Pharmamel, spin off of the University of Granada, announces that it has raised 2.1 million euros in a round through Capital Cell which has had 304 investors. The company had set the objective of the campaign at 2 million, with which it has increased capital to go public (BME Scaleup) in the coming months. “This achievement would not have been possible without the support of hundreds of visionaries who have trusted Pharmamel and our innovative intravenous injectable melatonin for the treatment of sepsis,” he explained. Ramón María García Vizcaínoco-founder and CEO of the pharmaceutical company.
Pharmamel’s melatonin-based drug has passed phase II of clinical trials for the indications of sepsis and covid (extendable to other viral processes) and is currently a drug candidate in phase III. The international consultancy in regulatory affairs and CRO Veristathas developed for Pharmamel the strategy and regulatory Road Map to obtain drug registration with the European Medicines Agency (EMA) and the North American FDA, with tests in 17 hospitals.
At the same time, the process to list on the BME Scale has begun, with the support of the registered advisor Armanext and Hispacolexand entering the pre-market environment of the Spanish Stock Exchange and Markets (BME).
Assessment
To fully finance the phase IIB/III clinical trial in Europe and the US in accordance with EMA and FDA regulations and put the drug on the market, Pharmamel opened a new round of Pre-IPO capital increase on Capital Cell, a platform regulated by the CMNV, at a pre-money valuation of 37,000,000 before listing on the BME Scale at a planned and estimated exit quote of 45,000,000.
This round, which has already exceeded two million euros and which closes on January 2, will be complemented by another capital raising campaign for private and specialized investors as well as by public-private investment funds, with which the company has already signed pre-investment agreements/LOI, in a period of between 6 and 12 months.
The company explains that it also expects raise funds CDTI, NextGenerationEU, ENISA and other aid for which the company has already applied and requested.
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