Principia invests €7m in Silk Biomaterials

As part of the deal, the Italian company's management team will stay in place. According to a statement, Silk Biomaterials will use the fresh capital to bolster its product development.

In 2015, the business raised €485,000 from a syndicate of Italian business angels.

Company
Founded in 2014 and headquartered in Como, Silk Biomaterials develops medical treatments using fibroin, a protein present in silk and produced by silkworms. The company claims the protein will enable several human tissues and blood vessels to regenerate.

The pre-revenues business employs four people.

People
Silk Biomaterials – Gabriele Grecchi (founder, CEO); Antonio Alessandrino (founder, chief technology officer); Giuliano Freddi (founder, chief scientific offficer); Lorenzo Sala (founder).

Advisers
Equity – King & Wood Mallesons (legal).
Company – Studio Legale Tributario Pellicanò & Ventura (legal).

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• Topics
• Early-stage
• Healthcare
• Southern Europe
• Italy
• Principia
• Venture