Laminar Pharma incorporates OK Ventures as new shareholder

Laminar Pharma incorporates OK Ventures and Universal Beach Hotels as new shareholders and opens a round of capital to complete its phase 3 clinical study for brain tumour treatment

• The Majorcan company incorporates the President of OK Ventures Othman Ktiri and the CEO of Universal Beach Hotels Yannik Erhart as shareholders and opens a new round of capital
• The biotechnology company, nominated in two categories of the Cepyme awards, redoubles its efforts in the fight against cancer

The biotechnology company Laminar Pharma has incorporated entrepreneurs Othman Ktiri, President of OK Ventures into its list of shareholders, venture capital belonging to the OK Group business holding thanks to the mediation of the Singular Bank Corporate Advisory Group team, and Yannik Erhart, CEO of the hotel company Universal Beach Hotels.

After raising more than 6 million euros in 2022, this new round reinforces and redoubles Laminar Pharma’s commitment and effort in the fight against cancer. After incorporating Ktiri and Erhart as shareholders, the Spanish company faces a 2023 that should go down in history thanks to the consolidation of several projects. Proof of this is the recent nomination of the biotechnology company as a finalist in two Cepyme Awards categories, due to take place on 28 March: ‘Best SME entrepreneurial project’ and ‘best SME technological innovation’.

Othman Ktiri says he is “very proud to support a Majorca-based biotechnology company in their tireless work developing medicine to treat cancer. A transformative project that generates value and has a definite positive impact on society – objectives shared by OK Ventures”. Yannik Erhart says that “Laminar Pharma is in the final sprint in the race to bring market its first drug to fight brain cancer. As Majorcan entrepreneurs, we want to support Laminar in this important step.”

New round now open

Without taking a single break in their battle to fight cancer, Laminar Pharma has opened a new round of financing to reach the estimated 15 million euros needed to achieve marketing approval of its phase 3 clinical study in 2024, through its drug LAM561, used to treat glioblastoma (the most frequent malignant brain tumour). The drug aims to extend and improve patients’ lives and it is already being tested on human patients in hospitals in Spain, France, Italy and the United Kingdom. If all goes according to plan, companies in Europe will be able to apply for conditional sales authorization within 12 months.

CFO of Laminar Pharma David Roberto states: “We appreciate the trust received from Othman Ktiri and Yannik Erhart as they become part of the 1800 + shareholders of the Laminar Pharma family. This shows the growing interest of the Balearic Islands’ investment ecosystem in science and research companies, and we greatly appreciate this”

About Laminar Pharmaceuticals

Laminar Pharmaceuticals (Laminar) is a Spanish biotechnology company created in 2006, committed to translational healthcare research, for the rational design and development of drugs to treat cancer and other pathologies in the form of synthetic fatty acids considered “First-in-class Health Solutions” and based on a novel technology, Melitherapy (MLT or Membrane Lipid Therapy). Laminar controls all processes, from the rational design of molecules to clinical trials leading to the launch of a new drug, with constant investment in R&D and high-quality standards. They are currently based in Majorca (Spain) with a subsidiary in Massachusetts (USA).

About glioblastoma

Glioblastoma (GBM) is the most common primary malignant brain tumour and accounts for nearly 50 percent of all gliomas and approximately 25 percent of all primary malignancies of the brain and CNS. The incidence of GBM in Europe currently exceeds 25,000 new cases each year, rising to more than 100,000 cases annually worldwide. The prognosis of GBM patients is very poor, with a median survival of about 14.5 months despite optimal chemoradiation treatment. About 15% of patients survive two years after diagnosis and about 4% survive five or more years. In this scenario, there is a pressing need for new therapeutic alternatives offering safe and efficient clinical benefits.

About LAM561

LAM561 (2-hydroxyoleic acid) is a synthetic fatty acid and the company’s most advanced R&D product. It can be taken orally and is able to reach brain cells across the blood-brain barrier. This drug alters the plasma membrane composition of cancer cells, reducing the activity of certain membrane-associated signalling proteins known to promote tumour growth. LAM561 is nearing completion of its final phase of clinical development and has shown promising preliminary activity in the treatment of aggressive brain tumours, such as glioblastoma.