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Private equity in action - Case Study


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Country Spain
Region Islas Baleares
Investor Caixa Capital Risc

When Caixa Capital Risc invested in bioscience company Sanifit in 2007, the company was at launch stage. With CCR’s backing over the last seven years, the Spanish start-up has created potential treatments for calcification disorders affecting one million end-stage kidney disease sufferers in Europe, the US and Japan. This work is critical as the build-up of calcium in the body can cause heart attacks, cardio-vascular disease, and rare conditions, such as calciphylaxis, which dramatically reduce sufferers’ life expectancy.

With CCR’s ongoing funding, Sanifit has taken its leading drug (SNF 472) through early testing and into phase II clinical trials. The group is also developing a treatment for osteoporosis which affects some 100 million people worldwide.

Joan Perello



Together with CCR we have brought our science and drug candidates from the academia to clinical trials and have become a leading company in calcification disorders. Quotation Marks Graphic

kidney disease sufferers could be helped


osteoporosis sufferers could benefit

What did the business need?

  • Investment in R&D to develop academic research into commercially-viable drugs
  • Strategic guidance on product definition and market opportunities
  • Access to leading bioscience and healthcare advisers
  • Expanded senior management team

How did private equity backing create lasting value?

  • Created a scientific advisory board staffed with leading professionals in the field
  • Installed a management team with experience of drug development in top pharma groups
  • Identified market opportunity and focused on treatments for cardiovascular effects of calcification
  • Brought access to top-tier firms and partners
  • Helped expand investor network with national and pan-European government agencies

What outcomes did private equity investment achieve?

  • Established proof of concept
  • Took leading drug to phase II clinical trials
  • Helped create a pipeline of new products
  • Attracted an international management team
  • Licensed first product to a leading over the counter company

More information


Caixa Capital Risc


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