Navigation Links
SOM Biotech Licenses its First Product and Expands to the United States
Date:7/25/2017

BARCELONA, Spain and CAMBRIDGE, Massachusetts, July 25, 2017 /PRNewswire/ -- The med-tech biopharmaceutical company SOM Biotech, specializing in repurposing drugs to treat rare nervous system diseases, has concluded a worldwide license agreement with Corino Therapeutics Inc. to clinically develop and market the drug SOM0226 against transthyretin amyloidosis (ATTR). Before this licensing agreement had been reached, the drug achieved very promising results in a Phase 2 study conducted in Europe.

A new office in the United States

The office, located in Cambridge, Massachusetts, is managed by Michael Greenberg. Mr Greenberg is a recognised expert in business development in the healthcare industry, with more than 20 years of experience in negotiating international alliances and managing cutting-edge biopharmaceutical companies in the United States, Europe and Asia.

Series A fundraising

The geographic expansion, and the clinical development of SOM's most advanced assets, will be capitalized through the licensing revenues from SOM0226, as well as the commencing Series A fundraising, targeted to leading US and European venture investors.

SOM Biotech will dedicate the resources secured to conduct the next clinical trials and expand the company pipeline through its platform technology; SOM3355 is a drug indicated for chorea movements associated to Huntington's disease and tardive dyskinesia, and SOM1201 has shown clinical evidence of efficacy for Adrenoleukodystrophy (ALD) and potentially Adrenomyeloneuropathy (AMN).

This injection of capital will also allow the biopharmaceutical company to channel plenty of resources into its expansion into the North American market. Initially, its activity will be centred on promoting licensing projects and partnerships on the field of repurposing drugs for rare neurological diseases.

Altogether, since it was created in 2009, the company has raised more than $6 million from public and private capital.

Dr Raúl Insa, SOM's founder and CEO, went on to say, "SOM is entering an aggressive international growth stage to become the world's leading company in drug repurposing. We have made it past the initial business concept stage with our first licence and are now pushing into the clinics the next two products, while expanding the pipeline. Our major challenges are getting our leading products to reach the market in the next 5 years and build a sustainable business model realizing the value that investors are expecting from this company."

About SOM Biotech

SOM Biotech Ltd. (www.sombiotech.com) is a med-tech biopharmaceutical company founded in 2009 in Barcelona (Spain) with a business and expanding presence in Cambridge, Massachusetts (United States). The company's business strategy consists of identifying, clinically developing and marketing drugs to treat rare neurological diseases, using drugs already on the market (repurposing).

SOM has an extensive portfolio of products that includes drugs for rare diseases (Huntington's disease, Adrenoleukodystrophy, Glioblastoma and Duchenne Muscular Dystrophy) as well other drugs for different therapeutic areas.

The company is also engaging in repurposing collaborations with major pharmaceutical companies by supporting them in developing the drugs in their portfolios and through partnership agreements.

 

View original content with multimedia:http://www.prnewswire.com/news-releases/som-biotech-licenses-its-first-product-and-expands-to-the-united-states-300492904.html


'/>"/>
SOURCE SOM Biotech
Copyright©2017 PR Newswire.
All rights reserved


Related medicine technology :

1. TNI BioTech, Inc. Corporations CEO Issues Letter to Shareholders Discussing Recent Events
2. Sony Biotechnology Inc.s New Technology for Science Provides Researchers Results in Color
3. TNI BioTech, Inc. Stock to Begin Trading on the OTCQB Marketplace
4. Goodwin Biotechnology Announces Process Development Sub-Contract for an Anthrax Vaccine
5. MRI Interventions CEO to Present at 2013 Brain Tumor Biotech Summit regarding MRI-Guided Therapies for Brain Cancer
6. TNI BioTech, Inc. Announces Mandatory Exchange of Common Stock Certificates CUSIP Number 872608104 for New Stock Certificates with Active CUSIP 872608203
7. Evaluate Report to Examine Life After the Patent Cliff, Provides Analysis on Pharmaceutical and Biotech Markets and Consensus Forecasts to 2018
8. Mid-Atlantic Biotech Leaders Featured On BioSpace Map
9. Platine Pharma Services et Indicia Biotechnology se rapprochent pour renforcer leur leadership en immunomonitoring
10. ResearchMoz.us: Biotechnology Market By Application (Biopharmacy, Bioservices, Bioagri, Bioindustrial), By Technology (Fermentation, Tissue Regeneration, PCR, Nanobiotechnology, DNA Sequencing & Others) - Global Industry Analysis, Size, Share, Growt
11. The Galien Foundation Announces 2013 Prix Galien USA Nominees for "Best Biotechnology Product," "Best Pharmaceutical Agent," and "Best Medical Technology"
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/10/2017)... Calif. , Oct. 10, 2017  NDS received FDA 510(k) ... — a medical-grade battery-powered display stand specifically designed for endoscopy environments. ... transform technology into a clinical solution to support the improvement of ... Innovative Design ... Mobile Wireless Solution ...
(Date:10/7/2017)... IRVING, Texas , Oct. 6, 2017   ... industry with more than $100 billion in purchasing power, ... industry news and information. The Newsroom is ... chain and industry trends, infographics, expert bios, news releases, ... Besides having access to a wealth of resources at ...
(Date:10/4/2017)... , Oct. 4, 2017  South Korean-based healthcare product ... training aide "cprCUBE" on Kickstarter. The device will educate ... cardiac arrests with better efficiency compared to the dated ... real-time feedback on efficacy of the compression for a ... has a goal to raise $5,000. ...
Breaking Medicine Technology:
(Date:10/13/2017)... Vegas, Nevada (PRWEB) , ... October 13, 2017 , ... ... 7® Hemp CBD Oil utilizing Purzorb™ technology. Applying the Purzorb™process to full spectrum CBD ... dose required and providing a CBD form that can be easily incorporated into liquid ...
(Date:10/13/2017)... N.J. (PRWEB) , ... October 13, 2017 , ... The ... Holly Day Market. Featuring a collection of specialty vendors and unique items from across ... personalized and quality-focused health and wellness services offered by the VNA. The boutique ...
(Date:10/13/2017)... ... October 13, 2017 , ... ... Agile Software Development, has been awarded a contract by the Center for Medicare ... (BPA) aims to accelerate the enterprise use of Agile methodologies in a consistent ...
(Date:10/12/2017)... ... ... Planet Fitness, one of the largest and fastest growing franchisors and operators ... location in Covington, LA at 401 N. U.S. Highway 190, in January of 2018. ... in the Holiday Square shopping center. Its location allows it to serve both Covington ...
(Date:10/12/2017)... (PRWEB) , ... October 12, 2017 , ... ... drug delivery system that we intend to develop to enable prevention of a ... lead to severe hearing loss, especially in pediatric patients. For cisplatin, hearing loss ...
Breaking Medicine News(10 mins):