by Gemma Escarré,
FreeOx Biotech, a spin-out of Hospital Clinic Barcelona-IDIBAPS created in 2017 that is developing a new class of neuroprotective drugs, has closed its first round of funding with €500,000 from private investors Montserrat Esteve and Francisco Javier Alsina.
The biotech member of CataloniaBio & HealthTech has two highly promising molecules in its pipeline to treat stroke and other diseases of the central nervous system (CNS): Ox-01 and Ox-02.
With this funding, they will carry out formulation and preclinical trials with in vivo testing on Ox-02. Also, “it will allow us to prepare to start phase III clinical trials on Ox-01, a drug candidate that has already proven to increase the number of patients with no side effects after a stroke,” explains Carlos Lurigados, co-founder and CEO of FreeOx Biotech. “We’re looking for investors and/or licensors to complete clinical development and authorisation to commercialise the product on the main markets in the world.”
Photo: From left to right, Carlos Lurigados and doctor Angel Chamorro of the Hospital Clinic - © FreeOx Biotech