Asabys promotes a biotech company for drugs for women's diseases

Asabys, the fund manager, has launched the biotechnology company Oriva Therapeutics, dedicated to developing drugs for chronic and prevalent diseases affecting women. Oriva has closed its funding round, and Asabys has invested a participating loan through its Sabadell Asabys fund. The amount has not been disclosed, but it is estimated to be between €5 and €10 million, according to ARA. Two drugs in advanced stages of research from Oncostellae, based in Galicia, and Medibiofarma, based in Navarre, both founded by Julio Castro, who is also a partner in the new company, have been integrated into the new firm. Oriva Therapeutics will be headquartered in Barcelona and is currently seeking a management team of three to five people to lead its development. "They will be specialists in the development of drugs for women," explains Clara Campàs, co-founding partner of Asabys, who acknowledges that, in part, the choice of Barcelona to locate the company's headquarters is due because the Catalan capital has the necessary talent for this type of companyFurthermore, Campàs acknowledges that at Asabys there was a "desire to invest in projects related to women's health" and that "many companies had been considered and many others rejected." The first drug (and one of the most advanced) being developed by the new company is ORB-362, a non-hormonal therapy for endometriosis. According to Campàs, this active ingredient is particularly interesting because, until now, this disease has been treated with hormonal contraceptives, which therefore prevent patients from having children. According to company data, this disease affects approximately 10% of girls and women of reproductive age worldwide. In fact, this drug is already in Phase 1 trials at the Hospital de Sant Pau. "ORB-362 is compatible with conception and has demonstrated a favorable safety profile in clinical trials conducted by the parent company," Asabys states. The second active ingredient, ORB-499, is targeted at the treatment of uterine fibroids, the most common benign gynecological tumors, and is expected to begin phase 1 clinical trials in the first quarter of next year. According to Asabys, both active ingredients target validated therapeutic targets and are based on innovative chemistry that clearly differentiates them from existing options on the market. According to Campàs, the financial injection into the new company should allow these two drugs to reach phase 2 trials. New therapeutic approach

Julio Castro, founder of the two companies behind these drugs, expressed his satisfaction with the funding obtained from Asabys. "The two assets generated and developed within the parent companies will find a new lease on life at Oriva, with the advantage of new funding and an innovative therapeutic approach," he stated in a press release. Clara Campàs explained that, until now, research into these women's diseases "has been underfunded and neglected, despite its significant impact on women's health." This is the tenth investment by Sabadell Asabys II, and the fund still has the capacity to participate in two or three more projects.