The biotech startup Valanx, founded in 2017 and located at the Lower Austrian Technology Park IST, is developing a process for the simple modification of proteins. The patented, novel and highly specific technology platform enables the company to produce precisely defined protein-drug conjugates and peptide conjugates quickly and cost-effectively. It is intended for use in drug development, diagnostics, and biosensor technology. The biotech company Valanx was one of the “rising” start-ups at BioVaria 2019, alongside the recently seed-financed Mindpax.me.
If you want to find out more about the financing round the biotech company Valanx has just closed, download for free our companion app. Born2Invest’s team of journalists brings you the most important business news in the world so you don’t waste your time searching the internet.
The potential of the biotech company Valanx
The biotech company was able to secure a six-figure seed financing from a syndicate consisting of IST cube, tecnet equity and SOSV from the USA, as well as a seven-figure funding by the Austrian Research Promotion Agency (FFG).
“With our technology, we will support pharmaceutical and biotechnology companies to produce protein-based active ingredients faster and more reliably. Our process allows protein conjugates to be precisely defined in their molecular composition, which offers a significant advantage in production and also in drug safety. Many vaccines are protein conjugates,” said Michael Lukesch, founder and CEO of Valanx Biotech. “Recent pandemic events undoubtedly demonstrate the extraordinary potential of our access,” the CEO concluded.
The company will expand its team and will set up a new laboratory
Commenting on the investment, Lukesch said: “With our new investors we have brought on board an extensive national and international network. Together with the expansion of our team and the settlement of our new laboratory in the recently opened IST Park in Klosterneuburg (near Vienna), this investment marks a new phase in the development of Valanx. Now we want to develop our revolutionary protein conjugation technology to market maturity as quickly as possible and adapt it to the specific needs of our customers.”
Valanx Biotech will use the new capital to expand its team and to purchase equipment to further optimize the process. “With our investment we support the high potential of the VALANX technology and the strong team under the leadership of Michael Lukesch. Now more than ever, it is becoming clear that science-based startups offer urgently needed solutions. IST Cube continues its work with startups with full commitment even in the crisis,” said lead investor IST Cube.
Doris Agneter, CEO of tecnet equity, added: “Valanx promises to make the conjugates usable as a tool for completely new applications in the industry. As an investor, we are creating the environment that will allow this disruptive technology to develop its full potential. Together with IST Cube and SOSV, we are enabling Valanx to develop world-class applications.”
One of the goals of Valanx Biotech is now also to expand existing and new contacts with industry partners. That is because the business model envisages that large pharmaceutical and biotech companies license the patented process developed by the Lower Austrian company and pay fees for its use.
In the current situation, the chances are good that companies in search of vaccines (a billion-dollar business) in particular will be interested in the application, as the technology can considerably accelerate the development.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in goingpublic.de, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
IBEX Will Be Strengthened in ESG if it Reviews its Composition in June
Sacyr has been participating in the CSA survey for more years than Acciona Energía, but it was in last year's...
Einicia Relaunches its Crowdfunding Activity with a New Investment Opportunity
Einicia, founded in 2016, now relaunches its activity by offering loan and investment opportunities of high interest, high profitability, maximum...
Fintech Companies in Colombia Now Targeting the Vehicle Market
Making use of artificial intelligence technologies, R5, a Colombian fintech company founded in 2018, gave as an example, the three...
A Company from Lublin Planted Hemp in the Middle of a Housing Estate
Hemp will appear on one of the fields at Jantarowa Street in the southern part of Węglin. A popular farmer...
Which Italian City Has the Most Million-Dollar Real Estate Purchases and Sales?
Buying and selling over $1.07 million (€1 million) analyzed by Reopla is concentrated mainly in 5 regions: leading the way...
Cannabis2 weeks ago
German Health Minister Wants to Speed Up Cannabis Legalization Process
Featured2 weeks ago
Schufa Sells FinAPI to Open Banking Startup Yapily
Crowdfunding2 weeks ago
Exit for Bloovery Investors Who Had Closed Three Equity Crowdfunding Rounds
Business2 weeks ago
Improvement, Expansion Projects Invigorating U.S. Interstate System