Palobiofarma and the EIC Accelerator: An Oral Pill for COPD

Palobiofarma, founded in 2005, designs drugs that act on adenosine receptors, and says it has six products in clinical development. Its most advanced lung drug, PBF-680, is a pill that blocks the adenosine A1 receptor and lowers eosinophils, white blood cells behind a type of airway inflammation. Approved drugs that lower eosinophils are injected antibodies, the company notes.

The European Innovation Council granted €2,476,107 towards a €3.54 million project that ran from January 2022 to June 2024 to test PBF-680 in chronic obstructive pulmonary disease (COPD). In September 2024 Palobiofarma reported that the trial met its primary endpoint, and said it was "actively looking for partners". No partner has been announced since. Its latest news concerns a different drug, for the rare disease Prader-Willi syndrome.

Where Palobiofarma Stands Today

In May 2026 Palobiofarma announced it had completed a Phase 2 trial of PBF-999 in 32 patients with Prader-Willi syndrome, a genetic disorder that causes constant hunger, and had held end-of-Phase 2 meetings with the US FDA and the European Medicines Agency. It plans to start a pivotal Phase 3 "early 2027". The company now describes itself as "focused on the discovery and development of innovative treatments for orphan diseases". Spanish register data compiled by Empresia show it active, with sales under €500,000, three capital increases in 2024, a move to Navarra's AIN building in March 2025 and a change of corporate purpose in January 2026.

The Technology: An Anti-Inflammatory Pill Instead of an Injection

The Phase 2 trial compared 10 mg of oral PBF-680 once a day with placebo over four weeks in 103 adults with moderate-to-severe eosinophilic COPD at 12 centres in Spain; 92% were already on triple inhaled therapy. PBF-680 produced "a statistically significant reduction in blood eosinophil count", which correlated with reductions in IL-5 and TNF-alpha, and was well tolerated. ClinicalTrials.gov lists the study, NCT05262218, with 174 participants enrolled; the company's release does not explain the difference from 103.

What the EIC Project Promised, and What CORDIS Shows

The project promised "the first oral disease-modifying treatment" for COPD. According to the CORDIS report, the Phase 2 "successfully met its primary endpoint". The next step, it says, is to "secure funding, through investment or an IPO, to initiate a phase 3 trial", with market entry targeted for 2032. The primary endpoint was the change in blood eosinophil count over four weeks.

1. Complete the COPD Phase 2DeliveredFinished April 2024.
2. Meet the primary endpointDeliveredEosinophils reduced.
3. Disease modificationNot shownNot the endpoint.
4. Partner or Phase 3Not yetNone announced.

What Has Happened Since the Award

The Money

In February 2024 Palobiofarma closed a €7 million round led by Inveready, with the public company Sodena and the founders; NTT Data's Fitalent fund exited. The release said the round "could be completed with an additional €5 million" from the EIC Fund. We found no announcement that this investment was made. The company says it has been financed "basically through licensing agreements", including one with Novartis in 2015.

Why Europe Should Care

The EIC paid most of a clinical trial that worked on its own terms. By CORDIS's own account, Phase 3 needs new funding "through investment or an IPO". Until that arrives, a drug the EU helped take through Phase 2 is not advancing.

The Verdict

Palobiofarma has not been asked for comment for this article. It is based entirely on company statements, EU project data, the US trial registry and Spanish register information, linked throughout.