FreeOx Biotech, a Barcelona, Spain-based late-stage clinical biopharmaceutical company, raised €1.7M in the first close of its seed funding.
Backers included investors in Canada, the U.S., Spain, and Israel.
The company also announced the formal launch of the seed round to advance its novel stroke drug into Phase III clinical development.
Founded by Dr. Angel Chamorro, and led by Chairman of the Board and Chief Executive Officer Emmett-Phil Coriat, FreeOx Biotech is a late-stage clinical-stage biopharmaceutical company dedicated to developing cerebrovascular protective therapy, a new drug class for the emergency treatment of Acute Ischemic Stroke (AIS) patients. By focusing on restoring microcirculation homeostasis and enhancing penumbra reperfusion, it aims to advance stroke care and improve patient outcomes. The company is building a pipeline based on a proprietary liposomal formulation technology that broadly expands opportunities in neurology. FreeOx’ lead product, Ox-01, is Phase III- ready.
The initial €1.7M will be used primarily to advance FreeOx Biotech’s lead product, Ox-01 to a Phase III registrational trial in the U.S. In addition to the pharmaceutical grade Uric Acid active ingredient in Ox-01, FreeOx is building a pipeline based on a proprietary liposomal formulation technology that broadly expands opportunities in neurology.
FinSMEs
06/12/2023