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.
Inbiomotion’s product addresses a significant companion diagnostics market globally.
Inbiomotion SL, a spin off founded by IRB Barcelona's group leader, Roger Gomis, today announced that Alta Life Sciences has led its significantly oversubscribed investment round. 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 Institute for Research in Biomedicine (IRB Barcelona) and ICREA institutions.
Inbiomotion's unique diagnostic assay is based on a highly selective single gene predictive biomarker. Data generated thus far demonstrates 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. It can further predict at an early stage a patient's risk of metastasic 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, which will 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”.
Professor Roger R. Gomis, founder of Inbiomotion and a renowned researcher in metastasis, said: “We are delighted to have the support of Alta LS. This funding is a qualitative and quantitative leap forward that will allow us to complete regulatory and commercial development validation and placing 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, poised to commercialize a new personalized treatment option to save patients’ lives next year”.