Zurich/Schlieren ZH – Procavea Biotech has received funding in the amount of 150,000 Swiss francs from Venture Kick. The Zurich-based start-up is developing a platform for the administration of RNA therapeutics.
Venture Kick is supporting Procavea Biotech with 150,000 Swiss francs, as detailed in a press release. The Zurich-based start-up impressed the jury with a new RNA-based drug delivery platform. One focus is on small interfering RNAs (siRNAs), which have shown great potential for the treatment of many diseases with high unmet medical needs. According to the press release, existing delivery methods pose the greatest challenge in the development of siRNA therapeutics.
Procavea's platform was developed on the basis of non-viral protein cages. These are non-toxic, biodegradable and easy to produce. They can also be targeted at specific cell types.
In order to bring its technology to market, Procavea is currently focusing on the development of a first drug candidate for an undisclosed disease. At the same time, the start-up is also planning to expand its pipeline of siRNA therapeutics.
Procavea intends to use the 150,000 Swiss francs to further validate its platform for siRNA applications and to test its first drug candidates in vivo, among other things. In the coming year, the start-up is also planning to launch a seed financing round in order to bring its main candidate through preclinical development within the next two years.
The Venture Kick funding initiative supports young companies from the initial idea to the founding of the company. The Venture Kick Foundation has IFJ Institute for Young Entrepreneurs, which is represented in Schlieren, St. Gallen and Lausanne, with the implementation of the initiative. ce/ssp