We present the most important funding rounds in recent years in the bioinformatics industry, a sector that is growing at an exponential rate. We also analyse the purchase of Intelligent Pharma by Mind The Blue.
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We present the most important funding rounds in recent years in the bioinformatics industry, a sector that is growing at an exponential rate. We also analyse the purchase of Intelligent Pharma by Mind The Blue.
About Mind The Byte
Mind the ByteAmazon Web Services' technology partner since 2013, offers its technology through a SaaS (Software as a Service) platform and high value-added scientific services.
The Catalan bioinformatics company, chaired by Alfons Nonell-Canals, opened its first European subsidiary in 2015 in the Copenhagen Bio Science Park (Denmark) and in 2016 entered Japan through the Japanese company Filgen, where it expects to have a turnover of €1.2M by 2020.
Its goal for this year is to double its turnover to €600,000 and reach €2M in 2019. In addition, it expects to close a €3M funding round before mid-year.
About Intelligent Pharma
Intelligent Pharma es una compañía de biotecnología dedicada al desarrollo de tecnologías computacionales para el descubrimiento de fármacos y la prestación de servicios basados en estas tecnologías a compañías farmacéuticas, compañías de biotecnología e institutos de investigación.
The bioinformatics company has an extensive portfolio of exploratory research projects and we participate in research consortia with leading academic groups.
Intelligent Pharma was founded in 2007 at the Barcelona Science Park by Dr. Ignasi Belda (director of the Barcelona Science Park), after detecting the trend of companies outsourcing computational chemistry and the need for a company that could offer customised and specialised services for drug discovery.
The Catalan company has subsidiaries in Munich and Heidelberg (Germany), London (UK) and Alberta (Canada).
Bioinformatics company Mind The Byte buys Intelligent Pharma
Mind The Byte, a Catalan company specialising in computational drug design, has just closed the purchase of Intelligent Pharma, a company in the same sector also located in the Barcelona Science Park (PCB). Although the amount of the transaction has not been disclosed, we know that the payment will be made in cash and through an exchange of shares.
The company chaired by Alfons Nonell-Canals expects to close a €3M financing round before summer to fund the acquisition of Intelligent Pharma and the growth of Mind The Byte. Since 2011, both companies have been able to raise €5.8M of public and private capital.
The acquisition of Intelligent Pharma will allow the Catalan bioinformatics company not only to increase its local and global presence, but also to expand its range of services and accelerate the innovation of its products in the different geographical areas in which it will be present.
Según declara Nonell-Canals, presidente de Mind The Byte, «la integración nos permitirá completar nuestro porfolio de herramientas para el diseño de fármacos con el ‘know-how’ acumulado por Intelligent Pharma tras más de 10 años de experiencia y tecnologías complementarias a las de Mind The Byte, que nos serán muy útiles para fortalecer nuestra línea de negocio”.
Major investment rounds in Bioinformatics
La bioinformática es una disciplina emergente en la que se aplican las ciencias de la computación y las tecnologías de la información para el tratamiento de datos biológicos. Se trata de una de las herramientas fundamentales en la actualidad para el proceso de I+D en la industria farmacéutica. «El plazo de tiempo necesario para desarrollar un fármaco puede alcanzar los 10 o 15 años y una inversión a muy largo plazo de cientos de millones de euros; con estas herramientas recortamos costes y tiempo», explica Nonell-Canals.
As stated in the latest report by international consultancy Transparency Market Research (TMR), the global bioinformatics market is experiencing exponential growth, and it is estimated that investment could grow from $2.3 billion in 2012 to $9.1 billion by 2018.
| PROGRAMME | Research and Development Projects (RDP) |
|---|---|
| PUBLIC BODY | CDTI - Ministry of Economy, Industry and Competitiveness. |
| BENEFICIARIES | Individual: Companies National Cooperation: Economic Interest Grouping (EIG) or consortium governed by a private partnership agreement, made up of at least two independent companies and with a maximum of six partners. |
| PURPOSE OF THE PROGRAMME | Research and Development projects are business projects of an applied nature for the creation and significant improvement of a production process, product or service submitted by a single company or a group of companies. Such projects may comprise both industrial research and experimental development activities, as defined in the General Block Exemption Regulation (EC Regulation No 651/2014). |
| CHARACTERISTICS OF THE AID | Projects can be individual or cooperative: A. Individual R&D Projects: - Beneficiaries: companies. - Project duration: the duration of these projects may be from 12 to 36 months. - Project budget: the minimum eligible budget will be €175,000. B. R&D Projects in National Cooperation: - Beneficiaries: the formalisation of an Economic Interest Grouping (EIG) or consortium governed by a private partnership agreement, made up of at least two independent companies and with a maximum of six partners, is required. The creation of balanced consortia, with an adequate size to ensure effective management, will be valued. - Project duration: the duration of these projects may range from 12 to 48 months. - Project budget: the minimum budget to be financed will be of the order of €500,000, with a minimum budget per company of €175,000. The distribution of the participation of each company (or group of related or associated companies) must be balanced, with the participation of a single company not exceeding 65% of the total budget of the project. Eligible expenditure shall be: - Staff costs (researchers, technicians and other auxiliary staff, provided they are exclusively dedicated to the research project). - Costs of instruments and equipment, to the extent and for the period used for the research project, including depreciation where appropriate. - Costs of contractual research, know-how and patents acquired or licensed from external sources at market prices, and the costs of consultancy and equivalent services used exclusively for research activity. - Additional overheads directly arising from the research project. - Other operating expenses, including costs of materials, supplies and similar products, arising directly from the research activity. |
| TYPES OF AID | The financial coverage offered is up to 85% of the approved budget. The aid consists of a repayable tranche and a non-repayable tranche (TNR): (a) The repayable tranche shall be repaid over 10 years with a three-year grace period and the interest rate is equal to one-year Euribor, which shall be fixed at the time the project is approved. If the Euribor is negative, the interest rate is zero. b) The non-repayable tranche is up to 30% of the SME loan amount. The advance payment can be up to 35% of the total budget, with a limit of 250.000 €. |
| DEADLINE | Permanently open. |
| INFORMATION | +34 946 42 41 42 advisory@bakertilly.es |
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