Laminar Pharma opens a new seek capital round of up to seven million euros

Laminar Pharma opens a new financing round of up to seven million euros. The objective is to finish financing the development of its drug LAM561 against the most aggressive and common brain cancer, glioblastoma multiforme, whose patients today continue to receive the treatment that was approved in 2005. The clinical trial in which LAM561 is studied is being studied. It is in phase II/III in adults and has currently recruited more than 85% of the necessary patients distributed in Spain, France, Italy and the United Kingdom.

This round of financing also allows us to undertake negotiations with different pharmaceutical companies to license the product from a position of greater strength.

With this capital increase, the details of which can be found on the company's website, Laminar expects to have covered all expenses for this year 2024, in which, if the results of the clinical study are positive, it is expected to request marketing authorization. The round will be open until July 15, although there is a discount period until May 27.

At the moment all the indications regarding the results of the clinical trial are favorable: a committee of independent experts analyzed in a non-blind manner the available data on safety, futility and efficacy and recommended that the study continue without modifications, the most optimistic scenario, since they could recommend to stop the study for reasons of safety or lack of efficacy or to increase the number of patients due to low statistical confidence, but they did not do so.

Right now, Laminar Pharma's main objective is to license the compound to a large pharmaceutical company with the aim of it being the one to distribute and market it around the world. It is already in advanced negotiations with some pharmaceutical companies and in contact with many of the largest pharmaceutical companies.

The clinical study of LAM561 was funded with more than €6 million by the European Union in the competitive H2020 program. LAM561 also has orphan drug designation for adults in both Europe and the US, and pediatric orphan disease designation and Fast Track designation in the US from the FDA.

Laminar has raised more than €50 million for the development of LAM561. In the form of capital, they managed to raise 3 million euros in 2021, 6 million euros in 2022 and 12 million euros in 2023. So far in 2024, they have already raised more than 3 million euros.

For more information on the capital increase round, you can visit the website www.laminarpharma.com or contact investors@laminarpharma.com

Image: David Roberto (Chief financial officer), Joe Dillon (Business Development Director), Javier Fernández (Business Development Manager) and Adrián McNicholl (Chief of clinical operations) at BioEurope Spring, last March 2024 in Barcelona, the main event that brings together biotechnology, pharmaceutical companies and service providers in Europe.