- The Spanish Government is contributing 24.3 million euros through the Ministry of Science, Innovation, and Universities, reinforcing its commitment to technological innovation for health.
- Kutxa Fundazioa leads the Basque investment with 15 million euros, alongside a 10.5 million euro contribution from the Basque Government and Ekarpen and 2 million euros from BBK, bringing the total Basque institutional commitment to 27.5 million euros.
- The initiative will bolster the development of new cancer therapies and advance the launch of a Fill & Finish manufacturing plant specializing in high-potency drugs.
The Basque biotech company ONCOMATRYX BIOPHARMA, S.A. has successfully completed a capital increase of approximately 58 million euros with the ultimate goal of evolving from a biotech company into an integrated biopharmaceutical company, strengthening both its clinical development and its industrial capabilities.
The operation is backed by the Ministry of Science, Innovation, and Universities through the public venture capital firm Innvierte, as well as Kutxa Fundazioa, the Basque Government, Ekarpen, BBK, and other long-standing national and international private investors in the company.
Among the strategic initiatives planned is the development of a Fill & Finish manufacturing plant specializing in high-potency oncology drugs in Gipuzkoa, an infrastructure that will help reinforce European industrial capacity in the manufacture of advanced biologics and strengthen the pharmaceutical sector’s technological autonomy.
The Ministry of Science, Innovation, and Universities, through the public venture capital firm INNVIERTE of the CDTI, the State Agency for Innovation, will contribute 24.3 million euros from its co-investment line for strategic companies. This operation is part of the Spanish Government’s commitment to specifically promote technological innovation in the fields of health and th , whose impact adds value and improves citizens’ quality of life.
For its part, Kutxa Fundazioa will allocate 15 million euros of the total 58-million-euro funding round launched by Oncomatryx, significantly increasing its stake in the company from 1.7% to 7.4%. With this decision, the organization reaffirms its strategic mission to contribute to social well-being by promoting business development and industrial impact in Gipuzkoa.
The Basque Government, in collaboration with Ekarpen, will contribute 10.4 million euros to this new round of financing, which, in the words of the Minister of Industry, Energy Transition, and Sustainability, Mikel Jauregi, “will allow us to maintain our equity stake in the company at 17.96%. “With this operation, our institutions are reinforcing our commitment to the development of a highly specialized biotechnology sector, considered strategic for the competitiveness and diversification of the Basque industrial fabric.”
Furthermore, he stated, “this investment helps consolidate a hub of innovation in biosciences and advanced technologies in Gipuzkoa, driving high-value-added scientific and technological capabilities and promoting the new skilled jobs our children aspire to.”
The Minister of Science, Innovation, and Universities, Diana Morant, stated that “this transaction is an example of the public-private partnership model promoted by the Government of Spain to strengthen our science and innovation system. Investing in Oncomatryx means investing in more advanced cancer therapies, in industrial capacity in biomedicine, and in positioning our country at the forefront of biotechnology in the service of public health and quality of life.”
Scientific, economic, and social impact
For Laureano Simón, founder of Oncomatryx, “this capital increase is much more than just a financial transaction. It confirms that Oncomatryx is ready to make the leap from a research company to an integrated biopharmaceutical firm. The support of institutional and private investors who have been backing this project for years allows us to move forward with building our own industrial infrastructure, which will strengthen Europe’s capacity to manufacture the oncology drugs of the future.”
Oncomatryx approaches cancer from a perspective different from the traditional one, targeting the tumor microenvironment, a key factor in tumor growth and resistance. This pioneering approach opens new therapeutic avenues to improve treatment efficacy.
In fact, its drug, OMTX705, is currently in Phase 1B-2A clinical trials in humans, following the completion of a Phase 1 trial in which 100 patients were treated at leading hospitals in Spain and the United States, yielding promising results and generating high expectations in both clinical and scientific circles.
Oncomatryx maintains international licensing agreements with Asian biotechnology companies that validate its technology platform globally, and has been recognized by the European Union as a strategic project through the EIC Accelerator program, which has supported its development with 12.5 million euros.
This scientific positioning places Oncomatryx in a unique position within the development of new cancer therapies.
The investment will also position the Basque Country as a major hub in the field of advanced oncology therapies, generating skilled jobs and attracting high-value-added industrial activity.