Biotech companies raise millions for research

Alzheimer's, cancer and Covid-19 are among the diseases that Bavarian start-ups are researching into treating them. In the first half of 2021, five of the 50 companies in the IZB start-up center near Munich raised a total of almost 150 million euros, as IZB managing director Peter Zobel announced in Martinsried. That is more than in the whole of 2020: The start-ups came to a total of 115 million euros in financing rounds.

Origenis GmbH founded and financed the company Neuron 23 in California with partners - they concluded the financing with a total of 95 million euros. AMSilk GmbH recorded a financing of 29 million euros and Leukocare AG collected 15 million euros. The Eisbach Bio company received eight million euros in government funding from the Federal Ministry of Research for its work on Covid-19.

An IZB spokeswoman pointed out that not all companies publish their figures. These did not appear on the balance sheet. The company Sirion Biotech was bought by a US company. Financial details are not known.

Since 2015, start-ups at the IZB in Martinsried have concluded deals with a total value of more than 4,3 billion euros. The IZB was founded in 1995. Morphosys AG and Medigene AG are among the best-known companies that have emerged from the start-up center.

The corona crisis gave biotechnology a powerful boost. In 2020, according to the umbrella organization Bio Deutschland, the industry raised a record amount of three billion euros in equity. Previously, the highest value was 1,3 billion euros in 2018. In 710, sales of the 2020 German biotech companies rose by 36 percent to 6,5 billion euros.