Oncoheroes Biosciences Inc. (“Oncoheroes”), a biotech company exclusively focused on the development of innovative medicines to treat cancer in children and adolescents, today announced that it has closed the first investment with Dreamers Startup Ventures. Under the terms of the agreement, Dreamers Startup Ventures has committed to invest up to $1.1M, disbursed in installments subject to Oncoheroes milestone achievements in the coming months.
The agreement goes beyond a traditional VC investment. Ricardo Garcia, Oncoheroes’ CEO, stated: “This is a great opportunity for Oncoheroes to take advantage of Dreamers Startup Ventures hands-on approach to support our efforts in all directions. We feel honored and acknowledge the responsibility of being the first investment of Dreamers Startup Ventures in the biotech sector.”
Cesare Spadoni, Oncoheroes' Chief Operations Officer added: “This funding is an important financial achievement for Oncoheroes and enables us to focus on continue working on the clinical development plan for volasertib, our first asset in-licensed from Boehringer Ingelheim, and identify two new assets and complete our pipeline”.
Gorka Fius, cofounder of Dreamers Startup Ventures further notes: “From the beginning, we realized that Oncoheroes holds great potential as a biotech company, which made it a very strategic investment for us. The first reason that led us to invest in Oncoheroes is the uniqueness of being 100% focused on developing drugs for pediatric cancer, an estimated niche market of $5-10B/year. We also value the multi-asset portfolio strategy that contributes to diversifying our investment risk and the fact they already have volasertib, a very strong drug candidate in their pipeline. Moreover, Oncoheroes' first-class team has wide expertise over all of the drug development spectrum, a clear strategy, and a very well-defined road map. Finally, we are confident that we are diminishing the risk of our first operation in the biotech sector by investing in the rare disease space, where normally the cost to develop a drug is lower and the time to reach the market is faster.”
About Oncoheroes Biosciences Inc.
Oncoheroes is a ground-breaking biotech company exclusively focused on the discovery and development of better drugs for children and adolescents with cancer. Our vision is to deliver benefits to young cancer patients and create value in the process. The company is headquartered in Boston, US, with a discovery lab in Barcelona, Spain. Oncoheroes is actively looking for in-licensing opportunities in the pediatric oncology space while working to generate new proprietary assets for a number of pediatric cancer indications with high unmet medical needs. The company was co-founded by Ricardo Garcia (serial entrepreneur), Cesare Spadoni (drug development professional), Marc Goldberg (savvy Life Science VC investor) and Marco Muñoz (seasoned fundraiser). The management team is formed by drug development and industry professionals in the US and Europe and the company has already established strong links with the major international pediatric oncology network as well as the childhood cancer community at large.
For more information please visit: oncoheroes.com
About Dreamers Startup Ventures
Dreamers Startup Ventures, based in Bilbao (Spain) and Boston (USA), is led by entrepreneurs Jose Antonio Borge, Eneko Knörr and Gorka Fius, as well as by a group of private investors such us Albia Capital who complete a team with extended experience on inception, management, transformation, acceleration and exit of companies. They support startups in early-stage with global ambition and seek to position themselves in markets in a competitive way. With the participation in technology companies both in Spain and the USA, Dreamers Startup Ventures is positioned as a leader in establishing connections between startups on both sides of the Atlantic, facilitating its rapid growth and completing its strategic plan for future investment.
For more information please visit: http://dreamers-vc.com/