InnoMedica develops a proprietary technology platform that enables the targeted distribution of drugs in the body. The company has raised CHF 10.25 million from new and existing shareholders to accelerate product development and expansion.
According to InnoMedica, cancer, cardiovascular diseases and diseases of the central nervous system are one of the core causes of death, not because of lack of potent drugs, but the failure of drugs to reach the disease site and their biological distribution within the body.
Based on the scientific findings on the body’s biological transport system, InnoMedica has developed a proprietary technology platform that enables the targeted distribution of drugs in the body. The transport system of InnoMedica is based on liposomes with an intelligent surface structure. In addition to its lead products Talidox and Talineuren, InnoMedica has additional products in the pipeline: drugs against cancer, arteriosclerosis as well as a contrast agent for the identification of tumors for more precise surgical removal.
The startup has now raised additional capital of CHF10.25 million from 174 new shareholders and 124 existing shareholders who have further expanded their commitment. As in previous financing rounds, the company has grown its shareholder base this year to around 640 shareholders.
The new funds will facilitate the expansion of the production facility in Marly (Freiburg), allowing Talidox to be produced in sufficient quantities for market entry after a successful clinical study. At the same time, the company will drive forward the development of its innovative pipeline products, particularly in neurology with further preclinical studies and the toxicology study for Talineuren.
(Press release)
Picture: InnoMedica team
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