- BStartup by Banco Sabadell and Ship2B led the round
- It is the first formal investment in the BStartup Health investment programme, which will invest in three startups in its first edition
- Admit Therapeutics is a spin-off of IDIBELL and in 2018 it formed part of LAB Tech4Health, a platform driven by DKV, Medichem and Ship2B
- The investment will be used to undertake the development plan for the diagnostic test and initiate the clinical validation phase
BStartup by Banco Sabadell and Ship2B have led a €200,000 investment round at ADmit Therapeutics, a startup which is currently developing a test for the early detection of Alzheimer’s. Ship2B has participated via Equity4Good, its investment vehicle, co-invested by the European Investment Fund and its network of impact investments. Génesis Biomed and other private investors have also participated in the round.
ADmit Therapeutics will use the investment to undertake the development plan for the diagnostic test, to initiate the clinical validation phase and agreements with commercial portfolios. It is expected that the company will develop a new IVD laboratory device which will receive the corresponding CE marking at the end of 2022.
"Our main objective is to develop a diagnostic test for the early detection of Alzheimer’s and implement it in clinical practice. In the short term, the diagnostic test will make it possible to optimise the recruitment of patients for clinical studies, in such a way that the possibility of identifiying a curative drug for this disease is increased, by being able to improve its efficiency” explains Dr Marta Barrachina, General Director and co-founder of the company. Barrachina considers that the partners of ADmit Therapeutics are essential to make progess in this regard: “This investment round makes it possible for us to evaluate our clinical concept test, opening the doors to starting clinical validation and strengthening our intellectual property". Marta Barrachina is a Doctor in Biochemistry and also holds an MBA. Since 2006 she is the primary researcher at IDIBELL, and she has led competitive public and private projects, and her inventions have led to her being granted seven patents. Doctors Ramon Reñé and Jordi Gascón are remaining co-founders and act as the Medical Advisory Board of the company, leading the clinical study.
Alzheimer’s Disease (AD) requires medical care which has not yet been discovered. There are no curative drugs, given that clinical studies have shown a success rate of 0.4%, the lowest of all highly prevalent serious illnesses. There is currently an under-diagnosis of the disease (above all in the mild stage) and a delay of between 12-24 months usually occurs in the moderate stage, once the symptoms have appeared. The problem stems from the disease presenting an asymptomatic period which can last for up to 20 years.
More about ADmit Therapeutics
ADmit Therapeutics is a spin-off of Bellvitge Biomedical Research Institute (IDIBELL, for its acronymn in Spanish) which focuses on the development and commercialisation of a new technology for the early detection of Alzheimer’s Disease. It consists of an early diagnosis test, based on blood markers (non-invasive test) of a series of epigenetic biomarkers using cutting-edge DNA sequencing techniques, which could result in a series of early and very valuable biomarkers.