DyNAbind, a Dresden, Germany-based drug discovery technology startup, raised a seed funding of undisclosed amount.
Backers included High-Tech Gründerfonds (HTGF), Technologiegründerfonds Sachsen (TGFS) and existing shareholder TUDAG – TU Dresden AG.
The company intends to use the funds to build up a new, larger lab space and expand its team.
Led by co-founder and CEO Mike Thompson, DyNAbind provides a dynamic DNA-Encoded Library technology platform that allows hundreds of millions of chemical structures to be simultaneously screened and optimized against a potential drug target protein.
The company partners with pharma, biotech and academic organizations and has already publicly announced deals with groups including SoseiHeptares, Northwestern University Chicago and OMass Therapeutics.
A DEL discovery kit is also offered in partnership with Merck KGaA (MilliporeSigma in the US).
DyNAbind is a spin-out from the lab of Prof. Yixin Zhang at the TU Dresden.