The Catalan biotech company Minoryx Therapeutics has raised 51 million euros in the form of debt and capital to obtain the necessary resources and financing with which to bring its star drug to market, which allows treating adrenomyeloneuropathy. This rare, minority and neurodegenerative disease does not have any treatment on the market and Minoryx has leriglitazone, a phase 3 drug, in the final stretch for approval in both Europe and the United States.
The company assures that both the talks with the European Medicines Agency and the United States Food and Drug Administration (FDA) are on the right track. In the first case, it is planned to send the formal application this summer, so that, in principle, approval could arrive around the summer of 2023. Once it is achieved, the company will undertake its licensing strategy with pharmaceutical companies to find the best allies with which to reach the market. For the United States, the procedures will take longer, perhaps an additional one to two years to apply.
But both the company and the investors are clear that the investigation and the results obtained so far by Minoryx are conclusive enough to move forward. The new injection of funds, which raises the resources raised so far from the beginning to 110 million, has the participation of Columbus Venture Partners and Caixa Capital Risc, CDTI Invierte, Fund and Ysios Capital.
Minoryx, founded in 2011 and with headquarters in Mataró and a small subsidiary in Belgium, thus receives an almost definitive accolade for the work of many years. Now, if there are no setbacks that no one expects, success in your goal of completing the path to commercialization is practically assured. Two years ago, the company already licensed its drug for the Chinese market for 66 million euros. Now, all the formulas are open.
"We are already working on what will be the commercial launch and we are talking with different companies that could manufacture and sell it..., without ruling out the option of doing it ourselves," explains Marc Martinell, founder, shareholder and CEO of the firm. biotechnological Mynoryx has 25 workers on staff and around 50 more indirect collaborators.
