Aachen-based biotech startup PL BioScience has secured €7.8 million in a Series A funding round to further develop and expand its production capacities. The investment came from Better Ventures, AVANT BIO, LePure Biotech, b.value AG, Brightlands Venture Partners, and TechVision Fonds.
- Founded in 2015 by Christian Wilkes and Hatim Hemeda, PL BioScience is a provider of cell culture supplements derived from human platelets, focusing on enhancing cellular research and therapy with their ELAREM platform.
- ELAREM is a xeno-free cell culture platform that leverages human platelets, which are rich in growth factors, to enhance in vitro cell expansion. By using Human Platelet Lysate to extract these essential nutrients, ELAREM ensures that its products are entirely animal-free. The platform provides customized cell culture supplements for researchers, supporting academic, pre-clinical, and GMP-compliant cell expansion requirements.
Details of the deal
- The fresh funding was backed by AVANT BIO, a New York-based venture capital firm that invests in startups focusing on Life Sciences, TechBio, Healthtech, and Diagnostics.
- Other investors include Westborough-based VC LePure Biotech, German b.value AG, Munich-based better ventures, Brightlands Venture Partners, a venture capital fund manager that invests in innovative start-up companies that provide solutions for complex societal challenges related to sustainability and health, and Aachen-based TVF | TechVision Fonds.
"We are proud to back a team that has both the expertise and the passion to make a real difference. Congratulations to the entire PL BioScience team, especially Christian Wilkes and Hatim Hemeda," b.value AG's team, commented on LinkedIn.
- The fresh funding will enable PL BioScience to expand production capacities and strengthen its global cell culture market position, focusing on innovative HPL, a sustainable alternative to conventional media.
"With this new funding and the support of such a strong consortium, PL BioScience GmbH is set to scale its groundbreaking Human Platelet Lysate (HPL) technology, a sustainable alternative to animal-derived cell culture media. This investment will also accelerate their global growth, strengthening their presence in key markets worldwide," Brightlands Venture Partners's team, stated on LinkedIn.
