IDP Pharma, founded in 2015 and with headquarters at the Barcelona Science Park (PCB) has raised, during its first operative year, over 2 million euros from public and private capital. The biopharmaceutical company –specializes in the development of drugs for cancer treatment directed to a new class of therapeutic targets: IDPs– will appoint this capital to continue the preclinical development of their most advanced products: two first-in-class molecules with antitumor activity for Multiple Myeloma, the second most common blood cancer

IDP Pharma has closed up a private funding round of 1.4 million euros, led by industry investors and business angels. The biopharmaceutical has also obtained 575,000 euros of public funds from the Centre for the Development of Industrial Technology (CDTI)- NEOTEC Program, National Innovation Company S.A. (ENISA), the Ministry of Economy and Competitiveness (MINECO) and the ACCIÓ agency of the Generalitat of Catalonia. These funds are in addition to the 100,000 euros raised in the first round completed in June 2015 with small investors, mainly scientists.

The company will appoint this capital injection to complete the preclinical development of its two candidates for the treatment of multiple myeloma, a rare and incurable disease of the bone marrow and the second most common blood cancer. According to the World Health Organization (WHO), multiple myeloma accounts for about 1% of all cancers. Each year approximately 114,000 new cases are diagnosed and about 80,000 people die from it, with an incidence of 1.5 per 100,000 inhabitants.

In addition, IDP Pharma will allocate the funds raised to the development of specific technology for the design of anticancer drugs targeting IDPs.

“The funds raised will allow us to develop our technology and advance the development of our products in order to obtain approval from the European Medicines Agency and thus to initiate clinical studies from 2020. Although multiple myeloma is one of our priorities, we have also initiated new drug discovery programs targeting IDPs involved in other types of cancer. Thanks to the support and trust of small investors, industrial investors, business angels and public institutions, IDP Pharma faces a new stage of consolidation and growth, which we trust will place us in the coming years as leaders in the development of drugs directed to new therapeutic IDP targets”, says Santiago Esteban, cofounder and CEO of IDP Pharma.
 

New therapeutic targets in the fight against cancer

Traditionally, the role of proteins has been closely linked to their three dimensional structure. However, in the 90s a new class of functional proteins lacking a well-defined three-dimensional structure was discovered. This new class of proteins is known as Intrinsically Disordered Proteins (IDPs).

IDP Pharma focuses its R&D activities in the discovery of drugs working along innovative mechanisms of action exclusively based on IDP proteins, a new class of therapeutic targets. Rare hematologic diseases, for which there is no effective treatment, especially multiple myeloma, are currently a priority in the company´s portfolio of compounds.

“The importance of the role that IDPs play in human diseases is well documented today. It is estimated that up to 70% of proteins involved in cancer may be of the IDP-type. The particular properties of IDP proteins have in the past discouraged the pharmaceutical industry to exploit IDPs as therapeutic targets. The breakthroughs achieved in the last decade, both in our understanding of the role of these proteins in cancer, coupled with the development of technologies for their study, have made it possible for IDP proteins to be one of the therapeutic targets with the greatest potential and attractiveness to the pharmaceutical industry”,  Laura Nevola, co-founder and CSO of IDP Pharma, says.

A team with over 40 years of experience in the field of IDP proteins

IDP Pharma is a startup founded in 2015 by three entrepreneurs scientists, Santiago Esteban, Laura Nevola, Gustavo Fuertes and a biotech business expert, Raúl Insa. The team accumulates over 40 years of experience in the field of IDP proteins, drug design and pharmaceutical sector, has led research projects in biotechnology companies, national and international public research centers, and has published in dozens of scientific publications. The biopharmaceutical company also has a scientific and strategic advisory board of recognized international excellence.

The company specializes in the development of new therapies for the treatment of cancer. Its differential strategy is based on the development of first-in-class drugs directed to a new class of therapeutic targets: the IDP proteins (Intrinsically Disordered Proteins). The development of drugs against these targets can introduce innovative therapeutic avenues in the market. This is of outmost relevance to diseases for which there is no effective treatment, such as multiple myeloma.

Currently, IDP Pharma has two products in pre-clinical study aimed at the treatment of multiple myeloma. The company also develops specific technology for the discovery of targeted drugs to tackle IDPs.