Biomia, the first company spun out from BioInnovation Institute’s Bio Studio programme, has secured $3 million in pre-seed financing from an international syndicate of investors.
Biomia says it plans to use the investment to accelerate its development of plant-inspired natural and new-to-nature halogenated small molecule drug candidates and further build its biosynthetic manufacturing platform.
Chief Innovation Officer at BioInnovation Institute, Trine Bartholdy, said: “Biomia is at the forefront of innovation in the biosynthesis field. Through our Bio Studio programme, we are proud to have helped and guided the team with both scientific and commercial maturation to spin out a company and raise investment from an international syndicate of investors. This is an outstanding example of how we support platform technologies based on world-class science to become viable companies that can positively impact human and planetary health.”
The company has developed a pipeline of monoterpenoid indole alkaloids (MIAs) for unmet medical needs in pain, addiction, and mental health conditions. It aims to generate improved drug candidates with optimised ADME properties and tox profiles by integrating halogenation into the design of new-to-nature MIA drug leads.
CEO of Biomia, Michael Krogh Jensen, commented: “We would like to thank the Novo Nordisk Foundation, The Novo Nordisk Foundation Center for Biosustainability at DTU, and BioInnovation Institute for their support. We also owe thanks to EU’s Framework Programme for Research and Innovation and our strategic collaborators from this programme. The successful conclusion of Biomia’s pre-seed financing marks a pivotal step forward in the company’s mission to design and develop groundbreaking plant-inspired new-to-nature small molecule drug candidates for patients with unmet needs.”