The firm based in Ourense brings in Ramon Bosser as Chief Executive Officer and shareholder through capital increase that also strengthens the shareholding presence of Galchimia and Julio Castro, president of Palobiofarma.
Origo Biopharma plans to open in 2020 a funding round for institutional investors and private equity firms to “keep moving forward”
Santiago de Compostela September 19 2019. The company Origo Biopharma, founded in 2017 and based in Parque Tecnológico de Galicia (Ourense), is the result of the progress made by the galician medicinal chemistry company Galchimia, based in O Pino (A Coruña), in the project IO4COLON, an initiative supported by the Galician regional Administration. The company has carried out a capital increase to strengthen its shareholding structure and gain financial muscle in order to significantly achieve progress in the development of various organ restricted drugs, the first of these against colorectal cancer and Crohn´s disease.
Up until now, the capital of Origo Biopharma was composed equally by GalChimia, whose CEO is Carme Pampín, who also heads the Business Technology Cluster of Life Sciences (BIOGA), and Julio Castro, who chairs Palobiofarma, an innovative biotech company based in Navarra and Barcelona, dedicated to drug discovery. The new capital increase in Origo Biopharma reinforces the presence of these two reference partners and allows Ramon Bosser to also become shareholder, besides his appointment as CEO of the company.
Ramon Bosser, PhD in Celular Biology and degree from the IESE Senior Management Program (PADE), has extensive experience of more than twenty years in the management of companies and projects in the field of discovery and development of new drugs in pharma and biotech environments (Roche, Almirall, Spherium). “Having a person with the experience of Ramon Bosser will give a great boost to the Galician company and consolidates all the promising results achieved to date”, says Julio Castro, co founding-partner of Origo Biopharma. Ramon Bosser, from his part, values joining the project: “I have been 23 years in the pharmaceutical industry and I join Origo because it is a very exciting initiative”.
Origo Biopharma is the company created to manage the contributions and the progress made by GalChimia in the project IO4COLON, an initiative that had the financial support of the Galician Administration, through the Conecta Peme 2018 Program, and whose objective is the discovery and development of innovative therapeutic products against colon cancer. The company itself assures that it is focused on “the early discovery and development of new drugs with a high unmet medical need”. The program Conecta-Peme 2018 of the Galician Innovation Agency (GAIN), is co-financed by European Funds for Regional Development (FEDER) and is supported, through the Xunta de Galicia, by the Ministry of Economy, Employment and Industry.
“The trust gained from the Galician administration and the public funding has been essential for the progress of the project”, explains Carme Pampin, co founding-partner. The company hopes to open a financing round early next year. “We plan to raise around one million euros that will serve to put our first drug into clinical trials”. The idea is to launch a new capital increase during the next year, targeting institutional and / or private partners interested in supporting this biotechnological initiative.
Avoiding side effects
Where is the strenght of Origo Biopharma? Ramon Bosser details it: “We develop TGF-beta inhibitors, a pathway with a very important role in the field of immuno-oncology and fibrosis, with the specific characteristic that they have a local effect, in other words, that they will have effects only where we want them to be active, avoiding side effects in the rest of the organism”. The immuno-oncology consists in creating an effective immune response against a certain type of tumor and that helps generate clinical benefits to those who suffer from that cancer or type of disease. In short: take advantage of the body’s own immune system to fight malignant cells. The CEO of Origo Biopharma announces that the research of the company’s first product is aimed at diseases located in the gastrointestinal tract, such as colon and rectal cancer and the fibrosis associated with Crohn´s disease. Ramon Bosser ensures that it is “a very novel work”. “As far as we know, there is no one in the world who is using this approach with this target”, says the CEO of the Ourense based company.
Origo Biopharma is also realistic and admits that the results of the biopharmaceutical R&D may take time to reach the market. “It take at least ten years to complete the development of a drug and, on top of that, it requires millions of euros”. The business model of the new company is to “move forward until reaching a point where the product is attractive for someone to incorporate it into its portfolio and develop it”. At this point, the presence of a big pharma would be fundamental. All will depend on the results from the on going research of Origo Biopharma, but the whole promoting team is confident that “in a period of two or three years” the company should be in a good position to close a first agreement with a multinational pharmaceutical company.