5 million Euros venture capital for Dynamic Biosensors : Date:
The protein analysis start-up Dynamic Biosensors in Martinsried (Germany) has acquired series B financing of 5 million Euros venture capital. New investor: BayBG.
Dynamic Biosensors GmbH based in Martinsried, Bavaria was once again able to convince venture capitalists in a second round of financing. Alongside the existing investors, who have extended their funding, BayBG (Bayerische Beteiligungsgesellschaft mbH) has been won as a new investor. BayBG is one of the biggest venture capitalists for medium-sized companies. Together with the current investors, among them Venture Capital Partners and Bayern Kapital, Dynamic Biosensors have now 5 million Euros available.
“The conditions for expansion of the product range, as well as the development of sales and marketing activities have been created”, says Ulrich Rant, CEO of Dynamic Biosensors.
Early financing by GO-Bio
Rant and his team were already successful before the company was founded: They received 10,000 Euros from the BayStartUP competition and in 2011 won in the fourth GO-Bio selection round by the Federal Ministry of Education and Research (BMBF) with their chip-based protein analysis. In 2012, the Dynamic Biosensors GmbH was founded as a spin-off by the Technical University of Munich and reached the second GO-Bio funding phase. The BMBF provided around 5 million Euros in total for the project up until 2016.
On the path to success with Switch-Sense
By 2015, the company had already received the German Innovation Award. The sophisticated analytical method has been on the market with the product name ‘Switch-Sense’ since 2014. It is based on patented biochip technology which uses DNA molecules as probes in an electric field. The molecules to be investigated begin a measurable interaction with the probes. The method is suitable for pharmaceutical companies to investigate how substances combine with their target structures. Switch-Sense can also be used to detect pollutants. “The technology delivers a great deal of information and detailed knowledge”, says Otto Hopfner, Investment Manager at BayBG. Dynamic Biosensors has been growing continuously since its spin-off.
Meanwhile, the company offers its ‘Switch-Sense technology’ products worldwide. It operates sales offices in the US, UK, France, Japan and Singapore.
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