Palobiofarma is a Navarrese biotechnology company focused on discovery and development of drugs that modulate adenosine receptors. The company reports a pipeline of six products in clinical development, including three assets in phase II: PBF-680 (COPD), PBF-999 (Prader‑Willi syndrome) and PBF-1129 (non‑small cell lung cancer). Proceeds from the new financing are intended to complete these advanced phase II trials and support progression to the start of Phase III. Julio Castro (PhD) is the company's founder and CEO. Historically Palobiofarma has financed development largely through licensing agreements, notably a 2015 deal with Novartis that generated significant proceeds for shareholders. The company expects the funding to enable further licensing deals for its most advanced assets once clinical efficacy is demonstrated. PaloBiofarma, founded in 2006, is a biotechnology company with a platform to generate selective agonists and antagonists of adenosine receptors. Its pipeline targets four indications with lead assets PBF-509 (type II diabetes) and PBF-680 (asthma) and two earlier programs PBF-695 (glaucoma) and PBF-999 (schizophrenia). The company planned to advance the two most advanced projects to proof-of-concept in patients and push the other two into initial clinical phases. PaloBiofarma announced a €4.5M financing package, composed of investor commitments plus public grants, to fund development over the next two years. The financing also enabled relocation of the company's registered and tax headquarters to Navarra and the opening of a new research laboratory at the CEIN business incubator. Management is led by CEO Julio Castro and CSO Juan Camacho, both with doctoral degrees in chemistry and extensive pharmaceutical research experience. Palobiofarma is a Barcelona-based biotech that develops drugs targeting neurodegenerative and respiratory diseases based on the beneficial properties of coffee and caffeine. Its two most advanced products are aimed at relieving side effects of Parkinson's disease medications and addressing effects related to inhaled asthma drugs. The company says the newly raised funds will finance clinical trials for those two candidates. Palobiofarma was founded in 2006 by Julio Castro as a spin‑off of the Institut Químic de Sarrià (IQS). Prior financings include €500,000 in 2006 and €2 million in 2010, the latter funded partly by Inveready Seed Capital, business angels (including Carlos Buesa and Tamara Maes) and public grants from the Ministry of Industry. After the €1 million third-round investment, the company reports it has €2 million available to execute its business plan between 2012 and 2013.

Total raised

$15M

Funding rounds

3

Latest round

Equity

Latest activity

Feb 2024