Core Biogenesis, a biotech start-up based in Versailles, has raised 2.6 million euros in seed funding from XAnge, Entrepreneur First, and Plug and Play. The company, which was founded just seven months ago, has developed a bioproduction method for growth factors at a large scale.
This method of producing biological molecules by living systems will make it easier and more affordable to produce growth factors, which are used in the two major industries of cell therapy and clean meat production. The startup aims to make these valuable molecules more accessible by reducing the costs of their production.
With the funds raised, Core Biogenesis plans to continue testing its method and begin commercialization. The startup has also joined the Genopole d'Evry-Courcouronnes and is hiring its first employees in the scientific and engineering fields.
XAnge is a venture capital firm that invests in early-stage companies, while Entrepreneur First is an accelerator program that helps individuals start companies from scratch. Plug and Play is a Silicon Valley-based accelerator program that provides funding and mentorship to startups.
Core Biogenesis is one of many biotech startups that have emerged in recent years, as the demand for new therapies continues to grow. The company's promising bioproduction method could have a significant impact on the cell therapy and clean meat industries, making these products more affordable and accessible to a wider range of consumers.
Overall, Core Biogenesis's seed funding round is a positive sign for the biotech industry and demonstrates the continued interest and investment in innovative solutions for healthcare and sustainability.