Proretina Therapeutics SL, a Noáin, Spain-based biotech company that develops therapeutics to treat retinal disorders, has closed a €380.000 equity financing.
Investors include Corporación CAN, Sodena, Real de Vellón (fund managed by Clave Mayor) and Inveready, each of which committed €95K.
The financing is subject to completion of the company’s project. Proretina is currently studying the use ot Proinsulin to treat Retinitis Pigmentosa, a degnerative disease of genetic origins, which produces blindness in the adult age.
The first compound is in an advanced preclinical stage and the company plans to commence the pharmacological development during 2011.
Proretina is based in CEIN (Centro Europeo de Empresas e Innovación de Navarra) and operates a specialized laboratory in Madrid: It currently employs 7 people and intends to add other 3 professionals in the next year.