Algenex completed a €4M financing round from Cleon Capital and Vita Advisory

Algenex, a Madrid, Spain-based biotech company, announced that it completed a capital investment round totalling about €4 million ($4.5M).

The round included new and existing investors, led by Cleon Capital and Vita Advisory. In conjunction with the announcement, the company completed its executive team with the appointment of Claudia Jimenez as General Manager and Virginia Gonzalez as Chief Financial Officer.

Algenex, led by Romy M. Dalton, is a private biotechnology company developing technologies for the production of protein-based recombinant biologics. Its first two platforms, TopBac and CrisBio, have both been developed on the back of baculovirus-based expression systems and have demonstrated their ability to optimize protein production by increasing the yield and quality of the proteins as well as in succeeding to produce proteins that are difficult-to-express. The use of the company’s technologies increases the speed and versatility of expression of a wide variety of protein families and thereby allowing the acceleration of the development times of protein-based pharmaceutical or diagnostic products.