Iproteos, a Barcelona, Spain-based biotech company, closed €1.5m in funding.
The round was led by Caixa Capital Risc with participation of Kinled Holding, a Hong Kong based investment company with offices in London, New York and
Zurich, and biotech company ASCIL Biopharm.
The company intends to use the funds to complete the preclinical phase in order to start Human Phase I trials of its compound for the treatment of Cognitive Impairment Associated with Schizophrenia.
Settled at the Parc Cientific de Barcelona, is A spin-off created in 2011 by Teresa Tarragó and Ernest Giralt, two Catalan scientists in the field of therapeutic peptides, based on the technology transfer from IRB Barcelona and the University of Barcelona Biotech, Iproteos is advancing a first-in-class drug for the treatment of Cognitive Impairment Associated with Schizophrenia (CIAS) using its proprietary platform IPROTech,
The company plans to conduct regulatory preclinical phases of its drug and then carry out clinical trials in humans.