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Genmedica Therapeutics completes 1 M € investment round

By 5 de February de 2014November 18th, 2020No Comments
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Genmedica Therapeutics is based in the Parc Científic de Barcelona.
 05.02.2014

Genmedica Therapeutics completes 1 M € investment round

Genmedica Therapeutics – a clinical stage biopharmaceutical company that develops new products for the treatment of diabetes, based in the Parc Científic de Barcelona– has completed a1 M € investment round.The proceeds will be used to advance the development of the company´s products for the treatment of type 2 diabetes. In the company has restructured its management team. Dr. Ignacio Faus has been appointed as new Chief Executive Officer.


Genmedica Therapeutics has completed a 1 M € fundraising campaign that has been subscribed by its shareholders as well as new investors. These resources, together with those committed by the British venture capital firm Asclepios BioResearch, will allow the company to advance its lead compound, GMC-252, into Phase IIa “proof-of-concept” clinical studies.

GMC-252, the company´s most promising compound, is a novel oral therapy for the treatment of type 2 diabetes. It works by targeting oxidative stress and inflammation via its dual moieties (GMC-252 is a single small molecule constructed from a known anti-inflammatory (NSAID) and a known anti-oxidant compound). The compound has been very effective in the treatment of diabetic animal models and has shown an excellent safety profile in Phase I clinical studies. Its efficacy will now be tested in diabetic patients in a Phase IIa clinical study.

In parallel to the completion of the fundraising the company has appointed Dr. Ignacio Faus as Chief Executive Officer. The Board of Directors has been revamped and includes representatives from ICF Capital and Caixa Capital Risc. Dr. Joaquím Trías continues as an independent Director.

The new CEO, Dr. Ignacio Faus, co-founded Palau Pharma in 2006, grew it into one of the world leaders in the field of autoimmune / inflammation disorders and successfully divested the company in 2012 and 2013, selling its assets to some of the largest global pharmaceutical companies in the world. He brings to Genmedica vast experience in the management of the investment-operational-divestment life cycle of biotechnology companies.