Palobiofarma is one of 22 companies that have been given fast-track approval from the Centre for the Development of Industrial Technology (CDTI) for urgent R&D projects to help tackle Covid-19. The biopharmaceutical company will receive funding from the CDTI through the preclinical phase for a new antiviral compound.
Julio Castro, founder and CEO of Palobiofarma, explained that “his work focuses on designing and developing a drug that inhibits the enzymatic activity of the ACE2 protein and stops respiratory viruses, like SARS-CoV-2, from binding to cells in the respiratory system.”
Castro, along with three other businesspeople, had a video-conference with Minister of Science Pedro Duque and CDTI General Manager Javier Ponce in late May to explain their project.
Photo: Julio Castro, in an archive picture from when he won the 2016 CataloniaBio & HealthTech Biosuccess Award.
Palobiofarma is a CataloniaBio & HealthTech member.
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