Enea Tech and Biomedical Accelerate Investments, Approving €160M for Biotech Startups

In recent months, Enea Tech and Biomedical, the private foundation but generously funded by public money created in 2020 with the aim of supporting technology transfer from universities to companies in the biotechnology field, finally seems to have emerged from that long impasse that had made more than one observer skeptical about its real usefulness. In fact, press releases relating to investments in startups in the sector have multiplied on the organization’s LinkedIn profile.

Even if Enea Tech and Biomedical itself specified that “during 2024, with reference to the Biomedical Fund, the Foundation has approved investments for approximately 80 million euros by entering into participation in 16 startups and innovative SMEs” which rises to 160 million including all of the various interventions launched. But let’s go in order.

Enea Tech and Biomedical, the latest operations

In the last few hours, the Finnish Valo Therapeutics Oy, also founded by Professor Vincenzo Cerullo of Naples, announced a capital increase of 13 million euros co-led by Indaco Venture Partners and CdP with the support of the Foundation. Last February 20th, Enea Tech e Biomedical announced an investment in Approxima Srl , a medtech startup engaged – as stated in the note – in the development of a technology for the treatment of tricuspid insufficiency.

The total round was 7.3 million euros and Panakes Partners also participated. A couple of weeks earlier, the Enea Tech foundation had invested 3 million in Vst Srl, an SME born as a spin-off of the University of Modena and Reggio Emilia working on a solution aimed at monitoring vital parameters.

On January 15th, the institution announced that it had invested 15 million in Tethis spa, a Milanese company focused on detecting traces of cancer in the blood. The last investment of 2024 was announced on December 16th: 6 million euros in BetaGlue Therapeutics SpA. On November 6th, another operation: 2 million in a 4 million round in Restorative Neurotechnologies srl, a startup born as a spin-off of the University of Palermo focused on neurorehabilitation.

The many false starts

Scrolling back through the Foundation’s LinkedIn posts, funding news slows down noticeably and this seems to confirm that there was a sudden acceleration in the winter period . Excellent news for a project born in the midst of the pandemic ( Relaunch decree of the then Conte II government) and which until now seemed to have only had false starts.

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(Featured image by Marek Studzinski via Unsplash)

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First published in WIRED. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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