Minoryx Therapeutics, a CataloniaBio & HealthTech member, has been granted a €25-million loan from the European Investment Bank (EIB) to support development of its main drug candidate, leriglitazone, for neurodegenerative rare diseases.

Leriglitazone is being assessed in three clinical trials: Advance (Phase II/III) for adrenomyeloneuropathy (ALD), Nexus (Phase II) for cerebral adrenoleukodystrophy (cALD) and Frames (Phase II) for Friedreich ataxia.

This is a long-term venture debt operation under the European Fund for Strategic Investments (EFSI), an instrument the EU bank uses to support leading companies in innovative sectors.

EIB Vice-president Ricardo Mourinho Félix, who is in charge of the bank’s activities in Spain, noted that “the support for Minoryx will help make the European pharmaceutical industry more competitive and create highly qualified jobs.”

Minoryx is one of the most promising biotech firms not only in Catalonia and Spain, but in all of Europe. They recently signed a €66-million licensing deal with Chinese company Sperogenix.

More information

Photo: Marc Martinell, co-founder and CEO of Minoryx, and Didier Le Normand, CFO and general director of the Belgium subsidiary - © Minoryx.

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