Neurotec Pharma Raises €3.3M in Equity Funding
Published On February 19, 2011 |
Neurotec Pharma SL, a Barcelona, Spain-based R&D company that develops diagnostic tools and treatments for acute and chronic Central Nervous System diseases, has raised €3.3m in equity funding.
Investors include Inveready and Caja Navarra, which acquired a 34% stake in the company. Majority shareholders remain funders of the company, its manangement team formed by Marco Pugliese, Dr. Nicole Ma-hy and Dr. Manuel Rodríguez Allúe, of the hospital Clinic de Barcelona, and some angel investors, who partecipated in the previous round of financing.
The company intends to use the funds to conduct clinical trials of an oral therapeutic application for treating Multiple Sclerosis (MS) and Amyotrophic Lateral Sclerosis (ALS).
The drug under development is designed to inhibit or stimulate microglial activity obtaining neuroprotective or anti-inflammatory effects. It is effective at very low doses and are extremely safe and without side effects.
Founded in 2006 as a spin-off of the University of Barcelona (UB), Neurotec Pharma is based in the Parc Científic de Barcelona.