to €45 million in shares. Biocat will announce the total investment secured in 2023, as well as the most important indicators for the Catalan life sciences and healthcare ecosystem, in the 2023 BioRegion of Catalonia Report, which will be presented on February 12, 2024, in collaboration with ACCIÓ, CataloniaBio & HealthTech, Farmaindustria and Fenin. Get your tickets now!
- Looking to specialized investment funds in the BioRegion of Catalonia, the biotech firm Knynexis, co-founded by Ysios Capital, has secured €57 million. With Forbion, the fund participated in the series A round of funding for this Dutch startup they co-founded, which focuses on schizophrenia.
- In November, we also learned that Catalan consultancy firm Grow VP will manage FITA, the technology transfer fund for which the Government of Catalonia has earmarked €55 million to invest in and boost spinoffs from Catalan universities.
- In research, the University of Barcelona (UB) has licensed an innovative technology to IMIDomics Inc., a patient-focused drug discovery firm, to advance research to better understand and treat IMID disorders.
- Other news showcasing the international competitiveness of hospitals in Catalonia featured Hospital de la Santa Creu i Sant Pau, which completed the world’s first full abdominal reconstruction.
- This hospital will be one of the six where participants in the upcoming edition of d·Health Barcelona Part Time will do their clinical immersions. If you have an innovative idea you’re excited about, apply to join the second edition of the Biocat talent development program in health innovation. Applications now being accepted!
- In this section, we also have to look at M&A activity, led this month by Palex, which has acquired Burke&Burke, an Italian medical equipment distributor, and Uriach, which has sold off 30% of its capital to British fund ICG for €250 million. The Catalan company will use the money to acquire French laboratories Ineldea and become a European benchmark in the nutraceuticals sector.
- Turning to investment in assets, Azbil Telstar announced it is investing €2 million to expand its headquarters in Terrassa.
- In pharma, Grifols announced it has been granted FDA approval to expand the purification capacity of its plant in Clayton. The company also announced it will build a new plant in Canada to increase manufacturing. Additionally, Almirall has been granted approval from the European Medicines Agency (EMA) to sell its drug for atopic dermatitis and expects sales to hit €400 million.
- And we can’t sign off without encouraging you to check out and browse all the new sections and content we’ve created for the new Biocat website, which we’re launching to help boost the national and international positioning of the BioRegion of Catalonia.