SOM Biotech raised €7 million

SOM Biotech, a Barcelona, Spain-based a clinical-stage drug discovery and development company, announced that it closed a financing round of 7 million euros ($7.9M).

The money round was led by an undisclosed holding company belonging to a European family with a long tradition in the pharmaceutical sector.

Several of the current partners of SOM Biotech were part of the raise.

The company will allocate this capital injection to complete the presently-running Phase 2a proof-of-concept trial of an innovative treatment for the chorea movements associated with Huntington’s disease: compound SOM3355, the second product of the company that has arrived to clinical phase.

SOM Biotech, founded in 2009, is a biopharmaceutical company working to identify, develop - in preclinical and clinical phase - and market drugs to treat rare diseases, preferably neurological. The company also establishes collaborations with the main pharmaceutical companies and public research centers, supporting them in the development of drugs in their product portfolio and also through co-development agreements.