Copenhagen, Denmark – July 22, 2024 – Draupnir Bio, a Danish biotechnology company, has closed a €12 million seed funding round. The funds will be used to advance their development of a revolutionary new approach to tackling disease: oral, small molecule degraders of extracellular proteins.
Draupnir Bio leverages the power of Targeted Protein Degradation (TPD), a rapidly growing field that harnesses a cell’s natural protein disposal system to eliminate problematic proteins. However, current TPD therapies are limited to intracellular proteins. Draupnir Bio pioneers the next frontier – extracellular protein degradation. This innovative approach targets disease-causing proteins located outside the cell, opening new doors for treating a wider range of conditions.
“Draupnir Bio has a bold vision to be at the forefront of extracellular protein degradation,” said Andrew Hotchkiss, CEO of Draupnir Bio. “Our unique technology platform holds immense potential to revolutionize the field of TPD and bring new hope to patients suffering from complex diseases.”
Investment Fuels Development of Promising Pipeline:
The seed funding round was led by MP Healthcare and EIFO, alongside existing investors Gilde Healthcare Partners, Inkef Capital, and Novo Holdings. The funds will be used to further develop Draupnir Bio’s preclinical pipeline of oral, small-molecule protein degraders. These degraders target both validated disease targets and those previously considered “undruggable” due to their location outside the cell.
Key Advantages of Draupnir Bio’s Approach:
- Extracellular Protein Degradation: Targets disease-causing proteins outside the cell, expanding the range of treatable conditions.
- Oral Delivery: Offers a convenient and non-invasive administration method for patients.
- Small Molecule Design: Enables efficient delivery of the drugs throughout the body.
A Pioneering Company with a Bright Future:
Draupnir Bio’s groundbreaking technology has the potential to significantly impact the field of medicine. By unlocking the power of extracellular protein degradation, they aim to develop innovative therapies for a wider range of diseases.
30 second Dealroom Highlights
| Term | Details |
|---|---|
| Funding Amount | €12 Million |
| Lead Investors | MP Healthcare, EIFO |
| Existing Investors | Gilde Healthcare Partners, Inkef Capital, Novo Holdings |
| Funds Use | Development of pre-clinical pipeline of protein degraders |
| Technology | Extracellular protein degradation using TPD |
| CEO | Andrew Hotchkiss |
| Location | Copenhagen, Denmark |
| Website | https://draupnir.bio/ |
Draupnir Bio is a company to watch closely. Their pioneering approach to protein degradation holds immense promise for the future of medicine.