Spanish Biotech Raises €21.3M To Advance Rare Disease Pipeline

Rare genetic diseases in the central nervous system may be less of a headache in future, as Barcelona-based biotech Minoryx has raised €21.3M in series B fundraising to test its lead drug candidate against other rare neurological conditions.

According to Philippe Monteyne, partner at investor Fund+, “it is the largest investment in biotech in Spain this year.” Fund+ is also investing in other Spanish companies, such as Aelix, which is developing an HIV vaccine.

In January this year, Minoryx began a Phase II/III trial of its lead compound, which has orphan designation, in patients with adrenomyeloneuropathy. This is the most common form of the neurodegenerative disorder X-linked adrenoleukodystrophy, which predominantly causes neurodegeneration in the spinal cord in adult patients.


The rare X-linked disorder is caused by a mutation in the gene ABCD1, resulting in the buildup of fatty acids and inflammation in the central nervous system. Minoryx designed its lead compound, a metabolite of the antidiabetic drug pioglitazone, to counteract this by decreasing the inflammation and neuronal death associated with the condition.

Neurons CNS Minoryx

The company now plans to launch a new clinical trial of the same drug candidate in the second most common form of the X-linked condition, childhood cerebral adrenoleukodystrophy. Minoryx also hopes to target other new indications with the funding.

Minoryx Therapeutics is a very promising company…in the field of rare diseases of genetic origin with a high unmet medical need”, commented Monteyne, now a member of Minoryx’s Board.

It’s a small molecule, maybe not the most revolutionary approach but there’s a very high medical need where we can make a difference”, he added.


Images from Shutterstock

Support good journalism, subscribe to Labiotech Insider

Labiotech Insider

If you liked this post and want to read more good journalism, support us by joining Labiotech Insider. Our Insider membership gives you access to exclusive content and other advantages.