Velabs Therapeutics GmbH, a leader in rapid screening of functional therapeutic antibodies, today announced the closing of a €3 million Series B financing round to advance its functional antibody screening programme and to strengthen its own pipeline of preclinical functional antibodies against diseases with poor treatment options. Further details of the financing round were not disclosed.
Velabs Therapeutics, a young spin-off company of the European Molecular Biology Laboratory (EMBL), is a pioneer of microfluidic technology for the screening of antibodies with modulatory function on complex signalling proteins such as GPCRs, ion channels or other regulatory signalling proteins. Its proprietary high-throughput screening platform makes it possible to test millions of correctly paired, fully natural human and mouse antibodies for their therapeutic effects, not just for binding. Results are achieved in only a fraction of the time required by other technologies. The company offers customized screening services for users worldwide. In addition to existing pharma co-development partnerships, Velabs is currently building its own pipeline of therapeutic antibody candidates for further joint development with interested partners.
"This investment will enable us to advance the development of our own pipeline of preclinical functional antibodies and secure the expansion of our platform technology into new pharma-based co-development deals," said Christoph Antz, Managing Director of Velabs.
"Further preclinical validation of our own antibody drug candidates against GPCRs and Ion Channels will enhance our position as a leader in the field of rapid functional antibody screening and development," adds Christoph Merten, scientific founder and CSO of Velabs.
"We are glad to see Velabs Therapeutics growing into a leading company for fast antibody screening. This financing round will position Velabs as a prime partner for companies seeking rapid generation of functional antibody drug candidates on complex signal proteins," says Jürgen Bauer, Deputy Managing Director of EMBL Enterprise Management Technology Transfer GmbH (EMBLEM).