Draupnir BioâSEVERAL: Investment, 202407 seed financing round â¬12m with MP Healthcare + EIFO + Gilde HP + Inkef Capital + Novo Holdings - [LSE] Life-Sciences-Europe.com - The European Life Sciences Web Portal
Summary
"Press Release: Draupnir Bio Completes \xe2\x82\xac12 Million Seed Round to Progress Development of Oral Small Molecule Degraders of Extracellular Proteins". Copenhagen.MP Healthcare and EIFO join existing investors, Gilde Healthcare Partners, Inkef Capital and Novo Holdings Draupnir Bio (\xe2\x80\x9cDraupnir\xe2\x80\x9d), a biotechnology company harnessing the natural machinery of the lysosome to develop oral, small molecule degraders of extracellular disease-causing proteins, today announces equity investments totalling \xe2\x82\xac12 million to support the Company\xe2\x80\x99s ambition to revolutionise the field of targeted protein degradation (TPD). TPD is a rapidly emerging field in drug development, exploiting a cell\xe2\x80\x99s own destruction machinery to tackle disease-causing proteins that have historically been highly challenging to target with conventional therapies. The proceeds from the financing will be used to further develop Draupnir\xe2\x80\x99s risk-diversified preclinical pipeline of oral, small molecule protein degraders, which have been proven against targets that are validated and those that have been traditionally difficult to drug. We are delighted to welcome MP Healthcare and the Export and Investment Fund of Denmark as investors in the Company and thank our existing investors, Gilde Healthcare Partners, Inkef Capital and Novo Holdings, for their continued support.\xe2\x80\x9d For more information, please contact: Draupnir Bio Andrew Hotchkiss, Chief Executive Officer info@draupnir.bio ICR Consilium David Daley, Kumail Waljee, Emmalee Hoppe Phone: +44 (0)20 3709 5700 Email:draupnirbio@icrhealthcare.com About Draupnir Bio Draupnir Bio is a Danish biotechnology company harnessing the natural machinery of the lysosome to develop oral, small molecule degraders of extracellular disease-causing proteins \xe2\x80\x93 the next frontier of targeted protein degradation (TPD), a rapidly emerging field that exploits a cell\xe2\x80\x99s own destruction machinery to tackle disease-causing proteins that have historically been highly challenging to target with conventional therapies.