The private placement is Neuropharma’s second round of capital raising (the first was conducted in 2004 raising €16 million for 25% of the company). Both rounds were managed by Banif, subsidiary of the Santander Group specializing in private banking.
The new funds obtained will finance the development of two of the company’s most advanced compounds : NP-12 (GSK inhibitor) now in Phase I and NP-61 (ß-amyloid inhibitor) shortly to begin Phase I as well as finance the development of new research in neurodegenerative and neuro-regenerative projects at the comapny. Neuropharma is one of two companies to have published positive results on the capacity of GSK inhibitors to modify the degenerative course of Alzheimer’s disease by altering the mechanism creating the lesions in the brain. Current treatments only produce minor improvements of the symptoms during short periods of time but are unable to delay or modify the course of the disease.
For additional information: Belén Sopesén Neuropharma Tel: +34 91 806 11 30 http://www.neuropharma.es/ Arturo Pinedo / Victoria Bartolomé Llorente & Cuenca Tel: +34 91 563 77 22 apinedo@llorenteycuenca.com vbartolome@llorenteycuenca.com
Notes for the editor Alzheimer´s disease Alzheimer’s is a serious, chronic, irreversible and age-related disorder. It is caused by extensive degeneration of the brain due to slow neuronal death. It affects more than 27 million people in developed countries and this number is expected to triple by 2050. The social cost associated with the disease exceeds 100.000 million dollars annually worldwide. The treatment cost per patient is over 18.000 € per year. The causes of the disease remain unknown; however the molecular bases of the two characteristic lesions associated with the death of neuronal cells are now known to be 1) senile plaques, pathological deposits of amyloid peptide in the extracellular environment and 2) neurofibrillary tangles, anomalous intracellular modified tau protein deposits (hyperphosphorylated) inside the cells.
Neuropharma Established in 2000, Neuropharma is a biopharmaceutical company owned 59% by Zeltia S.A. and 41% by private investors. The company is focused on the development of new medicines for the treatment and prevention of diseases related to the central nervous system,particularly Alzheimer’s disease.
