Belgian company BioStrand has raised €2 million to continue developing its genetic data analysis technology, which has been lauded for its precision and potential applications in medicine, biotechnology and agriculture. The investment comes from K&E, the investment fund of Koen Quaghebeur and Els Paesmans, who founded the crop protection company Globachem.
The BioStrand methodology identifies similarities and variations in DNA, RNA and proteins. According to the company, “structural 3D information is automatically integrated into the analyses, revolutionising pattern and profile detection that are critical in unraveling diseases and biological processes.”
Founded in February 2019, the biotech startup is a family affair. Husband and wife duo Dr. Dirk Van Hyfte and Dr. Ingrid Brands developed the technology and their two sons play “active roles” in running the business. Dr. Brands, who is also the CEO, says the team is currently conducting beta tests with various universities and research departments, with the hopes of scaling the solutions to industrial products this summer.
Commenting on the decision to invest, Paesman said: “As investors, we always look at how commercially viable opportunity is. In addition, there are also more idealistic reasons for our commitment: society will benefit greatly from the use of pioneering solutions such as that of BioStrand. The technology makes genetic research much more effective and less complex.”
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