By Nathan Rubbelke, St. Louis Business Journal | February 1, 2022
BioGenerator, the startup creation and investment arm of local innovation hub BioSTL, backed nearly 20 startups with more than $3 million in funding in 2021.
Of the 18 startups provided the $3.3 million in funding, eight of them received first-time investment from BioGenerator Ventures. Half the companies that received funding are led by current or former BioGenerator entrepreneurs in residence, the organization said.
The investments were made into companies operating in the agriculture technology, bioscience and health care sectors. With its new investments, BioGenerator said its portfolio includes more than 50 St. Louis-based companies that are currently operating. For BioGenerator, its 2021 investments came as its portfolio companies also found success in luring capital from additional investors, particularly those located outside St. Louis. BioGenerator said Wednesday that its portfolio firms have raised $2.2 billion in follow-on funding, with 85% of that financing coming from out-of-town investors. In 2021, about 94% of the follow-on capital raised by BioGenerator portfolio companies came from investors located beyond the region, the organization said.
"2021 was a strong year. Our mature companies are achieving scale, bringing significant investment capital to the region that creates jobs and new economic activity, and generating investment returns for BioGenerator Ventures and other investors,” said Charlie Bolten, senior vice president of BioGenerator and head of BioGenerator Ventures. “Returns harvested from eight portfolio companies during 2021 will help fund an aggressive plan in 2022 where we anticipate deploying more capital to St. Louis entrepreneurs and startups than in any previous year.”
The 18 startups receiving investment from BioGenerator in 2021 include:
- Aptimmune Biologics: The startup is developing vaccines for swine diseases. That includes efforts to develop vaccines for African Swine Fever, Porcine Reproductive and Respiratory Syndrome and Influenza A virus.
- Bacterioscan: This startup has made a device that rapidly detects urinary tract infections.
- Bond Biosciences: The company is focused on creating oral therapeutics designed for the prevention and treatment of ion-related diseases. Its lead drug candidate is focused on hereditary hemochromatosis.
- Cadre Biosciences: The biotech startup is focused on curating a portfolio of new drugs for cancer and metabolic disease.
- Cardialen: This medical device company is focused on creating implants to treat abnormal heart rhythm.
- CoverCress: The agtech startup has developed an oilseed “cash cover crop” to provide winter and early spring soil cover between corn harvest and soybean planting.
- CuriMeta: The company has created a clinical data platform.
- Euclises Pharmaceuticals: This company is focused on creating drugs meant to prevent tumor immune evasion.
- Geneoscopy: This startup has created an at-home, preventive screening test for colorectal cancer. It's currently completing a clinical trial for its screening test.
- Hypha Life Sciences: Created by BioGenerator, this company is a contract research organization that provides its services to companies operating in the pharmaceutical, agricultural, and biotechnology fields.
- Immune Functional Diagnostics: Spun out technology developed at the Washington University School of Medicine, the startup’s focus is on providing diagnostics tests to “define the immunological state of critically ill patients.”
- InterShunt Technologies: The startup is developing a catheter system designed to mitigate left atrial pressure in heart failure patients.
- Myonid Therapeutics: Based on technology originating from Saint Louis University and the University of Health Sciences and Pharmacy in St. Louis, Myonid is focused on treating metabolic diseases. BioGenerator said the startup is being overseen by its fellow portfolio firm Cadre Biosciences.
- Plastomics: It has created engineering technology designed to deliver traits to a plant’s chloroplast instead of its nucleus to improve crops and their yield.
- RhoDx: The company is developing diagnostics for cancer detection in liquid biopsies.
- Syndeavor Therapeutics: The company is focused on treating cancer. It is overseen by Cadre Biosciences.
- Solis Agrosciences: Created by BioGenerator and its entrepreneurs in residence, Solis is designed to provide specialized research and technical services to agriculture companies, particularly early stage startups.
- VaxNewMo: The bioscience startup specializes in quickly developing affordable vaccines and has placed a focus on so-called superbugs.
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