Successful exit for High-Tech Gründerfonds and Bayern Kapital –
Proteintech acquires ChromoTek

October 20, 2020

• Proteintech, which is based in Chicago, Illinois, USA, is the benchmark in antibodies
• Martinsried-based startup ChromoTek is a market leader in nanobodies
• The acquisition enables Proteintech to expand its next-generation antibody tools
• Bayern Kapital and HTGF arranged the seed financing in 2010
• The transaction marks HTGF’s 10th successful exit during the coronavirus crisis

High-Tech Gründerfonds and Bayern Kapital have sold their shares in ChromoTek after having spent 10 years at the start-up’s side. ChromoTek is the market leader in nanobodies — high-performance recombinant reagents that are used for breakthrough research discoveries. The combined companies will better address the industry’s growing opportunities and challenges in single cell analysis, super resolution imaging, and multiplex assays.

Our fit-for-purpose nanobody-based tools perfectly complement the comprehensive antibody coverage of the proteome that Proteintech offers. It is exciting to be working together with a company that shares our values in reproducibility and quality for the benefit of research and beyond.

Dr. Marion Jung, CEO of ChromoTek

This new partnership will deliver considerable value to the market. With global manufacturing across three continents, not only will we serve the research market better, but we’ll also deeply impact translational science and therapeutic applications.

Dr. Jason Li, CEO of Proteintech

ChromoTek was founded in 2008 as a spin-off from the Ludwig Maximilian University (LMU) of Munich. It all began when researchers discovered the opportunities presented by alpaca single-domain antibodies also known as nanobodies. Researchers at LMU eventually succeeded in generating extremely efficient tools to bridge cell biology work with comprehensive proteomic analysis. The respective tools for immunoprecipitation were called Nano-Traps. The outstanding performance of the Nano-Traps and the high level of demand led to the company’s foundation.

ChromoTek’s single domain antibody platform offers unique advantages in high value applications where other antibody formats would reach their limits and gave rise to a portfolio of gold standard, ready to use reagents for immunoprecipitation, protein purification and high-resolution microscopy. The use of these products led to a plethora of new discoveries and is documented in over 2.700 scientific publications.

A big thank you for the real pleasure to work together for 10 years since our seed investment with an equally competent and dedicated founder and management team. All the best for the new future with the Proteintech Group.

Dr. Bernd Goergen, Partner with High-Tech Gründerfonds

About Bayern Kapital
Bayern Kapital GmbH, based in Landshut, was founded on the initiative of the Bavarian government in 1995. It is a wholly-owned subsidiary of the Bavarian LfA Förderbank . As the venture capital organisation of the Land of Bavaria, Bayern Kapital provides equity capital financing for the founders of young innovative technology companies in Bavaria.
Presently Bayern Kapital manages thirteen investment funds with a total volume of around €500m. So far, it has invested roughly €330m in about 280 innovative companies in the fields of technology in various sectors including life science, software & IT, medical technology, materials and new materials, nanotechnology and environmental technology.
In this way, more than 7500 long-term jobs in sustainable companies have been created in Bavaria.
www.bayernkapital.de

Press Contact Bayern Kapital:
IWK Communication Partner
Andreas Klein / Dominik Neumüller
T.: +49 89 20003030
bayernkapital@iwk-cp.com

About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around EUR 900 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge almost 600 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and start-up experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected over EUR 2.6 billion into the HTGF portfolio via more than 1,600 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies.

Investors in the public-private partnership include the Federal Ministry of Economics and Energy, KfW Capital, the Fraunhofer-Gesellschaft and 32 companies. Our Fund Investors
www.htgf.de/en

Contact
High-Tech Gründerfonds Management GmbH
Dr. Bernd Goergen, Partner
T.: + 49 228 82300136
b.goergen@htgf.de