Joaquín Querol, CEO of Endor Technologies: “The funding of CDTI Innovation and FEDER funds allows independent companies to bring oncological innovation to the clinical field”

Since its creation in 2007, Endor Technologies has followed an unusual path in the Spanish biomedical sector. Born as a scientific spin-off of the Catalan Institute of Nanotechnology, the company was formed with a clear vocation: to transfer real scientific advances, especially in oncology, to medical solutions with direct impact on patients. “From the beginning we wanted to develop deep science, with time and rigor and do it from independence, without external conditions that could compromise the quality or direction of research,” explains its CEO and founder, Joaquín Querol.

This commitment to independence marked the structure and strategy of the company from the beginning. Endor Technologies is a private equity company, controlled by its founding partners, that has grown without recourse to venture capital funds or foreign investment. Instead, it opted for an organic and self-financed growth model, which is rare in such a capital-intensive field as biomedicine. “We decided not to depend on third parties to be able to sustain a long-term scientific vision,” says Querol.

Deep science and a unique hybrid model

To make this approach viable, the company developed a complementary path that would end up being key in its evolution. With the aim of financing scientific advances in oncology without compromising its autonomy, Endor Technologies promoted a line of cosmetics based on the same science that underpins its main research. “That step marked the beginning of a new path: a cosmetic division based on biomedical science,” says its founder.

Over time, this line has not only proven its effectiveness in the market, but has become a strategic tool for the company. Scientific cosmetics has allowed us to generate our own resources that today finance the advancement of oncological research, closing a circle of unusual technological transfer. “This hybrid business model has allowed us to grow sustainably and now take a crucial step in our original purpose: to lead innovation in the oncology sector,” says Querol.

Currently, the activity of the company is structured in three major areas: oncological research, with a phase II clinical project based on a new mechanism of action for metastatic tumors; scientific cosmetics, supported by its own technology with scientific and clinical evidence; and development of health products aimed at the treatment of side effects of chemotherapy, under demanding clinical standards.

An adjusted structure with focus on R&D

The company now has a team of around 17 people, three of whom work directly in the R&D department. Despite its contained size, the investment effort in research is significant: Endor Technologies allocates 25% of its turnover to R&D and practically 100% of its EBITDA. “Our absolute priority is to sustain scientific development,” says its CEO.

Among the technological achievements achieved in recent years are the development of a disruptive theory on tumor dynamics validated in the preclinical phase, the start of a phase II clinical trial with a non-cytotoxic mechanism of action, the development of a proprietary and patented molecule with cosmetic and biomedical applications, as well as the adaptation of a laboratory of its own for the manufacture of nanomolecules under medical device regulations.

In commercial terms, the company currently operates exclusively in the domestic market, which accounts for almost 100% of its sales. Its main customers in Spain are specialized aesthetic medicine centers and customers who buy dermocosmetic products directly through its website. The internationalization will come later: “2026 will be the year we start going out,” says Querol.

An oncological project to change the paradigm

The central focus of Endor Technologies’ activity is, however, its oncological project: the phase II study of growth factors for the treatment of metastatic tumors, with special focus on metastatic breast cancer. This is an initiative that, according to its promoter, responds to a clinical need not yet covered. “Metastatic cancer remains one of the leading causes of mortality, and many current treatments are based on cytotoxic strategies that do not always provide long-lasting responses,” he explains.

Faced with this approach, the project proposes a paradigm shift. “Our project addresses a clear vacuum: to explore an alternative therapeutic approach that does not seek to destroy the tumor, but to modify its environment to limit its growth initially and necrotizing it later,” says Querol. Instead of directly attacking the tumor cells, the strategy stimulates a biological response that physically confines the tumor, preventing its expansion and promoting its natural necrosis.

“Innovation lies precisely in that paradigm shift,” he stresses. It is a non-cytotoxic mechanism of action that, according to the CEO of Endor Technologies, is not being explored by other groups at the clinical level. This approach could open the door to treatments potentially complementary to current therapies and with a positive impact on the quality of life of patients.

Laboratory of Endor Technologies

From the laboratory to the clinic: exceeding high standards

The progress of the project towards clinical phases has meant facing some of the most demanding challenges of biomedical development. “The main challenge we are facing today is to obtain the authorization of public agencies for the start of clinical phases,” says Querol. A process that involves meeting the pharmaceutical industry’s highest standards in terms of safety and demonstration of efficacy.

The phase IIa clinical trial will involve 15 hospital centers and about 90 patients, making the project a large-scale multicentric study. Coordinating an initiative of this nature is, in the words of the interviewee, “an important organizational and scientific challenge”.

In this context, the collaboration with the Fundació Món Clínic Barcelona and its academic CRO is key. “It provides an enormous clinical experience, methodological rigor and coordination capacity, fundamental elements for the quality and credibility of the study,” says Querol. This alliance strengthens the solidity of the project and its integration into the health and scientific system.

Public support as an accelerator

The development of a clinical project of this complexity requires not only scientific excellence, but also financial support aligned with the times and risks inherent in biomedical research. In this sense, Endor Technologies has the support of aid co-financed by the CDTI Innovation and European ERDF funds, a support that has been decisive in the evolution of the project.

“The support of the CDTI has been key to advancing clinical development without slowing down the rest of our R&D lines,” says Joaquín Querol. In his opinion, this type of public financing not only provides financial resources, but also fulfils a validation function. “This type of funding validates the scientific strength of the project and allows an independent company to bring real innovation to the clinical field,” he stresses.

Beyond the direct impact on the company, Querol highlights the tractive effect of this aid on the entire ecosystem. “At the economic and social level, this support strengthens the innovative Spanish ecosystem, facilitates scientific knowledge to be translated into medical solutions and generates tangible benefits for patients, the health system and society as a whole,” he says.

Facilities of Endor Technologies

Potential impact on the healthcare system

Metastatic breast cancer, especially in subtypes such as the triple negative, still has limited survival rates. In this context, the approach proposed by Endor Technologies could have a relevant impact if it demonstrates its safety and efficacy in the clinical environment. “It could mean a significant improvement in the quality of life of patients, since it is a non-cytotoxic strategy,” explains its CEO.

The aim is not necessarily to replace existing treatments, but to broaden the range of therapeutic options. “Our goal is to offer new options where the current ones are limited,” adds Querol. An ambition that directly connects with the need to move towards more personalized, less aggressive and better tolerated treatments.

Biomedical innovation with vision

Beyond concrete clinical results, the project sends a broader message about the innovation model advocated by Endor Technologies. “This project demonstrates the importance of a commitment to non-conventional approaches and courageous biomedical innovation based on solid, bold science and a long-term vision,” says its founder.

For Querol, without this type of betting it is difficult to generate truly transformative advances in the field of health. The combination of deep science, strategic independence and public-private collaboration appears as one of the keys so that projects of high risk, but also of high potential impact, can materialize.

If the results of the phase II clinical trial are positive, Endor Technologies aspires to continue progressing towards more advanced clinical phases and to maintain an ongoing dialogue with regulatory agencies. “We would like to consolidate the clinical development of the treatment and lay the foundations so that this strategy can reach, in the future, real patients within the health system,” concludes Joaquín Querol.

CDTI Innovation

The Center for Technological Development and Innovation, CDTI E.P.E. It is the innovation agency of the Ministry of Science, Innovation and Universities, whose objective is the promotion of technological innovation in the business environment. The mission of the CDTI is to ensure that the Spanish business fabric generates and transforms scientific and technical knowledge into globally competitive, sustainable and inclusive growth. In 2024, within the framework of a new strategic plan, the CDTI provided more than 2.3 billion euros of support to Spanish companies and startups.

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