Biodesy, a US-based biotechnology company which is developing systems to analyze real-time protein function for research and clinical applications, has closed a $15m series A financing round led by venture capital firm 5AM Ventures and including Pfizer Venture Investments, the corporate venturing unit of US-listed drugs company Pfizer, and Roche Venture Fund, the corporate venturing unit of Switzerland-based pharmaceuticals company Roche.
Proceeds from the financing will be used to further develop and commercialize Biodesy’s technology.
Andrew Schwab, managing partner of 5AM Ventures and a director of Biodesy, said: “Biodesy has the potential to help transform our understanding of how proteins work by delivering the first real-time, high-throughput system for measuring changes in protein structure caused by molecular interactions.”
In addition to the financing, Greg Yap has been named as chief executive Officer of Biodesy. Yap, who was most recently the first healthcare Entrepreneur in Residence at GE, said: “We believe our technology will provide unique value in multiple applications, including drug development, structural biology, and eventually personalized medicine. We have seen significant and immediate interest from pharmaceutical companies and academic thought leaders, and this financing will enable Biodesy to rapidly launch a full suite of products and systems.”