Columbus Venture invests in €7.4m round for Algenex

Columbus Venture deployed capital from Columbus Life Science Fund II, which invests in early-stage and high-growth opportunities across the Spanish life sciences, pharmaceuticals and healthcare industries.

Algenex intends to use the fresh capital to support the development of its proprietary and patent protected CrisBio technology.

The company expects to reach the European approval of its first veterinary vaccine in H1 2021 and subsequently develop its technology for human health applications. Part of the financing will also be used to expand Algenex's new production facilities.

Previous funding
Cleon and Uninvest backed Algenex in 2018.

Subsequently, Cleon and Vita led a €4m funding round for the company in March 2019, with participation from several high-net-worth individuals, and biotech investors and executives.

Company
Founded in 2005 and based in Madrid, Algenex specialises in the development of recombinant biologics for veterinary and human vaccines, and other applications.

Its flagship product is CrisBio, a baculovirus vector-mediated expression platform that uses pupae from the Trichoplusia ni, a type of moth which is the natural host of the AcMNPV baculovirus.

People
Columbus Venture Partners – Damiá Tormo (co-founder, managing partner).
Cleon Capital – Nicola Zambon (founder, managing partner).
Algenex – Claudia Jiménez (CEO).

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• Topics
• Early-stage
• Southern Europe
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