Algenex, a Madrid, Spain-based private biotechnology company delivering technologies for recombinant biologics production, closed an approx. €4M financing round.
The round was led by Cleon Capital and Vita Advisory with participation from biotech investors and experienced executives and existing investors.
completed its executive team with the appointment of Claudia Jimenez as General Manager and Virginia Gonzalez as Chief Financial Officer.
The company intends to use the new funds to:
– scale up its proprietary CrisBio® baculovirus-expression platform ahead of an anticipated submission to the European Medicines Agency (EMA) of a CrisBio®-based minor species vaccine,
– support the further commercial roll out of its TopBac® system, a plug and play patented technology that increases the productivity of existing baculovirus systems.
Led by Romy M. Dalton, Chief Operations Officer, General Manager Claudia Jiménez, and Chief Financial Officer Virginia González, founder and Chief Scientific Officer José M. Escribano, Algenex is a private biotechnology company developing technologies for the production of protein-based recombinant biologics.
Its first two platforms, TopBac® and CrisBio®, have both been developed on the back of baculovirus-based expression systems and have demonstrated their ability to optimize protein production by increasing the yield and quality of the proteins as well as in succeeding to produce proteins that are difficult-to-express.
The use of the company’s technologies increases the speed and versatility of expression of a wide variety of protein families and thereby allowing the acceleration of the development times of protein-based pharmaceutical or diagnostic products.