On October 1, 2019 Draupnir Bio ("Draupnir"), the biotechnology company developing small molecule therapeutics to transform the treatment of heart disease, reported the completion of a Series A funding round, raising DKK 225M (Euro 30M) in capital investment.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The funding – one of the largest early investments in a Danish biotechnology company – was supported by a syndicate of leading European healthcare and life-sciences investors. Novo Seeds, Gilde Healthcare, Inkef Capital and High-Tech Gründerfonds all participated in the round.

Draupnir Bio was founded in 2017 as a spin-out from Aarhus University, Denmark, and the Max-Planck Society, Germany. Its research is based on proprietary structural insights and the biology of Proprotein Convertase Subtilisin Kexin type 9 (PCSK9), a protein that enables a key step in the control of plasma low density lipoprotein cholesterol (LDLC) levels.

At the time of its founding by Simon Glerup, Camilla Gustafsen, Peder Madsen and Peter Seeberger, Draupnir received a DDK 2.5M (€336,000) grant from the Novo Nordisk Foundation and access to DDK 15M (€2M) seed funding from Novo Seeds and High-Tech Gründerfonds.

(Press release, Draupnir Bio, OCT 1, 2019, View Source [SID1234662183])