SOM Biotech Is Launching an Indiegogo Crowdfunding Campaign for Pediatric Rare Diseases
SOM Biotech has launched a crowdfunding campaign to raise funds for five new early-stage R&D projects in pediatric rare diseases. These diseases are Cystic Fibrosis, Duchenne Muscular Dystrophy, Gaucher Disease, Niemann Pick Disease Type C, and Osteogenesis Imperfecta (Brittle Bones Disease). This ambitious move comes in light of growing optimism of its current clinical programs. SOM Biotech seeks to raise at least 300,000 USD$ in donations within a 2-month period.
Barcelona, Spain, December 3, 2015 (Newswire.com) - SOM Biotech, with headquarters located at the Barcelona Science Park (PCB), is announcing its very first crowdfunding campaign for the purpose of initiating new R&D projects, related to pediatric rare diseases field. The diseases to be investigated are Cystic Fibrosis, Duchenne Muscular Dystrophy, Gaucher Disease, Niemann Pick Disease Type C, and Osteogenesis Imperfecta. The company plans to raise at least 300,000 $USD, which would be divided evenly among the five different pediatric rare diseases.
Crowdfunding & New Initiative in Pediatric Rare Diseases
Recently, SOM Biotech has completed a Phase IIa clinical trial for Transthyretin Amyloidosis (ATTR) with successful results. Optimistic results obtained from this study, along with another clinical program in Huntington´s Disease, were primary motivations in starting this new initiative. In addition, almost 50% of rare disease patients worldwide are children. Pediatric rare diseases with ongoing unmet needs include:
1. Cystic Fibrosis
2. Duchenne Muscular Dystrophy
3. Gaucher Disease
4. Niemann Pick Disease Type C
5. Osteogenesis Imperfecta
With the aspirational goal of raising at least 300,000 $USD, funding will be used to investigate new therapeutic options for these 5 pediatric rare diseases. The amount will be allocated evenly to each pediatric rare disease program, funding the initial stages of drug repurposing identification to reach the clinical stages of development. At present a list of reference compounds for each pediatric rare disease program has been internally generated and scientifically-evaluated, with plans of identifying new and better therapeutic candidates. SOM’s commitment is to advance further in the development of any promising drug to reach the market as soon as possible.
The Crowdfunding campaign takes place within a 2-month period starting from December 3rd, 2015, and will end on February 2ndst, 2016. The chosen platform is the American-based, yet globally- exposed, Indiegogo where funding for all campaigns can be made from public rewards-based donations. Through there SOM Biotech´s campaign will be visible worldwide to various individuals and communities, interested in making a difference for pediatric rare diseases. Given the successes of its clinical programs and the support provided by various organizations, including the Spanish Federation of Rare Diseases (FEDER), senior management is confident of an outstanding performance and the pursuit of long-desired projects.
About SOM Biotech
SOM Biotech Ltd. is a clinical-stage biopharmaceutical company based within the Barcelona Science Park, founded in 2009. The company´s mission is to conduct drug identification, experimental demonstration, intellectual protection, clinical proof-of-concept and licensing of new applications and medical indications for previously marketed drugs (repositioning or reprofiling). Identification is performed using a proprietary computational virtual screening platform. SOM has an extensive pipeline of products under development ranging from rare diseases (TTR amyloidosis, Huntington's disease and glioblastoma) to other therapeutic areas (Alzheimer's disease and benign prostatic hyperplasia).
SOM Biotech won the 2013 Entrepreneur XXI Growth Award in biotechnology, an initiative for innovation projects promoted by "la Caixa" Bank jointly with the Ministry of Industry, Energy and Tourism, through ENISA. These awards are recognized as one of the most consolidated initiatives to support entrepreneurship in Spain.
For further information, please visit the company´s website.