RIBOPRO Secures €1.9 Million in Convertible Loan, Accelerating Progress in mRNA Technology and Series A Funding
Oss, Netherlands, January 10, 2024 — RIBOPRO, a leading biotechnology company specializing in supporting biotech and bio-pharma through the co-creation of innovative mRNA drugs based on patented mRNA technologies and high-quality mRNA/LNP production, proudly announces the successful completion of a €1.9 million Convertible Loan Agreement (CLA), a significant milestone in its growth trajectory.
The convertible loan is a testament to the confidence and support of existing investors Vlasroot, BOM, the Fredriks family, and Commissioner Wietse Mulder, representing EchiumBio Holding BV. They all share RIBOPRO's vision to revolutionize healthcare through mRNA innovations. The financial resources obtained through this agreement will propel various research and development (R&D) initiatives to defined valorization points and further streamline production processes, positioning RIBOPRO for a successful Series A financing.
Sander van Asbeck, CEO of RIBOPRO, expressed enthusiasm about the recent development, stating, "With this capital injection, we aim to deliver a proof of concept for our advanced next-generation LNP technology and advance the development of our state-of-the-art mRNA/LNP production machine. This will establish us as the go-to provider of mRNA technologies and high-quality (GMP) production. The anticipated performance breakthrough in our mRNA/LNP will benefit our hundreds of existing customers and accelerate the acquisition of new partnerships. We are grateful for the trust and support of our investors, enabling us to grow into a mature and profitable company and fulfill our mission."
Roel Elshout, member of RIBOPRO's supervisory board and representative of Vlasroot, expressed excitement about the investment, stating, "We believe in RIBOPRO's ability to bring meaningful changes to the biotech landscape. The innovative mRNA-centric solutions developed by RIBOPRO align with our commitment to supporting groundbreaking innovations that have the potential to transform the future of healthcare."
Wietse Mulder, board member at RIBOPRO and representative of EchiumBio, shared their perspective, saying, "I am delighted to be part of RIBOPRO's journey. The completion of the convertible loan agreement is a strong affirmation of the company's vision and capabilities. We look forward to witnessing the impactful contributions RIBOPRO will make to advancing mRNA research and therapy development."
RIBOPRO is a pioneering biotechnology company focused on developing advanced mRNA technologies for the creation of radically better medicines. Committed to scientific excellence, RIBOPRO aims to drive innovation in mRNA-based drug development and mRNA production, with a vision to empower biotech and bio-pharmaceutical companies worldwide to create transformative solutions for unmet medical needs through a co-creation model, at scale. For more information, visit www.ribopro.eu.