Published in the newspaper LA VANGUARDIA 15-12- 2015.
Oncomatryx raises capital to complete the preclinical phase of drugs against tumor stroma
- The Basque company Oncomatryx has completed a capital expansion round of 4.5 million euros with the aim of completing the preclinical trials of the «pioneer» molecule called OMTX, which it has developed against the tumor stroma, the «microenvironment that surrounds the tumor and favors its expansion and metastasis.».
BILBAO, 15 (EUROPA PRESS)
The Basque company Oncomatryx has completed a capital expansion round of 4.5 million euros with the aim of completing the preclinical trials of the «pioneer» molecule called OMTX, which it has developed against the tumor stroma, the «microenvironment that surrounds the tumor and favors its expansion and metastasis.».
After six years of research and development, and more than eight million euros in investment, OMTX has shown in animal models «greater efficacy» against pancreatic cancer and invasive lung cancer, «than current medications».
According to a statement from the company, this is a «major scientific breakthrough» that now has the necessary economic backing to complete the preclinical phase and prepare for Phase I Clinical Trial, in which OMTX will be tested in sick people.
The capital increase was subscribed by private and institutional investors, among which stands out Gestión de Capital Riesgo del País Vasco, SGEIC S.A. In the operation, Norgestión S.A. and Altium Capital S.A. participated as financial advisors, and CMC Consulting Spain S.L. as technical advisors.
ONCOMATRYX
Oncomatryx's pioneering work focuses on the development of personalized biopharmaceutical drugs against the tumor stroma, «to treat the invasive stages of cancer, which still have a high mortality rate.».
The company, located in the Vizcaya Technology Park, has discovered new mechanisms and proteins in the peritumoral stroma, the cells and extracellular matrix that surround the tumor and facilitate its invasiveness, resistance to treatment, and metastasis.
Oncomatryx has addressed the development of pioneering drugs against these mechanisms and peritumoral stromal proteins in collaboration with prestigious universities, hospitals and research centers in the USA and Europe, such as the MD Anderson Cancer Center, National Jewish Health, University of Stuttgart, University of Turin, University of Bologna, CIC-Biogune, National Center for Oncological Research, Virgen del Rocío Hospital and Hospital Universitario Marqués de Valdecilla.