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Oryzon completes funding

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by Uta Mommert

Barcelona-based epigenetics expert Oryzon Genomics has closed a debt funding round of €10.5m, bringing the total money raised since last year to €27m. The funds will serve to advance the company’s two LSD1 inhibitors in cancer and neurodegeneration.

The financing round has been subscribed by several Spanish commercial banks in the form of long term loans at the current interest rates in the Spanish bank market. “These funds complement the capital increase that the company made upon its listing on the Spanish Market, and are a key component to our strategic Financial Plan,” said Enric Rello, CFO of Oryzon. “These funds will be important to further advance our clinical programmes in Alzheimer’s disease and in other devastating diseases.”

Oryzon Genomics has currently two programmes in clinical stage with different LSD1 inhibitors in cancer and neurodegeneration. Recently, the biopharmaceutical company started a Phase I trial of its oral LSD1-MAOB dual inhibitor ORY-2001. With a successful study outcome, ORY-2001 is expected to proceed to a Phase II study in Alzheimer’s disease patients in early 2017.

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