News and Events - Genetrix

20/3/2012
Genetrix forecasts annual revenues of €10 million as of 2014

The biotechnology holding will focus on the companies X-Pol Biotech and Coretherapix, with an investment of €10 million over the next two years.

Madrid, 20 March 2012. Genetrix foresees a turnover of more than €10 million in 2014, by which time and according to the Group’s forecast it will have launched several products in the market, based on the results of its recent research activity. The holding plans to invest €10 million during the 2012-2014 period to finance R&D, clinical trials and license agreements with leading pharmaceutical companies.

The announcement was made today at a press conference breakfast by Pilar de la Huerta, Chief Executive Officer of Genetrix, a private holding founded in 2001 as a spin-off of the National Center for Biotechnology (CNB), which has become a leading Spanish institution in the Life Sciences sector and a major player in its three main areas: Biotechnology, Medical Technology and Diagnostics.

Genetrix, which has invested over €36 million since it was founded, is currently made up by five different companies: X-Pol Biotech, Coretherapix, Axontherapix, Fénix Biotech and Biobide. In addition, the company is a shareholder in Tigenix, a listed company that signed a merger agreement with its subsidiary Cellerix last year.

As announced by Pilar de la Huerta, for the next two years Genetrix will focus most of its R&D and investment efforts on X-Pol Biotech, specializing in DNA tools for research and future personalized medicine, and Coretherapix, a company devoted to the development of a cell therapy for the treatment of patients with myocardial infarction who have subsequently developed heart failure.

In the case of X-Pol Biotech, the company has already reached a high level of development and is prepared for a license agreement with a leading multinational company in the DNA market, which could be signed in the first half of this year. According to Genetrix’s forecast, X-Pol Biotech is expected to provide the Group with €5 million in annual revenues, mainly from royalties from its flagship product, QualiPhi. QualiPhi is a new polymerase (an enzyme associated with DNA amplification) with features far superior to those of other products currently on the market. The aim of the company is for QualiPhi to become the new standard in the DNA amplification market, with the potential to become a benchmark in the market of next-generation sequencing, where the future of personalized medicine lies.

The X-Pol Biotech research programs are headed by internationally renowned Spanish scientists, such as Prof. Margarita Salas and Prof. Luis Blanco.

Furthermore, one of Coretherapix's two products is about to enter the human clinical trial phase. The first one is an allogeneic stem-cell product used to treat acute myocardial infarction and chronic heart failure. The second product is a cocktail of growth factors for the treatment of acute phase of infarction.

Ms De la Huerta highlighted the great potential of cell therapy for cardiac tissue regeneration after acute myocardial infarction. The results obtained in animals are extremely promising, as are those obtained in human patients by other research teams using an autologous procedure (the patient’s own cells).

De la Huerta cited the market figures for cardiac regeneration for the treatment of myocardial infarction and heart failure in the United States, which amounted to USD400 million and USD1.85 billion respectively in 2008. ‘Hence we are considering the possibility of signing a license agreement with a leading pharmaceutical company in 2014, by which time we will have obtained our first clinical results on efficacy,’ she announced.

Growing value

To quote Genetrix’s Chief Executive Officer, ‘We expect Genetrix to generate an annual revenue of more than €10 million over the next two years, based on income from X-Pol Biotech alone. Moreover, the value of Coretherapix will increase manifold once its product enters the clinical phase, so we expect the Group’s market value to quadruple over the next three years.’

The management team at Genetrix have been able to clinch deals with leading international companies, such as Cellerix (owned by Genetrix), which merged in February 2011 with Tigenix, a company listed on the Belgian Stock Exchange.

14/3/2012
Biobide demuestra que inhibidores de enzima quinasa disminuyen la formación de vasos cancerígenos en el pez cebra

La compañía biotecnológica BIOBIDE, integrada en Grupo Genetrix, ha demostrado que dos inhibidores de la enzima quinasa originan una marcada interrupción en la reproducción de vasos y células cancerígenas en el pez cebra. Este descubrimiento, publicado en la prestigiosa publicación científica Oncogene, es la primera evidencia del papel una determinada quinasa juega en el desarrollo vasos en tumores cancerígenos.
El descubrimiento se ha producido en el marco del proyecto europeo ZF-Cáncer, en el que participan BIOBIDE, Centro de Medicina Regenerativa de Barcelona liderado por el prestigioso científico Juan Carlos Izpisúa Belmonte (Presidente del Comité Asesor científico Biobide) y la empresa Galápagos.
En primer lugar, se realizó la selección de los compuestos de una biblioteca de la compañía Galápagos, BV, en el ensayo automatizado de inhibición de la angiogénesis en la plataforma de selección de alto rendimiento de Biobide. Se seleccionaron dos nuevos compuestos que se encontraron en el ensayo como inhibidores de la angiogénesis y se identificó la quinasa PhKG1 como diana. Finalmente se confirmó que los dos compuestos inhiben específicamente el proceso angiogénico de nuevos vasos, en oposición a la inhibición de la vasculogénesis en general.
La importancia del descubrimiento radica en su utilidad para el desarrollo de estudios de nuevos fármacos contra el cáncer que utilicen los inhibidores de la citada enzima, que se convierte en una nueva diana terapéutica antiangiogénica. Es decir, si se diseñan moléculas contra esa diana, éstas serán efectivas también para el tratamiento de enfermedades oncológicas.
Según explican desde BIOBIDE, el objetivo del proyecto ZF-Cáncer ha sido desarrollar un ensayo para seleccionar y evaluar nuevas moléculas de la industria farmacéutica en el campo del cáncer determinando, por una parte, si éstas pueden ser efectivas para pasar a fases más avanzadas de desarrollo (selección) y, por otra, determinar dónde están actuando, “lo cual es muy importante para conocer nuevas dianas terapéuticas”.
En este sentido, recuerdan que el pez cebra constituye un modelo muy interesante, “ya que permite un cribado de alto rendimiento de coste efectivo que hace que las fases posteriores del descubrimiento de nuevos fármacos se acorten y sean menos costosas”. En este sentido, los resultados del proyecto ZF-Cáncer han evidenciado una vez más el valor del pez cebra como modelo para técnicas de cribado de alto rendimiento.
El pez cebra destaca por una alta coincidencia genética con los seres humanos, además de que sus embriones son transparentes y se desarrollan en 24-48 horas. Estas cualidades permiten estudiar los efectos que se producen en estos animales cuando se les administran nuevos compuestos, con menores costes y en unos tiempos sensiblemente inferiores que otros modelos animales disponibles.

8/11/2011
Zebrafish used as research model to test drug efficacy against cancer

The biotechnology company BIOBIDE, part of the Genetrix Group, has developed a method using the zebrafish animal model to measure the pharmacological efficacy of new medications in the research stage for treating cancer. This new trial, in which two important pharmaceutical companies have already expressed interest, strengthens Biobide’s support for the zebrafish. The growing number of applications for the zebrafish in the Drug Discovery and Development process has increased the demand for this type of services. This is a trend that is expected to continue in the future.

Specifically, Biobide has developed a trial that makes it possible to detect a compound’s capacity to inhibit angiogenesis (the formation of new blood vessels from those already existing). This physiological process is fundamental for tumor growth in metastasis. This process is involved in other pathologies, such as diabetic retinopathy and psoriasis, among others; this is why it is important to have a method to validate compounds that might affect it.

This anti-angiogenesis trial, which is totally automated on Biobide’s High Throughput Screening platform and already available to their clients, was validated using more than 230 compounds with very satisfactory results. It should be pointed out that this trial is the result of Biobide’s participation in the Seventh European Community Framework Program, which promotes the use of animal models in Drug Discovery processes.

New lines of research in Oncology

As a result of the advances made in their research, Biobide was invited to participate in the “European Cancer Cluster Partnering” (ECCP), a European event dedicated to oncology held in the city of Toulouse. There, Scientific Director Carles Callol Massot presented the work and advances made by Biobide in the area of oncology.

Callol also discussed the possibilities presented by the use of zebrafish embryos in the validation of new therapeutic targets in the development of new drugs to fight cancer.

The zebra fish stands out for having a greater than 85% genetic match with humans, and the fact that its embryos are transparent and develop in 24-48 hours. These characteristics enable us to study the effects of new compounds administered to these animals at a lower cost and considerably faster than with the other animal models available.

Biobide considered their participation in the “European Cancer Cluster Partnering” to be a very positive experience, as they were able to meet with and present their research lines to biotechnology and pharmaceutical companies from the United States and Europe. These companies have already expressed interest in the company’s work in the area of oncology and the role of the zebrafish applied to Drug Discovery and Development.

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30/3/2011
X-Pol Biotech launches QualiPhi©, the future standard for DNA amplification and an essential tool in the development of personalised medicine

X-Pol Biotech, a company that is part of the Genetrix Group, which was founded in partnership with Professor Luis Blanco and was later joined by Professor Margarita Salas, both from the Severo Ochoa Molecular Biology Centre (a joint facility run by the Universidad Autónoma de Madrid and the state funded CSIC agency), announces the forthcoming launch of a new product: QualiPhi©.

QualiPhi© is a combination of an optimised version (chimera) of the bacteriophage Phi29 DNA polymerase and a new formulation, which improves the responsiveness of a procedure extensively used in molecular biology laboratories: DNA amplification.
The amplification potential of QualiPhi© is between 1,000 and 10,000 times greater than that of the enzymes currently in use, allowing scientists to obtain sufficient DNA to carry out numerous laboratory tests, such as genomic and clinical analysis or forensic studies, even from the smallest initial specimen.

DNA amplification is an essential element in the development of personalised medicine, an innovative research field in which individualised and optimal treatments can be generated for each patient, based on an understanding of their individual genetic characteristics. For personalised medicine to become universal, new and more powerful tools are needed to help reduce the costs involved in identifying the drugs and dosages best suited to each patient.
The current standard technique for amplifying large quantities of high-quality DNA uses the natural version of the bacteriophage Phi29 DNA polymerase, which has recorded annual global sales of approximately $250 million over the last decade. This DNA polymerase was identified by Professors White and Chambers in 1984, who described its peculiar amplification properties in 1989, the same year that it was patented. This patent has been commercially exploited by General Electric.
Now the improved product (QualiPhi©) has been licensed to X-Pol Biotech, a Spanish company that forms part of the Genetrix Group and has worked for many years in partnership with CSIC, and has thus been granted global production and marketing rights.

The experimental research into modifying the natural Phi29 DNA polymerase, on which QualiPhi© is based, was carried out by Miguel de Vega, José Mª Lázaro, Mario Mencía, Luis Blanco and Margarita Salas, the results of which were published in September 2010 in the prestigious US scientific journal Proceedings of the National Academy of Science (vol. 107, p. 16506-16511). The results had a significant impact in both the academic world and amongst biotechnology companies working in the field of DNA amplification.

X-Pol Biotech expects sales of QualiPhi© to generate revenues of one million euros in 2011, a figure that is set to grow exponentially over forthcoming years. Genetrix Group, the parent company of X-Pol, has stated that the launch of QualiPhi© confirms the success of its strategy of stable collaboration with the Spanish academic world, and believes that QualiPhi© will play a decisive role in the success of its business plan, monetising the support it has given Spanish Biotechnology over the last ten years.
According to Professors Luis Blanco and Margarita Salas from the "Severo Ochoa" Molecular Biology Centre, "the applicability of the Phi29 DNA polymerase as a tool for DNA amplification has been a huge international success over the last decade. We are convinced that the new version of the enzyme, QualiPhi©, will become the new standard for DNA amplification at molecular biology laboratories around the world."
"We are delighted to add this product to our portfolio," said Pilar de la Huerta, CEO of Genetrix and X-Pol Biotech, "not only because of its market potential, but because we see this as an example of how good science is being done in our country, and of the potential that collaborations between the business world and academia can have.

QualiPhi© is a product that has emerged from research and development carried out at the Severo Ochoa Molecular Biology Centre by Professors Margarita Salas and Luis Blanco, and has the potential to become a global mass market product. This is a great example of what can be achieved with a firm commitment to innovation."

25/2/2011
TiGenix announces proposed combination with Cellerix

Combination will create the European cell therapy leader with two marketed products and a promising pipeline.

Leuven (BELGIUM) / Tres Cantos (SPAIN, February 25, 2011 - TiGenix NV (NYSE Euronext Brussels: TIG) and Cellerix SA a privately held company based in Spain, announce that the two cell therapy-focused biotechnology companies and Cellerix’shareholders have entered into a contribution agreement to combine the operations of both companies by means of a share for share exchange. The combination of TiGenix’ marketed product portfolio and proprietary pre-clinical stem cell platform with a clinical stage allogeneic stem cell platform and pipeline is part of TiGenix’ external growth strategy and further strengthens its position as an internationaleading player in the fast-growing field of regenerative medicine and cell therapy.

TiGenix also announces its intention to raise approximately EUR 15 million through a public rights offering, of which EUR 10 million has already been secured via precommitments from certain existing shareholders and new investors. Together with a EUR 18 million capital increase by Cellerix investors prior to the transaction, the combined group is expected to have a proforma cash position of at least EUR 33 million at closing.

30/9/2010
Genetrix and the Botín Foundation create Axontherapix, a company dedicated to the development of a new anti-Parkinson treatment

Genetrix S.L., the parent company of one of the largest biotechnology groups in Spain, has founded Axontherapix after reaching an agreement with the University of Seville, the Virgen del Rocío University Hospital and the Botín Foundation to further develop the research undertaken over the past few years by the group led by Dr. López Barneo at said hospital.
The experiments performed by this research group have shown the existence of a population of stem cells in a gland in the neck, specifically in the carotid artery, which have produced highly promising results in the treatment of animals with Parkinson's disease.
Axontherapix's goal is to develop an effective treatment for Parkinson's disease in humans on the basis of these preliminary results. The company intends to speed up the pre-clinical research program to reach clinical trials as soon as possible.
Axontherapix, which is the first initiative of the Genetrix Group in Andalusia, will require an investment of close to six million euros in its first three years and will result in the creation of around 20 new, highly qualified jobs.
Eduardo González, President of Genetrix, has stated that “We firmly believe that the foundation of Axontherapix is a good example of what can be achieved by a public-private partnership between institutions such as the Regional Government of Andalusia, the University of Seville, the Virgen del Rocío Hospital, the Botín Foundation and the Genetrix Group, which is committed to the development of new business initiatives to convert the state-of-the-art research undertaken in our country into a profitable reality.
Although Parkinson's disease has become a major socio-health problem, we are convinced that, building on the results obtained by Dr. Barneo's research group, we will be able to develop a new treatment that will offer one more alternative to those patients suffering from this disease."
With this initiative, the Genetrix Group strengthens its commitment to the therapeutic potential of stem cells, a field in which it currently has two companies, namely Cellerix, which focuses on the development of medications for the treatment of autoimmune diseases such as rheumatoid arthritis, and Coretherapix, which develops treatments to stimulate regeneration of the heart in patients who have suffered a myocardial infarction.

26/9/2010
ADE Gestión Sodical se incorpora al accionariado de Fénix Biotech

Fénix Biotech S.L. ha hecho pública la incorporación a su capital social de ADE Gestión Sodical SGECR, S.A., sociedad gestora de entidades de capital riesgo participada por Ade Financiación, S.A. y las Cajas de Ahorro de Castilla y León.

ADE Gestión Sodical SGECR se une, de esta manera, a los socios fundadores de Fénix Biotech S.L., creada por las compañías biotecnológicas Genetrix y Advancell. La inversión se ha instrumentado a través del fondo de inversión ADE FINANCIACION CAPITAL SEMILLA FCR por una cuantía total de 180.000 euros, lo que supone una valoración total de la compañía de tres millones de euros.

Fénix Biotech S.L. centra su actividad en la investigación, el desarrollo y la comercialización de soluciones terapéuticas basadas en nanopartículas que permitan el tratamiento de enfermedades monogénicas. Este tipo de enfermedades, como la fibrosis quística o la epidermólisis bullosa, se producen por el mal funcionamiento de un gen, lo que provoca serias complicaciones a los afectados y, en algunos casos, puede resultar mortal.

El principal fin de este proyecto, y lo más novedoso, es precisamente encontrar un sistema innovador que permita la administración de un gen a través de la nanomedicina, con el fin de poder aplicar este tratamiento. Es por este motivo que este proyecto contará con los conocimientos en nanomedicina de Advancell, que ha inaugurado recientemente su laboratorio en esta materia en Santiago de Compostela.

Con la inversión realizada, Fénix Biotech se garantiza la disponibilidad de fondos para desarrollar el proyecto hasta la fase de investigación preclínica, para, a continuación, poder realizar los primeros estudios en pacientes.

Eduardo González, Presidente de Genetrix, ha declarado: “Creemos que la inversión realizada por ADE Gestión Sodical SGECR es un ejemplo de colaboración público-privada que contribuirá al desarrollo en Castilla y León de un sector de futuro como es la biotecnología, que busca el desarrollo de nuevos medicamentos y tratamientos capaces de ofrecer a los enfermos alternativas inexistentes hoy en día”.

Para el Presidente de Advancell, Davide Sirtoli, “la importancia de este proyecto radica en que puede abrir una nueva vía para el tratamiento de enfermedades monogénicas, que actualmente no cuentan con ninguna solución eficaz y que afectan enormemente a la calidad de vida de quienes las padecen”.

Fénix Biotech estará ubicada en el Parque Tecnológico de Boecillo (Valladolid.

17/12/2009
Genetrix secures €9 million in financing

Genetrix has announced in a press release that it has closed a €9 million financing round which has been subscribed to by the group's current partners and by the investment firm Casticapital.

As part of the transaction, Casticapital becomes a new shareholder and has assumed a position on the board of directors, states Genetrix, also explaining that, after the closing of this round of financing, the group has participated in two of the three main capital increases in the biotechnology sector in 2009.

In fact, this investment round can be added to those that have been recently closed by the companies Cellerix and Biobide, affiliates of the Genetrix Group, for the sums of €27 million and €3 million respectively.

After the operation announced today, the biotechnology group’s companies counted together have secured capital reaching a total value of €39 million, exceeding €80 million in private investments in the last 5 years.

Genetrix was advised by 'La Caixa’ Corporate Finance in its search for investors interested in making cash contributions that will be allocated to strengthening its commitment to subsidiaries such as Coretherapix, focussed on cell therapy for regeneration of the heart post-heart attack.

The money received will also be allocated to another group company called X-Pol, which this month announced the launch of “Magniphi®”, its first product on the market, intended for research use in laboratories and with an estimated market in Europe of €750 million annually.
The new funds will also help to continue financing preclinical programmes and those in the early research phase, being carried out by the rest of the companies within the group.

According to the chairman of Genetrix, Eduardo González, the capital injection shows the "strong" support of the shareholders “in such a difficult economic climate". “The group is considered by the market to be an extremely attractive investment, thanks to the favourable progress of the companies in its portfolio”, he added.

4/12/2009
X-Pol Biotech launches its product MagniPhi®

X-Pol Biotech, a company within the Genetrix Group, founded in May 2008 with Prof. Luis Blanco, announces the forthcoming commercialization of its MagniPhi® product (Phi29, DNA polymerase).

Research conducted by the company, and led by Prof. Margarita Salas and Prof. Luis Blanco has led to the development of MagniPhi®, a high quality and high purification grade Phi29 DNA polymerase. These characteristics differentiate the product from other amplification enzymes commercialized by other companies in the sector.

The main target users of MagniPhi® will be scientists focused on basic research, for use in DNA amplification and for the labelling and modification of 3´ ends.
In parallel with the launch of its first product, X-Pol Biotech will continue its research and development of DNA polymerases and their applications in biotechnology. This research will provide new products that will be launched by the company during 2010 and beyond.

X-Pol Biotech’s long term mission is to become an international reference company in the development and exploitation of polymerases. To reach that goal, X-Pol Biotech counts on professionals with a extensive and recognised experience in this field.

12/11/2009
Cellerix raises €27 million in a first closing

Cellerix, a product-focused biopharmaceutical company which develops innovative medicines based on cell therapy, today announced the successful first closing of its financing round, raising €27 million. Participants in this capital increase included current shareholders and a select group of new investors. Cellerix completed another financing round for €27.2 million in September 2007.
This round was led by the leading life science venture capital funds YSIOS Capital Partners, LSP (Life Science Partners) and Ventech. Grupo Genetrix also played a key role in the deal, and two of Cellerix’ current investors (Roche Venture Fund and Novartis Venture Fund) have significantly increased their stake. Furthermore, A&G and Cellerix’ management team have also subscribed to the capital increase. Florent Gros (representing Novartis) and a second representative from Genetrix, still to be designated, will join Cellerix board of directors.
The new Cellerix shareholders include Bankinter S.A., Capital Riesgo Madrid and JV Risk Technologies S.L.
Joël Jean-Mairet, Cellerix’s Chairman has commented “The size of this round and the quality of the participants show investor’s confidence in the potential of Cellerix and its management team. I believe Cellerix is becoming a world reference in the emerging cell therapy area as it moves towards the market launch of its first product backed by a very interesting pipeline”.
The funds raised by Cellerix in this financing round will be used for funding the completion of the clinical development of its lead product - Ontaril® - and preparation for its market launch in H2 2011. The proceeds of the round will also be used for funding the development additional products in the pipeline, including allogenic programs for the treatment of the autoimmune diseases.
Eduardo Bravo, Cellerix’ CEO added “This capital injection will allow us to continue with the development of all of our programs following the planned schedule, as well as enabling us to defend and increase Cellerix’ leading position in the field, helping us to become the first company to commercialise a cell therapy medicine in Europe”.

22/9/2008
Genetrix, official sponsor Biospain 2008

José Torres Hurtado, Mayor of Granada, welcomed the participants of Biospain and thanked the organization for having chosen Granada as the host city of Biospain 2008. Eduardo González, Genetrix´s President conveyed his pride in participating in Biospain 2008, adding that he is convinced that this event will be the main showcase of Spanish biotechnology worldwide. He also stated that he considered the support of Granada´s Administration as key to Biospain´s success in improving Spanish competitiveness.