Asclepios backs Genmedica with €12m

The fresh capital will enable the firm to begin clinical trials on a new treatment for type 2 diabetes.

Previous funding
In 2007, BCN Empren, Uninvest and Innova 31 backed Genmedica with €3.5m in exchange for a 58.23% stake in the company.

In 2011, Caixa Capital Risc led a €3m funding round for the company. Other investors included BCN Emprèn, a venture capital firm promoted by both Barcelona City Council and the Catalan Finance Institute, which introduced Caixa Capital Risc to the company. VenturCap, several private investors and family offices, and Uninvest, the VC firm managed by the Universidad de Compostela, also contributed.

Company
Founded in 2004 and based in the Barcelona Science Park, Genmedica Therapeutics is a biopharmaceutical company that develops therapies for type 2 diabetes. The firm focuses on chronic inflammation and insulin resistance and expects to start clinical studies in other disease indications in 2013.

People
Simon Conder is managing director of Asclepios.

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• Topics
• Southern Europe
• Healthcare
• Expansion
• Spain
• Caixa Capital Risc