Madrid, April 25, 2019.- Igen Biolab Group, a Spanish-based biotech company focused on the study of the microbiota impact on the prevention and treatment of cancer, and of neurodegenerative and metabolic diseases, has opened a financing round of up to 15 million euros to complete its clinical study on lung cancer, as well as to begin clinical trials for new compounds for other types of cancer and other diseases.
The company, which has engaged Deloitte as its financial advisor for the fundraising, addresses this round to financial investors and pharmaceutical companies, and explains that, in the words of its CEO, Javier Asarta, “it will be mainly used for the completion of the first clinical trial with a microbiota derived product focused on lung cancer”.
Igen Biolab Group is the first company in the world, as of today, that will perform a clinical study in the field of postbiotics with oncological patients. During the previous PoC, patients with different types of late stage cancer that took this product together with a standard treatment, were monitored with the EORTC quality of life questionnaire and showed an improvement of an average of 34 points on their quality of life, which is considered outstanding in the clinical field.
Clinical study with 300 patients in 25 hospitals
The clinical trial being developed by Igen Biolab Group will have up to 300 patients in 25 hospitals in Spain. “The aim is to confirm the excellent results of the proof of concept and to prove that this postbiotic product/composite improves the quality of life of patients with late stage cancer; trial results are expected to be obtained in early 2020,” Javier Asarta explains.
Meanwhile, the company, founded in 2013, is also working on researching new microbiota based compounds for the treatment and prevention, besides cancer, of other neurodegenerative and metabolic diseases. As of today, research activity has been backed by Trea Life and Black Toro Capital, apart from other private investors.