Biotechnological company Biotts attracts over $1.7M to fight against breast cancer
Wroclaw-based startup Biotts has raised over $1.7 million in a second round from Montis Capital fund, reports MamStartup media. Biotts company specialises in developing proprietary drug delivery technologies and drug formulas in the field of oncology, dermatology and autoimmune diseases.
Previously, the startup has received $2.8 million under the “Fast Track” programme of the National Centre for Research and Development for creating anti-diabetic therapies. This time Biotts has signed a licensing agreement with American company Balanced Biotech to develop a breast cancer treatment.
According to the co-founders of the company Dr Paweł Biernat, Dr Jan Meler and Konrad Krajewski, half of the funds they received will be invested to the new medicine development, over $370,000 to the obtaining new patent solutions and extension of patent protection. The remaining amount of investment will be spent on team building and commercialization of the technologies it possesses.
Montis Capital is a Polish development fund that invests to the life science and Industry 4.0 projects. Biotts has became an interest of the fund because of its patent technologies that could be implemented in various areas of medical and pharmacy industries, emphasizes the founder and managing partner of Montis Capital Tomasz Poniński.