Draupnir Bio: One of Europe's top 10 most promising biotech stars in 2024
Draupnir Bio is developing a targeted protein degradation technology called ‘targeted protein degradation’ / TPD. The technology uses the cells' own protein degradation mechanisms to tackle disease-causing proteins that have historically been challenging to target with conventional treatments. Draupnir Bio's innovative approach extends the potential of TPD to both extracellular and membrane-bound proteins, which has the potential to revolutionise the field.
In July 2024, Draupnir Bio secured €12 million in a seed round to advance the development of their pipeline. The investment will be used to further develop Draupnir Bio's preclinical pipeline of protein degraders for the treatment of inflammatory and neurological disorders.
‘Our new technology platform shows great promise against disease proteins that have previously been difficult or impossible to target with small molecules. With this investment, we have been able to develop our platform to provide new therapeutic treatments for complex diseases. We are very pleased to welcome the new investors in the company and thank our existing investors for their continued support,’ says co-founder & CSO, Simon Glerup.
The investment of DKK 90 million was made through a seed round to which both the new investors in the biotech company, MP Healthcare, the venture arm of the Japanese pharmaceutical company Mitsubishi Tanabe Pharma Corporation and the national investment fund Export and Investment Fund of Denmark (EIFO), as well as the existing investors Gilde Healthcare, Inkef and Novo Holdings have all contributed.
Strong collaboration and networking in INCUBA strengthens Draupnir Bio's development
As part of INCUBA's life science hub in Skejby, Draupnir Bio benefits greatly from the special business cluster. INCUBA's network and collaboration opportunities help strengthen the company's development, and the close interaction with other innovative companies creates a good and inspiring environment.
Co-founder & VP Biology Camilla Gustafsen says: ‘Draupnir Bio is super happy to be here at INCUBA. We appreciate the framework that INCUBA provides for our work and especially that INCUBA works to help us get to know the other companies. INCUBA does a lot to promote interaction between the companies that live here at INCUBA, and it's great to feel that you are expanding your network, getting to know others and meeting new colleagues.’