Munich-based mk2 Biotechnologies today announced the receipt of several million Euros in seed funding to accelerate the further growth of the company. In particular, the company thrives to accomplish additional development milestones towards industrializing its novel peptide production platform. The financing round was led by OCCIDENT, with significant funds also coming from primeCROWD and SeedBlink alongside co-financing from high net worth individuals.
“mk2 Biotechnologies’ objective is to apply its unique platform approach for the synthesis and purification of authentic peptides at large scales which can be broadly applied in several market segments. Using our synthesis technology, we can exceed both the quality requirements and the cost expectations. The key to our process is that we were able to eliminate the existing bottlenecks of established technologies” said Dr. Sebastian Mangold, Managing Director and one of the three co-founders of mk2 Biotechnologies. “The funding committed by this experienced syndicate represents a further validation of our technology and reflects the recent development of the bioactives market. The funding will enable us to continuously improve our platform and ramp up our production in order to move our first product candidates towards the application in volume markets such as cosmetics, food & beverages, agriculture and pharmaceuticals.”
This fall, mk2 Biotechnologies will transfer its R&D facilities to the Innovation and Start-Up Center for Biotechnology in Martinsried (IZB), just outside of Munich, which will enable the targeted growth of team, operations and business. “We are very much looking forward to our new facilities and the co-located companies mainly active in the pharmaceuticals industry. We expect to leverage respective synergies and accelerate not only our industrially applicable product candidates, but particularly our peptide-based APIs which are already in the development pipeline” complemented Dr. Sebastian Mangold.
Cédric Barra, Senior Investment Manager at OCCIDENT, commented: “We see a lot of potential in the application of high-quality peptides. With the technology platform and the know-how that the team at mk2 brings along, the company is in an excellent position for further development. We are very much looking forward to working with this motivated team in the future.”
Ronald Rapberger, Chief Investment Officer of primeCROWD, added: “Being a molecular biologist myself, I’m confident in the ability of this outstanding team to bring the technology from the lab to the mass markets. This will finally make peptides available for currently underserved application areas and at competitive prices.”
Peptides, which are short amino acid chains, can have extraordinary properties and modes of action. This substance class has been identified to be very promising for highly attractive applications in the areas of personal care, food & beverages (e.g. flavors, nutrition and conservation), animal breeding (e.g. antibiotics substitutes) and crop cultivation (e.g. fungicide and fertilizer substitutes). However, established production methods are very costly and not scalable. Due to the enormously high prices, despite their often outstanding properties and the broad interest of the industry, peptides have so far not been applicable in products on the mass market. mk2 Biotechnologies precisely addresses this challenge via a proprietary process that allows the scalable and thus cost-efficient production of high-purity peptides for a wide range of applications. Therefore, mk2 Biotechnologies provides the yet missing tool for the application of peptides in mass markets.