Selected Entrepreneurship – Week 20

Spain’s biotechnology sector continues its impressive momentum as European investors increasingly back precision medicine ventures targeting unmet oncology needs. The latest beneficiary is Adaptam Therapeutics, which has secured €3 million in pre-seed funding led by Criteria Bio Ventures to advance its novel approach to cancer immunotherapy. The Barcelona-based startup is developing therapies that target immune cells helping tumours evade treatment, addressing one of oncology’s most persistent challenges. This funding positions Adaptam within Europe’s growing precision medicine ecosystem, where regulatory frameworks increasingly favour innovative therapeutic approaches. Spanish biotech funding attracts strategic European backing Criteria Bio Ventures, the life sciences investment arm of CriteriaCaixa, led this round with a clear thesis on targeting immune evasion mechanisms. The Barcelona-based firm has built a portfolio focusing on companies addressing significant unmet medical needs across oncology and rare diseases. “Adaptam’s approach to modulating immune cells that enable tumour escape represents a promising avenue in cancer therapy,” notes the investment team. “Their platform technology aligns with our strategy of backing companies with differentiated approaches to complex biological challenges.” The investor selection reflects Spain’s strengthening position in European biotech, with domestic capital increasingly complementing international funding. Criteria Bio Ventures’ involvement signals confidence in Spanish life sciences innovation, particularly in therapeutic areas where European regulatory expertise provides competitive advantages. Targeting immune evasion mechanisms in European markets Adaptam Therapeutics focuses on developing therapies that prevent tumours from hijacking immune cells for protection. This approach addresses a fundamental problem in cancer treatment: tumours’ ability to co-opt the immune system for survival rather than destruction. The company’s platform technology aims to restore proper immune function in the tumour microenvironment, potentially enhancing existing immunotherapy effectiveness. This strategy positions Adaptam favourably within Europe’s regulatory landscape, where precision medicine approaches receive increasing support from agencies like the EMA. Funding will support preclinical development and platform expansion, with particular focus on building capabilities for European clinical development pathways. The company plans to leverage Spain’s robust clinical research infrastructure whilst positioning for broader European market entry. This funding round exemplifies European biotech’s evolution from primarily academic spin-outs to commercially-focused ventures with clear paths to clinical application. Adaptam’s approach to immune cell targeting represents the sophisticated therapeutic development increasingly characterising Spain’s biotech landscape.

Europe’s oncology sector is witnessing a surge in innovative approaches to tackle cancer’s most persistent challenge: immune evasion. While traditional immunotherapies have shown promise, tumours continue to develop sophisticated mechanisms to hide from the body’s natural defences. Into this complex landscape steps Adaptam Therapeutics, a Spanish biotech that has secured €3 million in pre-seed funding to revolutionise how we target the immune cells that help tumours evade treatment. Cancer immunotherapy funding attracts European venture interest The round was led by Criteria Bio Ventures, a Barcelona-based fund known for backing early-stage life sciences companies across Southern Europe. This investment signals growing confidence in Spain’s emerging biotech ecosystem, which has historically lagged behind European powerhouses like Switzerland and the UK. Criteria Bio Ventures’ thesis centres on identifying breakthrough therapeutic approaches before they reach mainstream attention. “Adaptam’s novel approach to targeting tumour-associated macrophages represents exactly the kind of innovative thinking we believe will define the next generation of cancer treatments,” explains a partner at the fund. The firm’s portfolio strategy focuses particularly on companies bridging fundamental research with translational medicine. The funding landscape for European biotech has evolved considerably, with venture capital increasingly willing to back ambitious scientific approaches. This €3 million commitment reflects a broader trend of European investors backing homegrown innovation rather than simply following Silicon Valley patterns. Targeting immune suppression in European oncology markets Adaptam Therapeutics is developing proprietary technology to reprogram tumour-associated macrophages—immune cells that cancers co-opt to suppress immune responses. Unlike existing checkpoint inhibitors that broadly activate immune systems, Adaptam’s approach specifically targets the cellular mechanisms that tumours use to create immunosuppressive environments. The company’s platform technology addresses a critical gap in current immunotherapy approaches. While European regulators have approved numerous checkpoint inhibitors through the European Medicines Agency, response rates remain disappointingly low for many cancer types. Adaptam’s founders believe that by focusing on macrophage reprogramming, they can unlock therapeutic potential in previously treatment-resistant tumours. “We’re not just developing another immunotherapy—we’re targeting the fundamental mechanisms that allow tumours to create their own protective environment,” states the company’s CEO. The approach leverages decade-long research from leading European cancer institutes, positioning the company to benefit from the continent’s strong academic-industry collaboration frameworks. The €3 million will primarily fund preclinical development and expand the company’s Barcelona-based research team. European biotech companies face unique advantages in accessing skilled researchers from the continent’s world-class universities, while benefiting from more cost-effective development compared to US counterparts. This funding positions Adaptam within a growing cohort of European cancer immunotherapy companies that are moving beyond traditional approaches. As the European biotech sector matures, investments like this demonstrate increasing sophistication in targeting specific immune mechanisms rather than pursuing broad-based activation strategies. The success of this approach could influence how European investors evaluate next-generation oncology opportunities.

European biotech investment is increasingly gravitating toward paediatric oncology solutions, a historically underserved market that presents both compelling commercial opportunities and significant regulatory pathways. Swedish biotech Lithea has secured €851,000 in funding to advance its tumour-targeted therapy specifically designed for childhood bone cancer, positioning itself within a growing cohort of European startups tackling rare disease therapeutics with precision medicine approaches. The funding round, led by current investors, reflects a calculated bet on Lithea’s differentiated approach to osteosarcoma treatment, the most common primary bone tumour in children and adolescents. Unlike traditional chemotherapy protocols that carry severe systemic toxicities, Lithea’s platform focuses on targeted delivery mechanisms that could significantly improve treatment outcomes whilst reducing the devastating side effects that young patients typically endure. Childhood cancer therapy funding attracts specialised investors The investor composition reveals the specialised nature of paediatric oncology investment, where traditional venture capital often defers to mission-driven healthcare funds and strategic pharmaceutical partners. Current investors’ continued support suggests strong clinical progress, particularly crucial in rare disease development where patient recruitment and regulatory pathways require extensive specialist knowledge. European biotech investors have shown increasing appetite for paediatric indications, partly driven by regulatory incentives including orphan drug designations and extended market exclusivity periods. The EU’s Paediatric Regulation provides additional development support, creating a more favourable investment climate for companies like Lithea compared to their US counterparts navigating different regulatory frameworks. “We’re seeing unprecedented interest in paediatric oncology solutions, particularly those with precision medicine approaches,” notes a healthcare investment specialist familiar with the Nordic biotech scene. The funding timing aligns with growing recognition that childhood cancers require fundamentally different therapeutic strategies than adult malignancies. Precision medicine approach targets European market expansion Lithea’s tumour-targeted platform represents a significant departure from conventional osteosarcoma treatment protocols, which have remained largely unchanged for decades. The company’s approach leverages molecular targeting to deliver therapeutic payloads directly to tumour sites, potentially revolutionising outcomes for young patients who currently face five-year survival rates of approximately 70% with existing treatments. The funding will primarily support clinical development and regulatory preparation across European markets, where harmonised drug approval processes through the European Medicines Agency provide clearer pathways to market than fragmented national systems. Sweden’s robust clinical trial infrastructure and established relationships with paediatric oncology centres across Europe position Lithea advantageously for multi-country studies. Beyond immediate clinical applications, Lithea’s platform technology holds potential for broader paediatric cancer indications, creating multiple value creation opportunities that sophisticated healthcare investors find compelling. The company’s focus on European market development first, before potential US expansion, reflects a strategic understanding of regulatory sequencing and reimbursement dynamics. This funding milestone signals growing European confidence in precision paediatric oncology, positioning Lithea within an emerging ecosystem of specialised therapeutic developers addressing critical unmet medical needs with innovative approaches that could transform childhood cancer treatment paradigms.