Find out about the latest investment rounds in the European biotech sector in 2018. In addition, we analyse the investment round of ABAC Therapeutics, which has received a capital injection of €16M.
Find out about the latest investment rounds in the European biotech sector in 2018. In addition, we analyse the investment round of ABAC Therapeutics, which has received a capital injection of €16M.
ABAC Therapeutics is a company specialising in the development of therapeutic solutions for patients infected with highly antibiotic-resistant bacterial pathogens, leaving them with few (or no) treatment options.
The company, based in Esplugues de Llobregat (Barcelona), uses its proprietary drug discovery platform PasNas to identify novel antibiotics to combat multi-resistant bacteria.
ABAC is currently developing an antibiotic against Acinetobacter baumannii, a deadly bacterium which, according to the World Health Organisation (WHO), is the main pathogenic threat for which there is no treatment. According to CEO Albert Palomer, the company has chosen this bacterium because of its high mortality rate: 50% of infected patients die.
ABAC Therapeutics, spin off of Ferrerwas founded in 2014 as part of its new open innovation strategy.
ABAC Therapeutics, dedicated to researching new pathogen-specific antibiotics, has closed a €16M funding round.
This capital injection was led by Pontifax, an Israeli fund that invests in healthcare companies; Global Health Science Fund (the Global Health Science Fund, created jointly by Quark Venture Inc. and GF Securities); Caixa Capital Risc; Debiopharm Innovation Fund and the pharmaceutical company Ferrer, which have joined ABAC's board of directors.
The funds raised will be used to successfully complete the phase I clinical trial of its drug Abac-39877, currently a pre-clinical candidate in the fight against Acinetobacter baumannii, and then seek a licensing agreement.
When it was founded as a spin-off from Ferrer, ABAC's capital was divided into 80% for the pharmaceutical company and 20% for Palomares and Gargallo. With the new partners, the capital is divided almost equally into five parts.
| PROGRAMME | GLOBAL LEHIAN 2018 |
|---|---|
| PUBLIC BODY | BASQUE GOVERNMENT - Department of Economic Development and Infrastructures. |
| BENEFICIARIES | Micro, small and medium-sized enterprises (SMEs), individually or in cooperation, located in the Autonomous Community of the Basque Country, and which have an internationalisation plan in force. |
| PURPOSE OF THE PROGRAMME | Support for the internationalisation of individual and cooperative SMEs. |
| CHARACTERISTICS OF THE AID | ELIGIBLE EXPENDITURE: INITIATION STAGE - Drawing up of the Internationalisation Plan (external advice may be contracted to carry out a diagnosis and/or to draw up an Internationalisation Plan), travel, visits to trade fairs and the preparation of agendas. In the case of cooperative projects, feasibility studies and incorporation costs are also financed. CONSOLIDATION STAGE - Prospecting trips, visits to trade fairs, reverse missions, invitations to potential clients, participation in trade fairs, promotional material, advertising, feasibility studies of implementation projects. IMPLANTATION STAGE - Incorporation costs, structure costs, travel costs between parent company and the implanted company, promotion costs. STAGE ACTIVATION OF TALENT AND ADAPTATION OF ORGANISATIONS TO THE GLOBAL MARKET - Recruitment costs for technical specialists or managers. TRAVEL BAGS: INITIATION STAGE - 7 travel bags per application. CONSOLIDATION STAGE - 5 travel bags per country, with a maximum of 3 countries per application. IMPLANTATION STAGE - 7 travel bags per application between parent and implanted company; countries other than the location of the parent company or the implanted company will not be accepted as origin or destination in this call. In the case of participation in trade fairs abroad with a stand and presentation of products, travel bags shall not count towards the above-mentioned maximums. INVITATIONS TO POTENTIAL FOREIGN CUSTOMERS AND/OR SUPPLIERS: In the consolidation phase the maximum number of invitations per request shall be 9, provided that they occur in different months. For each invitation, the limit for accommodation and transport costs referred to in Article 4 of the Order is 600,00€. COMPATIBLE with other aid. |
| TYPES OF AID | GRANT: The total limit of support per beneficiary per year is €50,000. LIMITS - INDIVIDUAL PROJECTS: Initiation stage - up to 40% - max €20,000. Consolidation phase - up to 40% - max €30,000. Implementation phase - up to 40% - max 40.000€. Talent activation stage - up to 50% - max €20,000. LIMITS - COOPERATION PROJECTS: Start-up and Consolidation Stage - Sales and Promotion Groups up to 50% with a maximum of €12,000 per company and €40,000 overall. Start-up and consolidation stage - Export Consortia at Origin up to 50% with a maximum of €14,000 per company and €40,000 overall. Talent Activation Stage - Export Consortia - 50% managerial recruitment costs up to a limit of €30,000. |
| DEADLINE | NEXT OPENING - 23 MARCH 2018 AT 12:00 NOON. For the elaboration of the Internationalisation Plan - 26 APRIL 2018 AT 12:00 NOON. |
| INFORMATION | +34 946 42 41 42 info@abra-invest.com |
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