• AptaTargets signed in May 2025 a licensing agreement with Merck for the clinical development and global commercialisation of ApTOLL, an aptamer with neuroprotective effect for the treatment of ischaemic stroke.

• GENESIS Biomed, as a consultant specialising in business activities in the biomedicine sector, has accompanied the company in its initial stages.

• Collaboration between scientific spin-offs/start-ups and specialised consultancy firms maximises the value of biomedical innovation in Spain.

The biotech company AptaTargets, specialised in the development of innovative treatments based on aptamers, has reached a key milestone in its history with the signing of a licensing agreement in May 2025 with the pharmaceutical company Merck for the clinical development and future global commercialisation of its lead candidate: ApTOLL, a drug with a neuroprotective effect for the treatment of ischaemic stroke.

Founded in 2014 by Maria Eugenia Zarabozo and David Segarra, AptaTargets was created as a spin-off of the company Aptus Biotech, in collaboration with the Ramón y Cajal Institute for Health Research (IRYCIS) and the Complutense University of Madrid (UCM). Its flagship product, ApTOLL, has proven to be one of the first drugs with evidence of neuroprotective effect in patients with ischemic stroke, a pathology with a high prevalence and few effective therapeutic options.

Since its inception, AptaTargets has travelled an upward path full of relevant milestones in the development of ApTOLL:

• 2017: Closing of the first financing round, with the support of GENESIS Biomed, of 5 million euros led by Inveready, Caixa Capital Risc and the CDTI.
• 2016-2020: Receipt of public grants such as Neotec and other CDTI funds and up to 3 Retos-Colaboración programmes.
• 2020: Closing of the second round of funding of 5 million euros, led by Inveready and CDTI-INNVIERTE.
• 2020-2023: Phase 1b/2a clinical trial (APRIL), the results of which showed a reduction in mortality from 18% to 5% and significant functional improvements in patients.
• 2023: PRIME designation of ApTOLL by the EMA, recognition reserved for therapies with a high potential to address unmet medical needs.
• 2025: Official announcement of ApTOLL licence to Merck, and transfer of clinical development and commercialisation of the product.

With the licensing agreement signed with Merck, one of the world’s leading pharmaceutical companies, AptaTargets has reached the coveted exit stage, the goal of any start-up and spin-off. In addition, the success story of AptaTargets contributed, together with Avizorex Pharma and Palo Biofarma, to the successful closing of the life sciences fund Inveready Innvierte Biotech II. This is the second fund that the firm closes within this investment strategy, following the success of the first fund in 2020, again achieving a return of more than 4 times the initial investment. In this way, the circle is closed and the innovation arising from academic and healthcare centres reaches the hands of large pharmaceutical and healthcare technology corporations, with a critical success factor being the investment by Venture Capital that allows an exit scenario of its investees over time, contributing to the successful closing of its funds.

AptaTargets and the case of ApTOLL are a paradigmatic example of how collaboration between scientific spin-offs/start-ups and consulting firms specialising in different fields (regulatory, clinical development, preclinical, business development, etc.) can maximise the value of biomedical innovation in Spain. As a spin-off with limited resources, AptaTargets faced important operational, regulatory and financial challenges, typical in early stages of biomedical development where operational and resource limitations require the support of consultancy firms specialised in these aspects. Thanks to these collaborations, AptaTargets has managed to position itself as a benchmark company in the field of therapeutic aptamers development and has reached a licensing agreement with one of the leading global pharmaceutical companies, thus opening a new chapter in the fight against ischemic stroke.

One of the specialised consultancies that has contributed to the success of AptaTargets has been GENESIS Biomed, which has accompanied the company at decisive moments in its initial stages. Thus, between 2017 and 2019, GENESIS Biomed actively collaborated with AptaTargets in the development of its business plan and played a key role in the closing of the €5 million financing round with Caixa Capital Risc and Inveready in 2017. Josep Lluís Falcó, CEO of GENESIS Biomed, also participated as an observer to the Board of Directors for two years, helping to strategically guide the company’s key decisions. The consultancy also supported the negotiation of an agreement with a CDMO to develop the complete formulation of the active ingredient and also facilitated AptaTargets’ first interactions with the AEMPS and the EMA.

The company has investigated ApTOLL in other indications also related to stroke, such as the RACETOLL study, a trial to administer ApTOLL in ambulances to patients with suspected stroke, which also includes haemorrhagic stroke and in a completely different indication such as acute myocardial infarction (APSTEMI trial). It has also investigated in multiple sclerosis, where ApTOLL has demonstrated a neuroprotective effect, as shown in a recent publication.

We are confident that a promising future awaits AptaTargets, where consultancies such as GENESIS Biomed play an essential role in the biomedical ecosystem, contributing to the promotion of innovation.