i&i Prague announces its first exit: its founders buy out DIANA Biotechnologies

Prague, 21 February 2022 – BTND a.s. has completed the buyout of DIANA Biotechnologies from the portfolio of biotech incubator i&i Prague. For i&i Prague, the transaction opens up new opportunities to support other scientific projects.

i&i Prague acquired a stake in DIANA Biotechnologies at its inception, reflecting the important role of the Institute of Organic Chemistry and Biochemistry of the CAS (IOCB) in the early development of DIANA technology prior to the company’s establishment. However, DIANA Biotechnologies has gradually become a successful biotechnology company that is independently developing a number of other new technologies. It has also made a positive contribution to the fight against the COVID-19 epidemic by developing unique PCR assays, significantly increasing the Czech testing capacity. DIANA Biotechnologies is now facing major investments in further development and it made sense for i&i Prague to make its first exit. BTND a. s., a company backed by DIANA Biotechnologies co-founders Václav Navrátil and Martin Dienstbier, together with the Czech investment group BTCZ, is buying the stake from i&i Prague.

„In less than four years DIANA Biotechnologies has moved from a spin-off project to a broad-based and independent company. We are now facing heavy investment in building a state-of-the-art scientific facility and in developing projects in drug development and monoclonal antibody development. Our goal is to build an innovative biopharmaceutical company that will work closely with Czech academia. I am pleased that our success will also help other promising scientific projects,“ said Václav Navrátil, co-founder and director of DIANA Biotechnologies.

The transaction is also considered a great success by the incubator i&i Prague, where it is the first purchase of a share of the company from their portfolio. “We were honored to be at the birth of this project. It is the first swallow, which completes several years of efforts of our entire team and which also confirms the sense and correctness of our steps and vision. We will use the funds raised through this transaction to support other interesting startups and spin-off companies from the academic sphere in the Czech Republic and Europe,“ explained Jaromír Zahrádka, founder and director of i&i Prague.

 

About i&i Prague

The i&i Prague biotech incubator was founded in 2017 and has become part of a unique ecosystem that has formed around the Institute of Organic Chemistry and Biochemistry of the CAS (IOCB). Since its establishment, this incubator has been dedicated to investing in academia and supporting the transition of scientific discoveries into practice. Currently, i&i Prague has in its portfolio the shares of 10 spin-off companies, promising projects from all over Europe or the USA, in which it has invested a total of approximately EUR 3 million. In addition, it has helped these early stage companies to raise another approximately EUR 75 million from investors not only from Europe but from all over the world.

About DIANA Biotechnologies

DIANA Biotechnologies s.r.o. is a Czech biotechnology company engaged in the research and development of pharmaceuticals and highly sensitive diagnostic methods. Founded in 2018, it mainly develops applications around the patented DIANA technology invented by the company’s CEO and Scientific Director Václav Navrátil during his tenure at the Institute of Organic Chemistry and Biochemistry of the Academy of Sciences. However, the company’s portfolio is much broader and its products are aimed at global markets and, in addition to the development of new drugs and diagnostic methods for the detection of new biomarkers, it also focuses on the development of monoclonal antibodies for diagnostics and therapy and PCR diagnostics for viral diseases. The company builds on a team of top scientists with unique expertise in molecular biology, biochemistry, organic and medicinal chemistry, pharmacology and laboratory automation. DIANA Biotechnologies aims to become a multinational biotechnology company developing its own original medicines. To this end, the company has already raised significant private investment capital at its inception. The company is based in Vestec near Prague. For more information about the company, please continue to www.dianabiotech.com and follow on Facebook and Twitter.