LBBW backs caprotec bioananlytics

The €1m investment brings the total amount raised in this round to €5m.

The transaction emerged through a long established relationship between LBBW and caprotec bioanalytics and the existing shareholders.

LBBW was attracted to the company as it has the potential to solve a major problem in the pharmaceutical industry, which is the failure of drug candidates in clinical trials due to off-target interactions. caprotec's platform enables drug developers to reduce costs by identifying factors causing adverse side effects early in the drug development process.

The capital will be used to further leverage the CCMS technology into additional markets such as diagnostics. Additionally, the capital will allow the company to execute several large pharma partnerships.

Previously the company received funding from IBB and KfW in a series-B funding of €4m in 2010 from Creathor Venture, IBB Beteiligungsgesellschaft, ERP Startfonds and private backers.

Company
Headquartered in Berlin caprotec bioanalytics was founded in 2006 by CEO Prof Dr Hubert Koster. The business focuses on commercialisation of its proprietary Capture Compound Mass Spectrometry technology in the areas of functional proteomics, drug development and development of biomarkers.

Biopharmaceutical company caprotec holds 41 international patents of which 21 are granted. Besides its headquarters, the firm also operates in Burlington, US. The firm currently employs 28 people.

People
Dr Harald Poth managed the deal for LBBW.

Advisers
Equity - Weitnauer, Berlin, Dr Nikolaus Uhl (Legal)

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