Barcelona-based VC fund manager Inverady has backed a homegrown biotech firm in a new funding round, along with existing investors. Here’s what they are up to!
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Barcelona-based Nanoligent, a biotechnology company specialised in the development of targeted nanodrugs for cancer treatment, has secured €12M in a new funding round.
The round was led by Inveready, through its Inveready Biotech IV fund, with additional participation from CDTI (via the Innvierte program), Clave Capital, through its Clave Innohealth fund.
Inveready is a Barcelona-based financial services firm offering alternative assets, wealth management and traditional investment funds.
The VC fund manager is one of the most active investment firms in the small and medium-sized companies segment in Spain, currently managing more than €2.1B.
“We strongly believe in the potential of Nanoligent’s nanodrugs to overcome the limitations of conventional cytotoxic conjugate therapies. Their low molecular weight, high cellular internalisation capacity, and strong selectivity for the therapeutic target provide advantages. We are pleased to lead this round alongside a strong syndicate of specialised national and international investors,” says Antonio Herce, Director at Inveready.
Current investors, including i&i Biotech Fund I, Italian Angels for Growth, and Avanteca, also participated.
The capital will allow the Spanish firm to complete its regulatory preclinical development of its lead compound – NNL1524, and advance into the clinical trial with a Phase Ia study in patients with solid tumours.
The funding will also support the scaling up of manufacturing and the optimisation of production processes.
Nanoligent: Advancing the development of cancer nanodrug
Nanoligent was founded in 2017 by Manuel Rodríguez Mariscal as a spin-off of the Universitat Autònoma de Barcelona (UAB) and the Institut de Recerca at Hospital de la Santa Creu i Sant Pau.
The company uses advanced protein engineering and nanobiotechnology to create highly selective multivalent cytotoxic nanoparticles that specifically target tumour markers.
This method aims to fix the main issues with current Antibody-Drug Conjugates, focusing on better selectivity and less overall toxicity.
The main drug being developed — NNL1524, focuses on CXCR4, a receptor involved in tumour growth and spread.
According to the company, this receptor is often found in higher amounts in certain blood cancers and solid tumours like colorectal cancer, lung cancer, and breast cancer.
In tests on animals, NNL1524 showed strong results, causing significant tumour shrinkage as a single treatment and showing a good safety profile. These findings highlight its potential as a new treatment for serious medical needs.
Montserrat Cano, CEO of Nanoligent, comments, “This is a very important moment for Nanoligent. We feel deeply grateful for the significant recognition it represents, both at the national level with the incorporation of the new investors and through the continued trust of our international investors. Their knowledge of the sector will be of great value in achieving the company’s upcoming milestones. Our team is fully prepared and committed to enthusiastically embracing the challenges of this new stage and to bringing our technology to where it truly matters: the patients who need it.”
