Peptomyc secures €5.7 million in funding for cancer research

Catalan biotechnology company Peptomyc has closed a €5.7 million funding round. The Institut Català de Finances (ICF) participated with a €700,000 investment, marking the debut of the Lidera Transferència en Salut fund. This new fund, backed by €60 million from the Generalitat and ICF, aims to transform research from Catalan universities and centers into viable business projects.

The funding round, which initially opened in February with a €5 million close, also included participation from Alta Life Sciences Spain I (advised by Asabys Partners), Aurora Science, the EIC Fund, Laudecum, and the CDTI.

Peptomyc intends to use the capital to complete three ongoing clinical trials for OMO-103, its primary cancer drug candidate. The company also plans to prepare for manufacturing in later development stages and engage in discussions with potential pharmaceutical partners. Peptomyc expects to present Phase 1 study data regarding patients with metastatic pancreatic cancer.