The operation has been led by the venture capital manager Invivo Capital, with the participation of current investors, the Josep Carreras Foundation against leukaemia and the CDTI, through its Innvierte Programme. In addition, it has had the backing of two new investors, Nara Capital and Clave Capital.
Onechain Immunotherapeutics (OCI), a clinical-stage biotechnology company focused on the development of CAR-T candidates for the treatment of oncological diseases, has closed a €6.7 million pre-series A funding round.
OCI was created in June 2020 as a spin-off of the Josep Carreras Leukaemia Research Institute (IJC) in a bid to bring the research of the group led by Dr. Pablo Menéndez, ICREA research professor and Principal Investigator of the IJC, closer to patients. Since then, the company has managed to reach the clinic in less than three years and has strengthened its pipeline with a new allogeneic platform, a program against hematological tumors and another against solid tumors.
"Our company is a clear example of public-private collaboration for the benefit of patients," said Jorge Alemany, CEO of the company. "It is an example of how the initiative of a non-profit Foundation, with the leadership of private investors and the support of the administration, can generate benefit for patients, create jobs and advance science," he added.
This milestone represents a step forward for the company, which will use the financing obtained to consolidate its product line and bring its innovative solutions to the clinical phase.
OCI's approach to cancer treatment is based on CAR-T technology, which allows the genetic modification of the patient's T cells so that they are able to recognize and destroy cancer cells. This technology, although already consolidated in the treatment of certain leukemias and lymphomas, is a pioneer in the treatment of T-type leukemias and solid tumors, and represents a new hope for patients with few treatment options.
"CAR-T therapies are revolutionizing cancer treatment, being the best therapeutic alternative for patients refractory to other treatments and with relapses, providing OneChain with a differential value in childhood leukemias," said Joan Mercadal, partner of Nara Capital.
"We are convinced of the enormous potential that CAR-T therapies represent for the treatment of cancer and, therefore, we strongly support the advances that OCI is making in this field," said Laura Rodríguez, principal at Invivo and advisor of OneChain.
The participation of new investors in the financing round is also a reflection of this success, as they not only strengthen the company's financial position, but also validate its progress and the potential of its therapeutic proposal. "We want to welcome the new investors, who have trusted in the translational capacity of the OneChain team, and who will accompany us in this new stage to consolidate a portfolio of products in cell therapy with the aim of improving the lives of patients," concludes Rodríguez.
In addition to the confidence placed by private investors, OCI has received a financial injection from the European Innovation Council (EIC) through its Transition call, which promotes activities aimed at preparing the market launch of new technologies. Specifically, the company has received 2.5 million euros for the development of a novel CAR-T therapy that does not depend on the patient's own cells (allogeneic) and simultaneously attacks two targets of cancer cells.
"The financial support of the European Commission is especially important for us, not only because of the financial boost it gives us, but also because of the distinction it represents," said Alemany.
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