Highlight Therapeutics closes a €15 million funding round led by Buenavista

Buenavista Equity Partners, through its specialized fund BV Healthcare Growth Innvierte I (BHG I) created in collaboration with Columbus Venture Partners, has announced its entry into the shareholding of Highlight Therapeutics, a biopharmaceutical company focused on the development of next-generation immunotherapies. The transaction is part of a €15 million funding round aimed at strengthening Highlight's position as a leader in the treatment of skin tumours and accelerating its clinical development plan.

Buenavista’s investment will enable Highlight to advance its lead compound, BO-112, which is currently in a Phase 2b clinical trial for the treatment of basal cell carcinoma -the most common cancer, with over six million cases across the EU and the US. The treatment has already demonstrated efficacy against aggressive melanoma tumours, and the current study will allow its use to be extended to other tumour types.

BO-112, a derivative of BO-110, is a compound discovered in 2009 by Marisol Soengas’s group at the CNIO and represents the institution’s first oncology candidate to reach clinical studies in patients. The compound works by mimicking a viral infection, activating the immune system to target tumour cells across various types of cancer, including those resistant to immunotherapy.

Marisol Quintero, CEO of Highlight Therapeutics, stated: “Buenavista’s investment enables us to strengthen our team and consolidate our position as a leading company in the development of treatments for skin tumours.” The company has appointed Abel Riera, who has extensive experience in Business Development and M&A, as Chief Business Officer as part of its strategy to reinforce its executive team, with plans of further additions in the near future.

Nuria Osés, Managing Partner of Healthcare Growth at Buenavista, commented: “Highlight’s strategy is fully aligned with BHG I’s vision of supporting therapies with high transformative potential, a strong scientific foundation, and a clear focus on specific medical needs. Its collaboration with leading institutions such as the CNIO and its commitment to developing accessible treatments further strengthen the project’s credentials. We are very excited to support them in this new phase.”

Driving Innovation in Healthcare

This transaction reinforces Buenavista’s commitment to healthcare companies, in line with the strategy of BV Healthcare Growth Innvierte I, a fund launched in 2024 in partnership with Columbus Venture Partners. The vehicle is supported by the CDTI and has achieved a first close of €100 million.

The fund focuses on acquiring minority stakes in innovative healthcare companies that are already operating in the market or are close to commercial expansion. The fund aims to invest in the share capital of between 10 and 12 healthcare companies, primarily Spanish, with investment tickets of up to €15 million per company, addressing the market need for Growth Capital in the healthcare sector.

The transaction announced today marks the third investment by the BV Healthcare Growth Innvierte I fund, following its participation in Syngoi, a CDMO specialised in synthetic DNA manufacturing, and Quibim, a pioneer in transforming precision medicine through imaging biomarkers powered by artificial intelligence.

About Highlight

Highlight Therapeutics is a Spanish biotechnology company specialising in immuno-oncology, focused on the development of innovative cancer therapies. Its lead investigational compound, BO-112, is a double-stranded RNA immunotherapy capable of robustly activating the immune system and enhancing the response against tumours.

In collaboration with the Spanish National Cancer Research Centre (CNIO), the company is conducting clinical trials in various hospitals to address basal cell carcinoma, the most common type of skin cancer worldwide.

About Buenavista Equity Partners (www.buenavistaequity.com)

Buenavista Equity Partners Capital is an independent asset manager founded in 1996 that operates in the middle-market segment. It currently manages more than €1 billion through different Private Equity, Infrastructure and Venture Capital vehicles.

About Columbus Venture Partners

Columbus Venture Partners is a venture capital firm specialising in biotechnology development and investment. Founded in 2016 by Javier García Cogorro and Damià Tormo, the firm currently manages €400 million across four funds, which have originated and/or invested in around fifty companies in the healthcare sector.