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Covalys raises millions for protein scientists’ tool

Kai Johnsson of EPFL is the inventor of Covalys' core technology (Covalys) swissinfo.ch

One-year old Covalys, a company developing a new kind of toolkit aimed at protein researchers, announced the closing of its first financing round.

The company raised SFr3 million from a group of investors co-led by Swiss venture capitalists, VI Partners of Zug and BV Group of Bern.

The young company’s innovation is to sell kits that make studying proteins easier and more reliable for scientists and researchers.

Scientists are trying to improve their knowledge of the molecular causes of diseases in order to create new and better drugs. Because proteins are the molecules which perform the majority of body functions, they are “almost always” the target. But according to the company, they are notoriously difficult to purify, label and immobilize.

The startup company is due to open a new laboratory in Witterswil close to Basel and to bring first products to the market.

Coaching

The firm receives coaching from teams organised by the Commission for Technology and Innovation (CTI).

The CTI has granted the firm one of its labels, which entitles it to coaching and eligibility, for research grants from the Swiss government.

Dr Henri Zinsli, the former business development chief at Ciba-Geigy and co-founder and chairman of several successful life science companies, chairs Covalys’ board of directors.

Other board members include Prof. Dr. Kai Johnsson, the inventor of Covalys’ core technology, Dr Diego Braguglia (VI Partners) and Matthew Robin, CEO of Ypsomed (formerly Disetronic Injection Systems).

The CEO is Christoph Bieri and CTO is Dr Andreas Brecht.

by Valerie Thompson

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