A year ago, LAB+ Company Builder closed its first round of funding, securing $750,000 in financing for each of its first four startups. These companies used the investment to advance their science and technology.
Scaffold Biotech, which is developing a vaccine to protect cattle from ticks, optimized the production of its components and tested different formulations in animals over the past year. The startup aims to achieve pilot-scale production in the near future.
Guska, which creates viruses to target and destroy tumor cells, expanded the potential of these viruses and demonstrated in laboratory tests that they are effective against several types of human tumor cells.
Meanwhile, B4-RNA, which is developing an early cancer detection method using RNA, has applied its technology to patient samples with different types of cancer, in collaboration with the Functional Genomics Laboratory at the Institut Pasteur de Montevideo.
At the same time, Locbio is making progress in designing custom biosensors using artificial intelligence. These biosensors allow for the reprogramming of cells to create more potent and safer therapies. The startup is in the process of patenting its technology internationally.
Over the past year, LAB+ has continued to move forward, launching a new international call for startups and preselecting companies from eight countries to move on to the next phase—the Investment Committee presentation, where experts will advise on which startups should receive funding.
Additionally, LAB+ meets every two weeks with the teams from its four portfolio startups to ensure continuity and follow up on their projects.
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