Avenue Biosciences raises EUR 4.9 million to scale protein engineering technology
Avenue Biosciences, a protein engineering technology company, has announced EUR 4.9 million (USD 5.7 million) in seed extension funding round co-led by Balnord, and Tesi, with support from existing investors Voima Ventures, Inventure, University of Helsinki, and Dimerent. The funding will be used to scale a high-throughput protein engineering technology that accelerates the discovery of protein-based therapies and tools for the biotechnology industry.
Avenue Bioscience’s technology enables new, often previously unfeasible, therapeutic targets, for example, in cancer care, infectious diseases, and immunology, to reach patients faster, spanning antibodies, vaccines, AI-designed proteins, gene therapies, and many more.
“Many life-altering therapeutic innovations remain out of reach for most of the global population. We see significant growth opportunities for Avenue’s technology, which is deeply rooted in Finnish scientific discovery and know-how in the field of health and life sciences,” says Miia Kaye, Investment Director at Tesi.
Tesi’s investment is its first in the company. Tesi focuses on strategic areas for Finland, such as health and life sciences, aiming to develop expertise clusters and drive sustainable growth. However, Tesi can also invest in high-potential companies in other areas.
Read more:
Additional information:
Miia Kaye, Investment Director, Venture & Growth Investments
miia.kaye@tesi.fi
+358 50 388 3005
Tesi (officially Finnish Industry Investment Ltd) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies, and to new industrial scale businesses. tesi.fi | X(Twitter) | LinkedIn | Instagram | Bluesky | Threads | Newsletter
Avenue Biosciences is a transatlantic biotechnology company dedicated to accelerating the discovery and development of protein biologics, so that no life-saving therapy goes unrealized because of production barriers. Avenue Biosciences has developed a protein engineering platform that combines organic biology and machine learning to boost protein production. The proprietary method is based on years of scientific research from the University of Helsinki, Finland. www.avenuebiosciences.com