Dutch-based ExCulture secures funding to produce animal-free alternative to life-saving blood thinner

Leiden-based ExCulture, a biotechnology startup, announced that it has secured investment in a fresh funding round.

The funding round is provided by the Dutch Industrial Biotech Seed Fund, managed by the Cleantech Team of Capricorn Partners, and Medtech TTT, a national platform managed by Innovation Industries.

This funding announcement comes around a year after securing capital from UNIIQ, Delft Enterprises (Delft University of Technology), and Libertatis Ergo Holding (Leiden University) in 2023.

The Dutch company will use the funds to

• Enhance product development: Continue chemical and biological characterisation studies to advance regulatory development and fulfill market requirements.
• Scale production: Optimise the bioprocess and prepare for pilot scaling.
• Expand research: Invest in research and development to explore additional applications for their fermentation platform technology and broaden its impact.

ExCulture: Fermentation bioprocess technology

Founded by Aisling Foley and Ilaria Poledri, ExCulture is developing a novel fermentation bioprocess for the efficient and reliable production of complex biopharmaceuticals.

The company is applying this fermentation bioprocess for the production of an animal-free heparin substitute that is expected to become a safer, more efficacious product instead of the current, animal-derived heparin.

Aisling Foley, co-founder, and CEO of ExCulture, says, “Heparin is the most used blood thinner in the world, so it’s surprising that in the 21st century, such an essential medicine is still produced as a by-product of pig slaughter. This production method has led to global shortages since 2017 and has exposed the supply chain to contamination crises in the past. ExCulture’s goal is to utilize our novel, animal-free bioprocess, to produce a safer product via a more sustainable process. Ultimately, we aim to create a more future-proof method of producing biopharmaceuticals.”   

The investor

The Dutch Industrial Biotech Seed Fund is a part of the Capricorn Industrial Biotech Fund and is an initiative of Capricorn Partners, DSM-Firmenich, and InnovationQuarter to provide crucial early-stage funding and expert guidance for ventures with industrial biotechnology applications at their core.

The fund is managed by the Cleantech Team of Capricorn Partners and has been awarded additional Seed Capital funding by the Dutch government.

“We are proud to support ExCulture and its mission to develop animal-free substitutes for heparin and other complex biomedical molecules. ExCulture shows the power of industrial biotech to bring benefits to the responsible production of heparin. At the same time, it improves the reliability and availability of an essential compound, improving the lives of many patients worldwide”, says Damien van der Bijl, Investment Director at Capricorn Partners and responsible for the Dutch Industrial Biotech Seed Fund.

The Thematic Technology Transfer (TTT) MedTech consortium is a cooperative alliance between the Technology Transfer Offices of the four Dutch Technical Universities, three academic medical centers, and Innovation Industries, with the support of the Netherlands Enterprise Agency.

It was founded to help promising early-stage tech spin-offs take the first step toward the commercialisation of disruptive medical technologies.

“ExCulture’s technology differentiates from synthetic methods for its capacity to be readily scalable. ExCulture’s team differentiates through its female entrepreneurial spirit. That’s why we are delighted to be part of their journey,” says, Pleuni Hooijman, investment manager at Innovation Industries.