Genmedica raises EUR 12M in B round

Genmedica Therapeutics S.L. (Barcelona, Spain) raised EUR 12 million ($15.5 million) in a series B round from new investor Asclepios Bioresearch. Genmedica is developing dual inhibitors against pathways of oxidative stress and inflammation for a variety of diseases. Its lead compound, GMC-252, is in Phase I testing to treat Type II diabetes. Phase II testing is slated to begin in 2014. Genmedica also plans to begin clinical development of the product in other disease indications next year. GMC-252 inhibits NF-kappa B (NF-kB) and cyclooxygenases (COX). ...