The biotechnology companies engaged in epigenetics to develop therapies in oncology and neuro-degenerative illnesses has completed a capital increase of 16.5 million euros with the intention of floating on the Continuous Market before the end of the year.
Capital MAB of the Institut Català de Finances (ICF) has invested 1 million euros in the Catalan biotechnology company Oryzon, specialised in epigenetics for the development of oncological and neuro-degenerative illnesses.
This investment by Capital MAB has taken place as part of the capital increase of 16.5 million euros carried out by the company. Other shareholders have also taken part, chief amongst which is Joseph Fernandez, CEO of Active Motif, an American firm specialised in epigenetics and the founder of Invitrogen.
Oryzon plans to float on the Continuous Market by listing before the end of the year. The biotechnology company will allocate these funds to expediting and enlarging the company’s clinical programs, the development of pre-clinical programs in other epigenetic targets and to reinforce its internationalisation plan.
The Capital MAB fund
Capital MAB is one of 4 venture capital funds together with Capital Expansió, SICOOP and BCN Emprèn, which is directly managed by the Institut Català de Finances (ICF) via its a venture capital management company, ICF Capital.
The objective of Capital MAB, funded with 10 million euros, is to invest in companies that wish to be listed – and/or are already listed – on the Alternative Equity Market (MAB) or other alternative markets, acting as an institutional investor. The companies invested in by Capital MAB are currently AB Biotics, Medcomtech, Agile Content and Lleida.net.
The operations in venture capital is one of the ways (together with loans and guarantees) via which the ICF provides funding to the corporate fabric that operates in Catalonia. This Catalan public financial institution also promotes, manages and participates in venture capital instruments as a form of alternative, strategic funding to support the growth of Catalan companies.