Eversheds Sutherland Spain has advised the EIC Fund on the financing round of ADmit Therapeutics. Headquartered in Barcelona, Spain, Admit Therapeutics is a biotechnology company founded at the end of 2017 as a spin-off from the Bellvitge Biomedical Research Institute (IDIBELL). The company is focused on the development and commercialization of a new early detection technology for Alzheimer’s disease (AD).
This successful financing round saw the participation of prominent investors, including the EIC Fund, Clave Capital, Alzheimer’s Drug Discovery Foundation (ADDF), Lavanda Venture, Ship2B, and WA4Steam.
This transaction is in line with the long-term collaboration agreement between Eversheds Sutherland and the European Innovation Council Fund (EIC Fund), in which the European Investment Bank (EIB) acts as investment advisor to the fund, and the firm is advising the EIC Fund on a recent strategic investment in a Spanish company selected from 21 European jurisdictions as part of the EIC Accelerator Program. The EIC Accelerator Program aims to identify and support high-impact innovative companies within the European Union.
Leading the Eversheds-Sutherland team in Spain were Sixto de la Calle Peral, head of private equity, María Ramalle Quiñones, legal director and Mercedes Olmedo González, associate of the M&A practice.