Venture Challenge alumnus BIMINI Biotech closes seed investment with Libertatis Ergo Holding

Leiden – BIMINI Biotech, an innovative therapeutics start-up that develops new cancer drugs, raised an investment of €250,000. The seed funding is provided by Libertatis Ergo Holding B.V. (LEH), a wholly owned subsidiary of Leiden University which supports and invests in spinout companies associated with Leiden University’s activities. BIMINI Biotech will leverage the capital injection to initiate a research program together with The Leiden Academic Centre for Drug Research (LACDR). 

BIMINI’s technology is based on pioneering research by Professor Ger Strous at UMC Utrecht and has shown promising results in the preclinical phase. The company leverages the growth hormone receptor (GHR) via a unique mode-of-action to inhibit cancer cell growth. BIMINI moved to Leiden in 2020 to continue preclinical research. The company will use the investment by LEH to initiate a research program together with The Leiden Academic Centre for Drug Research (LACDR), the centre of excellence for multidisciplinary research on drug discovery and development. Together with the group of Prof. Bob van der Water (head of the Cancer Therapeutics and Drug Safety group), BIMINI will further accelerate preclinical development and validate compound safety and efficacy. 

Dr. Digvijay Gahtory, CEO of BIMINI Biotech: “We are grateful for the support provided by LEH and will use the investment to bridge the gap to Series A funding, thus bringing our innovative technology one step closer to patients.”

Rob Mayfield, Director of LEH: “We are happy that Bimini has chosen to work with Leiden University, we believe the Bimini technology has exciting potential as a cancer therapeutic, and we look forward to helping Bimini progress the development and validation of the research.”