How EFSI benefits SMEs in Europe - Ysios Biofund II Innvierte case study: Minoryx Therapeutics (Spain), Life Sciences

Diseases that affect fewer than one in 2000 persons are classified as rare diseases. While they may be rare, for more than 27m people across the EU today, they can still be life-threatening or cause chronic health problems. Adrenoleukodystrophy (ALD) is one such rare disease. It is a genetic condition that can cause brain neuro-inflammation and early death, occurring both in children and adults, or severe motor dysfunction in young adults. Most worryingly, there is no cure for it today.

Minoryx is a biotech company on a mission to change that, leading the development of new therapies for ALD and other rare diseases of genetic origin. “At Minoryx, we strive to provide innovative life-changing treatments for diseases with high unmet medical needs” explains Marc Martinell, co-Founder & CEO of the company.

Since Minoryx was founded in 2015, they have attracted an important investment from Ysios Capital, a venture–capital firm backed by EIF under the EU’s Investment Plan for Europe. Laia Crespo, Investment Director at Ysios Capital, explains that “the unique approach of Minoryx’s technology and the quality of the team convinced us of the potential. We are confident that this initiative will help patients suffering from this devastating disease by offering a viable therapeutic option.”

The investment allowed the company to initiate regulatory pre-clinical activities and successfully complete a phase-1 clinical trial. They are now in the process of conducting further clinical trials, with a view to eventually pursuing marketing authorisation.

“The funding allowed us to double our size and push ahead with our plans. Additionally, it has also had a knock-on effect on many service-providers on whom we rely for many of our outsourced activities, like clinical study providers, regulatory advisors or manufacturing teams” Marc adds.

Looking ahead, Minoryx will be continuing with the development of this particular treatment, also exploring its use in tackling other rare diseases.

Company: Minoryx Therapeutics (Spain)

Type of business: Life Sciences

EIF financing: InnovFin Equity, EFSI

Financial intermediary: Ysios Biofund II Innvierte

For further information about EIF intermediaries in Spain, please refer to: http://www.eif.org/what_we_do/where/es