Inveready in €1m round for AB Therapeutics

The VC invested €300,000 through Inveready Seed Capital, a €16m technology and biotech fund that closed in 2007.

Government foundation Genoma España matched Inveready's contribution with a further €300,000 in the form of a participatory loan. Remaining capital contributions came from business angels and existing shareholders.

AB Therapeutics changed its name to Ability Pharmaceuticals following the funding round. In 2010 the firm received funding from Spain's Centre for the Development of Industrial Technology (CDTI) and ACC1Ó, the agency established by the Catalan Government to promote Catalan enterprise.

Company
Based in Barcelona at research park Parc de Recerca de la Universidad Autónoma, AB Pharmaceuticals is a biopharmaceutical company. The firm, founded in 2009, focuses on the treatment of pancreatic and lung cancer.

People
Roger Piqué is an investment director at Inveready.

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• Topics
• Southern Europe
• Healthcare
• Expansion
• Spain
• Inveready First Capital