On November 19, 2020 Laminar Pharma, a biotech company based in the Balearic Islands, reported that it is getting closer and closer to its IPO (Press release, Laminar Pharma, NOV 19, 2020, View Source [SID1234572013]). It launched a funding round this month to increase its investment in research staff and advance the development of clinical trials.
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This operation aims to raise 1.2 million euros
The financing round was launched on October 30 with the aim of raising 1.2 million euros and is currently available on the Fellow Funders Crowd Investment platform. In the first two weeks, thanks to the trust of numerous investors, more than one million euros have been raised, which is equivalent to 92% of the target set. As there are still another two weeks left, everything suggests that the target will be met. In addition to this main source of financing, which is private investment, Laminar Pharma has received support from the Spanish government, Spain’s regional governments and the European Commission.
Pablo Escribá, CEO of the biopharmaceutical company, has a positive outlook: "We are optimistic about exceeding the planned target, as we did in the round at the end of last year. Currently at Laminar Pharma we hold patents for 8% of all drugs under development by Spanish biotechnology companies in our country, according to the pipeline of the Spanish Association of Bio-companies (ASEBIO) and we hope to grow in valuation as we advance in the clinical research stages of our drugs undergoing development. The company plans to request marketing authorization from regulatory agencies in two years, with the aim of announcing our first market launch in 2023."
Fellow Funders partner Mariano Colmenar is satisfied with the operation, which is run by his own collective financing platform, authorized and supervised by the National Securities Market Commission (CNMV) since 2016. "We have shown that investors see a promising future in the biotechnology sector, anticipating good benefits. The pharmaceutical market is a long-term market, since years of research and clinical trials are necessary before the products can safely be launched to market."