SOM Biotech closed €2M funding round on January 2017 where 18 international investors from 10 different countries participated such as Monaco, Poland, UK, USA, India and South Korea among others.
Most of the super-business angels involved include former pharmaceutical executives, which shows trust in SOM’s business model and its future vision.
Additionally, SOM Biotech opened a €10M Series A round during JP Morgan Healthcare Conference in San Francisco on January 2017.
These funds will allow SOM Biotech to increase its presence in the USA market, foster the license-out of its assets and co-development efforts with other pharmaceutical companies in the sector. Moreover, the funds will be allocated to the completion of 2 Phase 2a clinical trials for SOM3355 to treat Huntington’s disease and SOM1201 for the treatment of Adrenoleucodystrophy.
Since SOM Biotech was established at the end of 2009 more than €5.3M from public and private sector has been raised.
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