HTGF and STIFT invest in JeNaCell
High-Tech Gründerfonds (HTGF) and The Thüringen Foundation for Technology Innovation and Research (STIFT) have invested €700,000 in German biomaterial developer JeNaCell.
The start-up company will use the funding to optimise its lead product and facilitate large quantity production following the product's entry into the market.
HTGF typically invests €500,000 in seed rounds followed by a potential follow-up investment of up to €1.5m.
Company
JeNaCell spun out of the Institute for Technical and Environmental Chemistry at the Friedrich Schiller University in Jena in June 2012.
The company has developed a biomaterial for application in medicine, cosmetics and technology. It also plans to enter industry partnerships by offering its product to be used in other product developments.
People
Martin Pfister worked on the deal as investment manager at HTGF.
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