Three international life sciences start-ups have received investment from the BioInnovation Institute (BII).
The three new ventures were chosen as part of the BII’s focus on developing scientific initiatives across the therapeutics and health tech space.
The companies, Sevenless Therapeutics, VEIL.AI and Myopax, will receive €1.3 million and will form part of the BII’s community of life science start-ups. Collaborating with BII, the companies will receive support in the roll-out of development plans for drug development, good manufacturing practice and regulatory strategy, ahead of a Seed or Series A financing round.
Bobby Soni, Chief Business Officer at the BioInnovation Institute, said: “Our goal is to harness the untapped potential of European research, and at the BII we are passionate about helping each venture overcome potential hurdles and position them to attract top-quality international investment. Spun out from excellent translational research environments across Europe, VEIL.AI, Myopax and Sevenless Therapeutics each hold great potential in the therapeutic and health tech space. We are pleased to support them in their growth – supporting business acceleration, scientific and team development.”
Biotech company Sevenless Therapeutics has identified a novel target in pain signalling using mathematical methodology. The team is now aiming to bring this target to market to make a significant difference to the many patients suffering from inadequately treated chronic pain.
VEIL.AI is using anonymisation technology to create high-quality subject-level anonymised and synthetic data. The aim is to enable the better use of GDPR-free data for life science and diagnostics companies, hospitals and health data hubs.
Myopax has developed proprietary muscle stem cell technology for advanced regenerative therapies with a focus on combatting the consequences of muscle diseases. The spin-off originates from the translational ecosystem in Berlin, the Charité University, the Max-Delbrueck-Center for Molecular Medicine in the Helmholtz Association and the Berlin Institute of Health.