Velabs Therapeutics GmbH, a Heidelberg, Germany-based provider of rapid screening of functional therapeutic antibodies, closed a €3m Series B financing.
The backers were not disclosed.
The company intends to use the funds to:
– advance its functional antibody screening program,
– strengthen its own pipeline of preclinical functional antibodies against diseases with poor treatment options and
– expand its platform technology into new pharma-based co-development deals.
A spin-off launched by life sciences research institute European Molecular Biology Laboratory (EMBL) and its technology transfer arm EMBLEM Technology Transfer (EMBLEM) and led by Christoph Antz, Managing Director, Velabs has developed droplet-based microfluidic screening technology designed to rapidly generate antibodies against target molecules presented on cellular membrane surfaces or as a soluble protein.
The platform makes it possible to test millions of correctly paired, fully natural human and mouse antibodies for their therapeutic effects.
The company offers customized screening services for users worldwide. In addition to existing pharma co-development partnerships, Velabs is currently building its own pipeline of therapeutic antibody candidates for further joint development with interested partners.