SOM Biotech has just closed a financing round of 7 million euros led by a holding company belonging to a European family with a long tradition in the pharmaceutical sector which will give the opportunity to get a facilitated access to pharma network. Several of the current partners of SOM Biotech have also taken the opportunity to participate in this round.
The company will allocate this capital injection to complete the presently-running Phase 2a proof-of-concept trial of an innovative treatment for the chorea movements associated with Huntington’s disease: compound SOM3355, the second product of the company that has arrived to clinical phase.
At the same time, with the resources obtained in this new round of financing, SOM Biotech wants to give a strong boost to its expansion, strengthen its licensing and co-development activities and build up the international presence necessary to become a world leader in the field of repurposing drugs for orphan diseases mainly in the Central Nervous System space.
Press Release English
Press Release Spanish
Press Release Catalan