Biotech Company Minoryx expands to Belgium
Our expert's opinion
"Spanish company Minoryx, founded in 2011 in Barcelona, will launch a new office in Belgium this month. As a clinical stage biotech company, they develop new therapies for X-ALD, a genetic disease characterized by progressive neurological deterioration with no available pharmacological treatment. They will recruit several R&D profiles to begin with. Will this bring us new opportunities?"
Alaana Pirolo, Associate Consultant
Minoryx Therapeutics Extends Activities in Belgium
Minoryx Therapeutics (Barceona, Spain), a company specializing in the development of new drugs for orphan diseases, has announced that it has created a fully owned subsidiary in Belgium. The new office, located in Brussels South Biopark (Charleroi), is due to launch operations this month.
A company press release reports that the Belgian subsidiary "will leverage the local biotech ecosystem to lead the research and development of MIN-102 in new orphan central nervous system (CNS) indications and will play an important role in the development of the company". Minoryx is recruiting several R&D positions for its Belgian site.
Minoryx recently announced a major Series B funding round led by the Belgian Fund+, joined by the public Belgian players SFPI-FPIM, S.R.I.W. and Sambrinvest, in addition to all Series A investors (Ysios Capital, Kurma Partners, Roche Venture Fund, Idinvest Partners, Chiesi Ventures, Caixa Capital Risc and HealthEquity). The present extension of the company will further reinforce the link between Spain and Belgium, in particular with the Walloon ecosystem of the Brussels South Biopark.
Minoryx’s MIN-102 is a novel, orally bioavailable and selective PPAR gamma agonist with a superior profile for central nervous system-related diseases and good in-vivo efficacy. Phase 1 studies confirmed that MIN-102 is well tolerated and is able to cross the blood brain barrier engaging PPAR gamma in the CNS.
MIN-102 is currently in a phase 2/3 clinical trial for the treatment of adrenomyeloneuropathy (AMN), which completed patient randomization ahead of schedule. The study is being conducted in seven European countries as well as three US states. Results of the study are expected at the end of 2020.
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