Algenex Secures €4 Million in Funding to Advance Recombinant Protein Platforms TopBac and CrisBio

VCBeat (WeChat Official Account: vcbeat) has learned that Algenex, a private biotechnology company based in Madrid, Spain, recently completed a €4 million venture capital financing round to advance its TopBac and CrisBio technology platforms. Investors in this round included Cleon Capital and Vita Advisory, along with other biotechnology investors.

Algenex intends to use the newly invested funds for:

1. Expand its proprietary CrisBio baculovirus R&D platform before submitting CrisBio’s minor species vaccine studies to the European Medicines Agency (EMA).

2. Further develop the commercialization model of its proprietary TopBac technology system. TopBac is a plug-and-play patented technology system that can effectively enhance the detection capabilities of existing baculovirus expression vector systems (BEVS).

Baculovirus Expression Vector System (BEVS) is an expression system established based on insect baculoviruses and their host cells, following the development of Escherichia coli, yeast, and mammalian cell expression systems. It originated in the 1980s. BEVS is one of the most powerful, comprehensive, and versatile expression systems in eukaryotes, significantly enhancing the expression speed and versatility of multiple protein families and accelerating the development timeline for protein-based therapeutics and diagnostic products.

To date, Algenex has collaborated with numerous major public and private pharmaceutical companies worldwide on animal health vaccines, studied over 200 biomolecules, and is committed to applying its various platform technologies to the field of human health to fully realize their potential.

In July 2018, Algenex completed a €40 million Series B financing round and established a strategic advisory committee composed of senior executives from the pharmaceutical industry to drive the company’s next phase of growth. The lead investors in this round were the Spanish fund Cleon Capital and the UK-based fund Vita Advisory.

Leveraging its baculovirus expression system, along with vaccines, diagnostic reagents, and protein molecules, Algenex has developed two fully functional, intellectually property-protected technological production platforms, TopBac and CrisBio, to optimize the expression of recombinant proteins. These two technological platforms play a significant role in vaccine production, particularly in the production of virus-like particle (VLP) proteins, and enhance immune system recognition by mimicking the natural structure of viruses.

By providing feasibility study reports, technology supply licenses, and signing joint development agreements for protein vaccine diagnostic reagents, Algenex will allow other research institutions with shared objectives to use the TopBac and CrisBio platforms.

TopBac and CrisBio have optimized protein yield and quality, accelerated the expression speed and versatility of multiple protein families, and shortened the development timeline for protein-based therapeutics or diagnostic products. By investigating species-specific linear scalability and productivity, the CrisBio baculovirus R&D platform has developed a series of novel research systems, such as bioreactors. Furthermore, all pathogens used in the CrisBio production process are harmless to mammals.

Algenex is a privately held biotechnology company founded in 2005, dedicated to developing production technologies for recombinant protein biologics. Its leadership team includes Chief Operating Officer Romy M. Dalton, General Manager Claudia Jimenez, Chief Financial Officer Virginia Gonzalez, and Founder and Chief Scientific Officer Jose M. Escribano.

Algenex aims to become the preferred partner for companies requiring robust protein expression systems. By leveraging the technologies of its TopBac and CrisBio platforms, partners can produce vaccines and research-grade protein molecules, ultimately benefiting from a more efficient and cost-effective approach.

Cleon Capital is a private equity firm based in London, UK, and serves as a strategic partner to Barkler. The company has been trading on the UK financial market since November 12, 2015, with its primary business activity classified as uncategorized financial intermediation.

Vita Advisory is a bioscience-focused investment firm with the capability to execute unconventional transactions. It employs an active portfolio management strategy, with typical investment sizes ranging from €1 million to €10 million.

(Compiled by Wang Shuijing)