# Palobiofarma, S.L.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/palobiofarma-s-l

- Industry: Pharmaceuticals
- Headquarters: Barcelona, Spain
- Website: www.palobiofarma.com
- Total disclosed funding: $9.8M
- Latest round: Series D (Jun 20, 2013)
- Investors on record: 3

## About

Based in Barcelona, Spain, and founded in 2006 by CEO Julio Castro, Palobiofarma, S.L. operates as a biopharmaceutical company that offers drug based on the modulation of adenosine receptors that discover and develop pharmaceutical products. In February 2024, Palobiofarma, S.L. raised EUR 7 million in venture funding led by Inveready Asset Management, with participation from Sodena.

Palobiofarma, S.L. focuses on developing drugs that modulate adenosine receptors for various physiological processes and diseases. The company's pipeline includes multiple candidates such as PBF-680, which is an adenosine A1 receptor antagonist for asthma and COPD, recently completed a Phase II trial with positive outcomes. PBF-999, targeting Prader-Willi Syndrome, received Orphan Drug Designation from the FDA and EMA. Other notable candidates include PBF-677 for inflammatory bowel disease, PBF-1129 for idiopathic pulmonary fibrosis and lung cancer, and PBF-1650 for autoimmune diseases like psoriasis and atopic dermatitis. Palobiofarma also has PBF-509, an adenosine A2A receptor antagonist, out-licensed to Novartis for solid tumor treatment. It partners with Contract Research Organizations (CROs), research centers, and universities for pharmacology and toxicology tests essential for full compound characterization and candidate development.

The company plans to use the funding from February 2024 to complete three phase II clinical trials in which the efficacy of its most advanced products is being studied, namely PBF-680 in patients with chronic obstructive pulmonary disease, PBF-999 in patients with Prader-Willi syndrome and PBF-1129 in patients with non-small cell lung cancer.

## Funding rounds

- Series D, Jun 20, 2013, $6M — Inveready Asset Management, Sodena, FiTalent
- Series B, Jun 14, 2012, $1.3M — Inveready Asset Management, FiTalent
- Series B, Jul 15, 2010, $2.5M — Inveready Asset Management

## Investors

- Inveready Asset Management (https://capitalatlas.ai/funds/inveready-asset-management) — Series B, Series D
- FiTalent (https://capitalatlas.ai/funds/fitalent) — Series B, Series D
- Sodena (https://capitalatlas.ai/funds/sodena) — Series D