Healthcare Industry News: Biocon
News Release - November 6, 2007
Sloning BioTechnology GmbH Raised EUR 4.7m in a First Closing of a Series E Equity Financing RoundPUCHHEIM, Germany--(HSMN NewsFeed)--Sloning BioTechnology GmbH, Puchheim (Munich), a Synthetic Biology company and the technology leader in Gene Synthesis announces today the first closing of a series E financing round. LBBW Venture Capital GmbH, Stuttgart joined existing investors HBM BioVentures, Zurich, KfW Bankengruppe and Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG, Jena who also participated in this series E financing round. The proceeds of this first closing with € 4.7m will be used to finance the internationalization of its Slonomics™ gene synthesis business and the further expansion of the unique gene mutant library product family: Slonomax™ - the intelligent library.
Dr. Heinz Schwer, CEO of Sloning BioTechnology GmbH comments: “We are happy to welcome LBBW Venture Capital GmbH on board, a highly renowned and sophisticated Life Science Investor with a strong financial background”. Dr. Harald Poth from LBBW Venture Capital GmbH, who will also become a non executive director of Sloning comments: “Sloning clearly has the potential with its fully automatic gene synthesis platform to become the market leader in the increasingly attractive Synthetic Biology market. With its unique Slonomax™ product, Sloning is very well positioned to become a leader in Synthetic Biology and the partner of choice for its customers from the White Biotech industry as well as delivering better enabling tools to protein therapeutic developers in order to make better drugs.” Manfred Peter, Head of LBBW Venture Capital Life Science Team adds: “We are very delighted to invest in Sloning and be a part of this experienced and renowned syndicate”.
LBBW Venture Capital GmbH is an investor in Life Science companies since 1999 and made several well-known investments throughout Germany. LBBW Venture Capital GmbH, is the venture capital arm of LBBW Landesbank Baden- Württemberg, which is among the five largest financial institutions in Germany.
Bioconnect AG, Frankfurt am Main, acted as financial advisor to Sloning BioTechnology GmbH in this financing round.
Sloning BioTechnology GmbH has developed a unique and patented technology platform to build DNA molecules with exceptional features regarding sequence limitations, reliability and production cost on an industrial scale robotic system – the Slonomics™ technology platform.
The Slonomics™ technology platform is based on a defined number of double-stranded short oligonucleotides with defined structure (building blocks). This building block system makes Sloning the only gene synthesis provider who can synthesise any desired gene sequence without limitations. As the raw material is organized in a pre-made library and all the processes are standardized, the Slonomics™ method provides the basis for applying a fully automated industrial scale robotic system with apparent superiority over its competitors regarding sequence limitations, cost of goods and reliability.
Based on the Slonomics™ technology platform, Sloning has developed a product family of unique gene variant libraries - SlonoMax™ – The Intelligent Library. SlonoMax™ is the only library today that can produce a complete set of mutations in a defined representation ratio (SlonoMax™ – screen) or all possible mutants of a protein in a number of nested positions (SlonoMax™ - stretch). These libraries represent the key enabling technologies for protein engineers to overcome their number one bottleneck: genetic diversity. For further information please visit www.sloning.com.
Source: Sloning BioTechnology
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