Leukos Biotech, the spin-out from the Josep Carreras Leukaemia Research Institute, gets a 3.5 million € round by Inveready
Leukos Biotech, a biotechnology company founded by the Josep Carreras Leukemia Research Institute and by Dr. Ruth M. Risueño will develop a novel class of drugs around a newly discovered therapeutic target that selectively destroys Leukemia Stem Cells.
- The principal Investigator Ruth M. Risueño will lead the development of a new class of drugs against Leukemia Stem Cells.
Inveready has invested in Leukos Biotech, a biotechnology company founded in October 2015, by the Josep Carreras Leukemia Research Institute and by Dr. Ruth M. Risueño. The International José Carreras Leukaemia Foundation has funded the early development of the company. Inveready, investor group, joined the project leading a round of funding of 3.5 million euros. Dr. Enrique Llaudet is also incorporated as partner and CEO.
Leukos has its headquarters in Barcelona and will develop a novel class of drugs around a newly discovered therapeutic target that selectively destroys Leukemia Stem Cells. This new discovery opens the door to a completely new therapeutic strategy to treat Cancer Recurrence.
The round will push a first candidate into clinical trials for Acute Myeloid Leukemia for patients defined as unfit, i.e., those that are 60 or over and that are not suitable for bone marrow transplant or aggressive chemotherapy. There is an unmet need for effective treatment options for these older individuals who make up 40% of all AML patients. Although bone marrow transplant can work on younger patients, there are no real alternatives for the growing unfit population. Leukos will also develop a pipeline of follow up candidates for Leukemia Stem Cells in other types of Cancers.
Dr. Ruth M. Risueño, who has extensive experience in new biological target discovery for Leukemia and is a world expert in Leukemia Stem Cells, made the original discovery of this new target.
Advisors to the transaction are Antares Consulting, Lexcrea, RatnerPrestia and Jimenez de Parga.
About the Josep Carreras Leukaemia Research Institute
The Josep Carreras Leukaemia Research Institute (IJC), was founded in 2010 in cooperation with the Catalan regional government with the aim of strengthening biomedical research and personalised medicine in the field of leukaemia and other haematological malignancies.
It is a unique centre which harnesses the work and rigour of top level basic and clinical researchers. It uses the most innovative technologies, cooperates in many multi-center projects and competes successfully in national and international calls.It is known for its large number of published articles in high impact journals..
The IJC has three independent scientific campuses working in coordination:
* The Clinic-UB Campus, located in the facilities at the School of Medicine of the University of Barcelona at the Hospital Clinic in Barcelona.
* The ICO-Germans Trias i Pujol Campus in Badalona, located adjacent to the Germans Trias i Pujol University Hospital, its Research Foundation and a Teaching Unit of the Medical School of the Universitat Autonoma de Barcelona (UAB).
* The Sant Pau Campus, located in the Sant Pau Hospital compound, together with another Teaching Unit of the Medical School of the UAB and the Sant Pau Biomedical Research Institute.
About Josep Carreras Leukaemia Foundation
On July 14th, 1988, Josep Carreras created the International Leukaemia Foundation as a proof of his deep gratitude to both science and society for the care and affection he received during his illness. Inspired by this feeling Mr. Carreras created and continues to be engaged in other leukaemia foundations in Seattle (USA), Geneva (Switzerland) and Munich (Germany).
The Josep Carreras Foundations around the world share a common goal: that leukaemia becomes one day a curable disease for all patients. They concentrate their efforts on scientific research, support to health care infrastructures, search for compatible donors for patients who need a transplant and do not have a suitable relative and social services for low income patients and their families (+info).
After more than 25 years funding research grants, promoting young researchers and trying to improve patient’s quality of life, in 2010, the Josep Carreras Foundation initiated a new project, jointly with the Government of the Generalitat: The Josep Carreras Leukaemia Research Institute, the first European research center focused exclusively on leukaemia and other onco-hematological diseases.
Inveready Technology Investment Group is a Spanish investment group focused on innovative, seed stage companies. With offices in Barcelona, Madrid and San Francisco, Inveready has over 90 M € under management through its six venture capital funds.
Since its founding in 2008, Inveready has invested in over 60 companies in IT-Telecom and Biotechnology including, Indisys (sold to Intel) and PasswordBank (sold to Symantec), Palo BioPharma, (clinical stage, development license agreement with Novartis-2015), Ability (clinical stage, cancer, with a development license with Sciclone-2016), Avizorex (Dry Eye), Oncostellae (cancer), InnoUp (oral delivery) Galgo Medical (medical software); ZIP Solutions (sold to Bionaturis, 2016).
About Antares Consulting
Antares Consulting is an international consultancy firm on strategy, management and technology in the fields of health, life sciences, and social and log-term care.
It has a complete and innovative portfolio for organizations: both public and private. Antares Consulting has worked with more than 644 customers in 24 different countries.