The 'biotech' Oncoheroes seeks one million euros to cure childhood cancer

The biotechnology company Oncoheroes Biosciences is preparing for its first clinical trial to cure childhood cancer, the leading cause of death by disease in Spain for children over five years old. Based in Boston and Barcelona, the company, valued at more than 22 million euros, seeks to raise one million euros to cover the costs of the study through the issuance of shares and donations. So far, it has already secured more than half of the necessary resources.

Founded in 2017 by the Catalan entrepreneur Ricardo García and the Italian scientist Cesare Spadoni, both with children affected by this disease, Oncoheroes will analyze one of the drugs in its portfolio, Volasertib, with the aim of verifying its therapeutic potential in five types of pediatric cancer: Ewing's sarcoma, neuroblastoma, medulloblastoma, rhabdomyosarcoma, and diffuse midline glioma (including diffuse intrinsic pontine glioma). The study will be led by the German hospital Hopp Children's Cancer Center Heidelberg and will include about 20 centers in Europe, the United Kingdom, and Australia. The drug is expected to be evaluated in combination with chemotherapy in about a hundred children and adolescents who have already exhausted all therapeutic alternatives.

Oncoheroes has opened a round on the online investment platform Capital Cell, with the issuance of more than 15 million shares to become a partner in the company. Shares can be acquired for 1.67 euros per share, with a minimum investment of 1,000 euros. "Investing in pediatric oncology is not only an economic opportunity but also a commitment to the well-being of future generations and a cause that deserves everyone's attention and support," Ricardo argues.

Likewise, direct donations for the clinical trial can be made through the Olivares Foundation, also promoted by a father who lost his son to cancer. In 2021, it was one of the organizations that provided funding for the advancement of Volasertib. Until this new round, the biotech has raised more than 11 million euros from private capital, grants, and foundation aid. Its first investor was the Basque Dreamers Startup Ventures. The workforce stands at ten employees.

Despite the incidence of childhood and adolescent cancer, with 400,000 new cases diagnosed each year worldwide ---about 1,500 in Spain---, it is considered an orphan disease, with only seven drugs specifically designed for children and adolescents, compared to more than 200 for adults. "We continue to lose 250 children worldwide to childhood cancer and many survivors experience lifelong sequelae. It is unacceptable," says García.

The founders of Oncoheroes met after creating their own non-profit foundations to raise resources for pediatric cancer research. They decided to establish their own company after realizing the need to lead projects in this medical area so that they eventually reach the market. In García's case, his son Richi was diagnosed with high-risk medulloblastoma, one of the most aggressive childhood brain tumors, at the age of six. His family moved to Boston and he managed to survive, although, after many surgeries, radiation, and chemotherapy, he will have lifelong sequelae due to the lack of more effective and less toxic treatments. His partner, Spadoni, had a daughter who was diagnosed with advanced-stage cancer and, after several rounds of chemotherapy, she died.

Located in the PCB

Oncoheroes was one of the first eleven startups to be part of BCN Health Booster, the new accelerator of the Barcelona Science Park (PCB). The company has its headquarters in the United States, but in the Catalan capital, it has located its only subsidiary, 100% owned by the parent company. From Barcelona, the company focuses on early-stage research into new therapies, while from Boston it is dedicated to managing all phases involving the initiation of clinical trials and the necessary regulatory processes until drug approval. In addition to Volasertib, it has Dovitinib, Stenoparib, and 2HIT in its portfolio. Initially, the biotech had a laboratory in the PCB where it carried out the first phases of its research in the development of a potential new drug. Once achieved, Oncoheroes dispensed with the laboratory, as it saw that it was more efficient to proceed through collaborations with other laboratories.