Seed-Financing for mk2 Biotechnologies
Today, mk2 Biotechnologies, based in Munich, Germany, announced the receipt of multi-million Euro seed funding to accelerate the company’s further growth. In particular, the company aims to achieve further development milestones towards the industrialization of its novel peptide production platform. The financing round was led by OCCIDENT, an international VC investor, with significant funding coming from primeCROWD and SeedBlink in addition to co-funding from high-net-worth individuals.
“The goal of mk2 Biotechnologies is to advance its unique platform approach for large-scale synthesis and purification of authentic peptides that can be broadly applied in multiple market segments. Our synthesis technology allows us to exceed both quality requirements and cost expectations. Key to our process is that we have been able to remove the existing bottlenecks of established technologies”, said Dr. Sebastian Mangold, CEO and one of the three co-founders of mk2 Biotechnologies. “The funding committed by this experienced consortium represents further validation of our technology and reflects recent developments in the bioactives market. The funding will allow us to continuously improve our platform and ramp up our production to move our first product candidates towards application in volume markets such as cosmetics, food and beverage, agriculture and pharma.”
In fall, mk2 Biotechnologies will relocate its R&D facilities to the Innovation and Business Incubation Center for Biotechnology in Martinsried (IZB) just outside of Munich, Germany, allowing for focused growth of the team, operations and business.
“We are very excited about our new premises and the companies located there, which are mainly active in the pharmaceutical industry. We expect to leverage relevant synergies and accelerate not only our industrially applicable product candidates, but especially our peptide-based APIs already in the development pipeline,” adds Dr. Sebastian Mangold.
Cédric Barra, Senior Investment Manager at OCCIDENT, commented, “We see a lot of potential in the application of high-value peptides. With the technology platform and expertise that mk2’s team brings to the table, the company is well positioned for further development. We very much look forward to working with this motivated team in the future.”
Ronald Rapberger, Chief Investment Officer of primeCROWD, added, “Being a molecular biologist myself, I am confident that this outstanding team can take the technology from the lab to the mass market. This will finally make peptides available at competitive prices for currently underserved applications.”
Peptides, which are short chains of amino acids, can have extraordinary properties and modes of action. This class of compounds has shown great promise for highly attractive applications in personal care, food and beverage (e.g., flavors, nutrition, and preservation), animal agriculture (e.g., antibiotic replacement), and crop production (e.g., fungicide and fertilizer replacement). However, established manufacturing processes 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 not been applicable in products on the mass market so far. mk2 Biotechnologies exactly addresses this challenge with a proprietary process that enables the scalable and thus cost-efficient production of highly pure peptides for a broad range of applications. Thus, mk2 Biotechnologies offers the still missing tool for the application of peptides in mass markets.