MicThera Secures 1 Million Euro from Indaco Bio Fund

MicThera, a biotech startup based in Lodi, specialized in the development of bacterial-inspired therapies to improve prostate cancer treatments, has secured an investment of one million euros, divided into tranches, from Indaco Bio Fund, the fund dedicated to biotech, managed by Indaco Venture Partners sgr.

MicThera will use the funds to develop new therapies

The investment will be used to develop new therapies for the treatment of oncological diseases, based on the research of internationally renowned scientific founders, namely prof. Andrea Alimonti , Dr. Nicolò Pernigoni and professor Arianna Calcinotto .

Pernigoni, co-founder and executive director of MicThera, said: “Our goal at MicThera is to translate cutting-edge microbial research into concrete oncology treatments that can significantly improve patients’ progress. We are committed to harnessing the power of beneficial microorganisms to pioneer new therapeutic approaches.”

Goncalo Rebelo de Andrade, partner of Indaco Bio Fund and president of MicThera, commented: “MicThera is based on the research conducted by Prof. Alimonti’s group and offers multiple opportunities for the development of innovative microbial-derived therapies that explore new approaches for cancer to the prostate. MicThera will continue to maintain close collaborations with the Institute of Oncology Research (IOR, Bellinzona), ensuring the continued translation of this cutting-edge research into the development of new therapies, providing new perspectives and hope to cancer patients around the world,” he has declared

“As part of our investment strategy, we are selectively scouting for qualified technology transfer projects. In MicThera we found a promising mix of scientific validation and therapeutic potential that convinced us to support a talented team to start its entrepreneurial journey,” added Davide Turco, partner and managing director of Indaco Venture Partners sgr.

This is the third investment for the Indaco Bio fund, after the one in Alia Therapeutics, a Trentino startup active in the development of new proprietary technologies in the genome editing field for the treatment of rare genetic diseases and in oncology; and the one in Sibylla Biotech, a spin-off of the INFN ( National Institute of Nuclear Physics ), the University of Perugia and the University of Trento.

The fund is focused on Italy, but there will be significant space for investments abroad, particularly in Europe, North America and Israel

Led by Turco together with Elizabeth Robinson (also executive vice president of the asset management company) and by partners Giovanni Rizzo and Goncalo Rebelo De Andrade , the fund announced the first closing of the collection in May 2022 at 95 million euros on a final target of 150 million , thanks to the commitments of FEI – European Investment Fund , CDP Venture Capital sgr , Intesa Sanpaolo , Quaestio sgr and Inarcassa.

Even outside of the thematic fund, Indaco has already invested in the biotech sector in some important companies, among which Enthera stands out, dedicated to the development of new therapeutic approaches for type 1 diabetes and gastrointestinal diseases, founded at the beginning of 2016 by Paolo Fiorina and Francesca D’Addio together with BiovelocITA.

BiovelocITA is an accelerator of early-stage, innovative and high-potential biotech projects, founded by Silvano Spinelli, Gabriella Camboni together with Sofinnova Partners and the Atlante Seed fund , fund of seed venture then managed by Imi Fondi Chiusi sgr (Intesa Sanpaolo group), whose management then passed to Indaco Venture Partners sgr. The Atlante Seed fund, both directly and through BiovelocITA, then followed the subsequent 4 million round in 2018.

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