la Caixa's investment in Inbiomotion
La Caixa through Caixa Innvierte BioMed IIhas led a €2.2M round in Inbiomotion, a spin-off of the Barcelona Biomedical Research Institute that develops diagnostic tests to predict the risk of cancer patients suffering from bone metastasis.
Also participating in the round were Ysios Capitalthe leading Spanish investment manager in the biotechnology sector, through its Ysios BioFund I, and the Vila Casas Foundation, which were already shareholders of the company.
This round will complete the clinical validation and make Inbiomotion's first product available to patients.
Inbiomotion's product, Osteomet, has already been validated in more than 1,300 patient samples from independent, multi-country cohorts and the company's primary goal is to complete its clinical and regulatory development within the next 2 years.
La Caixa is committed to biotechnology and creates Caixa Innvierte Start.
It is also in the news that last December the Caixa registered a new fund for technology SMEs with the CNMV, mainly for companies in the health and biotechnology sectors, although other sectors are not ruled out.
La Caixa will focus on Spanish start-ups (although it does not rule out the "exceptional" possibility of making purchases in other geographies as long as they do not consume 20% of the total resources raised by the fund) and with an outstanding potential for innovation and growth.
These general guidelines are quite favourable for the new fund to receive the injection of the government's fund of funds articulated through the ICO, Fond-ICO Global -whose sixth call remains open until 29 March. In fact, in the management regulations that Caixa Innvierte Start has submitted to the CNMV, there is a specific article (article 17) that regulates the intervention of public participants.
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