HexagonFab, a spin-off of the University of Cambridge, has secured a £1.9 million seed funding round. The funding round was led by Cambridge Enterprise, along with Parkwalk, NGVC, R42 Group, and several private investors.
How will the funding be used?
The proceeds from the seed funding will allow the company to grow its team, complete the development of its first product, the Bolt – an affordable and convenient handheld device that provides access to molecular binding analytics.
While the high cost and risk of failure limit the discovery and development of next-gen biopharmaceuticals, HexagonFab aims to change it by providing better analytical tools.
Simplifies biomolecular interaction analysis
Through Bolt, the company will be focusing on simplifying the biomolecular interaction analysis of proteins and small molecules for pharma research and manufacturing.
Powered by a graphene-based semiconductor sensor, the Bolt can detect proteins, antibodies, and small molecules down to a low nanomolar concentration, irrespective of their molecular weight or size.
The Bolt can rapidly generate data on critical parameters during the R&D and production of biopharmaceuticals. It does not require installation.
With a real-time signal enabling the observation of binding events and measurement of binding affinity, the results are available in hours instead of days.
“Many researchers would like to get molecular binding data more conveniently and more frequently to guide them through a drug development project. HexagonFab aims to address this need with the Bolt. This investment will enable us to bring our game-changing product to the market. We look forward to the months ahead working closely with our lead customers,” said Christoph von Bieberstein, Founder and Commercial Director of HexagonFab.
“Our goal is to give researchers and production teams involved in the development of novel medicines faster and easier ways to understand the behaviour of the compounds. HexagonFab’s technology will accelerate the drug development process, leading to better and safer drugs in the future,” said Ruizhi Wang, Founder and Engineering Director of HexagonFab, who is leading the development of the Bolt.
“We are delighted to back HexagonFab and its new product, the Bolt. The technology will be used in the development of new biopharmaceuticals, which should ultimately lead to patient benefit.” said Christine Martin, Acting Head of Seed Funds, Cambridge Enterprise.
Originally Appeared On: https://www.uktech.news/news/cambridge-university-spin-off-hexagonfab-secures-19m-for-next-gen-biopharmaceuticals-20210420