Pamplona, October 27, 2015.- Inveready-Biotech II INNVIERTE and SODENA have invested in InnoUp Farma, SL, along with founders. The company has raised 2 million euros from Sodena, Inveready and the Ministry of Economy and Competitiveness.
InnoUp Pharma has developed a proprietary nanotechnology platform that allows the development of orally delivered approved drugs, which are currently only available intravenously.
After robust preclinical bioavailability tests, the current round will allow the completion of regulatory preclinical development of a major chemotherapeutic agent for metastatic breast cancer. This novel oral administration allows for slow drug release, which turns into decreased toxicity and side effects as well as improved efficacy, improved patient experience and significant savings for the Health Care System.
InnoUp was launched in 2013 in Pamplona by Dr. Maite Agüeros, Dr. Juan Manuel Irache and Dr. Manuel Rodriguez Mariscal after very positive results and several years of research. The team has 15 international patents and has published more than 140 scientific articles and brings international experience in the pharmaceutical business.
With the current round of funding, InnoUp will develop the technology to demonstrate bioavailability in humans and then plans to license out the platform to a pharmaceutical company.