The firm is headed by the prestigious Argentine scientist Gabriel Rabinovich.

It is supported by CONICET, Argentina's leading state-run scientific research institute.

GALTEC's treatments will be based on the development of the Galectin-1 protein, which Rabinovich is a leading researcher.

In this context, president Alberto Fernández welcomed the news and took the opportunity to highlight the importance of INDEC.

"The results of these public entities are a source of pride," he said on Twitter.

Mr Fernández defended state investment in science and technology, in the face of claims by presidential candidates that say they want to axe it.

In particular, the libertarian Javier Milei, who claimed that the INDEC "has no productivity" and that it should be privatized, generated controversy.