SOM Biotech is a biopharmaceutical company based in the Parc Científic de Barcelona, founded in 2009, that specializes in repositioning drugs for rare neurological disorders. Its core technology is a computational platform based on AI algorithms to discover new therapeutic activities of existing drugs. The company’s lead clinical program is SOM3355, a repurposed antihypertensive now in a Phase IIa proof-of-concept trial for choreic movements in Huntington’s disease. SOM3355 is currently marketed for hypertension in Asian markets, which SOM Biotech says reduces development risk; the company projects the drug could reach the market within five years with estimated annual sales above €600 million. Since inception the company has raised more than €12 million from private capital and public grants and loans, and independent experts have placed a theoretical company value above €200 million. SOM Biotech has developed over 40 projects, filed around a dozen patents (about half granted), and has licensed SOM0226 to Corino Therapeutics (2016) and SOM0777 to U-Cell Therapeutics (2018). SOM Biotech is a Barcelona-based biopharmaceutical company specializing in repurposing approved drugs to treat rare nervous-system disorders. Its pipeline includes SOM3355, a repositioned compound that has reached Phase II trials for Huntington's disease. The company plans to use new funding to consolidate its presence in the United States and to strengthen licensing and co-development activities in the first half of 2017. SOM3355 is positioned as a lower-risk, repurposed candidate and the company projects it could reach market in about five years with estimated sales above €600 million. SOM Biotech reports having filed eight patents for new indications or formulations and, according to independent experts cited by the company, has a valuation above €100 million. Since its creation the company has raised more than €5.3 million from private capital and public grants and loans and intends to open a €10 million Series A to accelerate growth. Som Biotech, founded in 2010 by Raúl Insa and Ignasi Belda and based at the Parc Científic de la Universitat de Barcelona, specializes in detecting new applications of already-known drugs for development and commercialization by pharmaceutical companies. The company originated from a technology developed by Intelligent Pharma. Its core work includes filing patents on new uses and formulations; its first patent, filed in the U.S., is an inhaled formulation for treating asthma and chronic obstructive pulmonary disease. Som Biotech aims to detect 25 projects and present at least six patents per year, and in 2011 expected to patent formulations targeting cancer, osteoporosis, malaria and various infections. The company employed 19 people at the time of the article and projected revenues of €3M in 2012 and €7M in 2014. It has indicated plans to potentially open a second financing round later in the year and has initiated procedures to apply for public loans from Enisa and Neotec.

Total raised

$11M

Funding rounds

3

Latest round

Equity

Latest activity

Mar 2019