First divestment for Asabys: it sells 'biotech' Origo

Venture capital firm Asabys Partners has executed its first divestment in its portfolio companies with the sale of the Galician biotechnology company Origo Biopharma, based in Barcelona and also financed by the Xunta de Galicia through XesGalicia, to the Belgian company Agomab Therapeutics.

Asabys Partners, an investment group founded by Josep Ll. Sanfeliu and Clara Campàs and participated by Alantra, entered the capital of the Galician biotechnology company through its Sabadell Asabys Health Innovation Investments fund in June 2020. Origo Biopharma, then in the seed phase, required the necessary investment to develop the clinical phase for Crohn's disease treatments and the preclinical phase for idiopathic pulmonary fibrosis, a process for which it has had the support of Asabys. Origo Biopharma, which was founded in 2017 by Julio Castro and GalChimia ---a center of excellence for chemical research in Galicia---, is led by Ramon Bosser, CEO and shareholder of the company.

The divestment corroborates, according to sources from Asabys, the financing strategy with the selection of good scientific projects that allows for the creation of stable work teams and the development of solid assets to provide solutions to unmet medical needs in certain therapeutic areas.

With a presence in medical devices, biotechnology, and digital therapy solutions, Asabys Partners has invested in 12 companies for a total of 87 million euros, through the Sabadell Asabys Health Innovation Investments fund, since its launch in 2019.

The acquisition of Origo Biopharma, which has a research center in Touro (Galicia) and corporate offices in Barcelona, strengthens Agomab's position in the development of drugs targeting growth factors for disease modification, as the Belgian firm will integrate Origo's small molecule development platform, its team, and its R&D facilities.

Origo's CEO, Ramon Bosser, highlights the integration into the Belgian biotechnology company as an opportunity "to accelerate the development of our programs by being part of a highly committed and competent organization," with R&D centers in Italy and Spain.