Impilo invests in Pelago Bioscience – a fast-growing drug discovery research partner
STOCKHOLM, Sweden, 16 August 2023 – Impilo invests in Pelago Bioscience AB (“Pelago” or the “Company”) and enters a partnership with the Founders to accelerate platform expansion.
Pelago is a fast-growing drug discovery focused contract research organisation (“CRO”) with a service offering centered around its patented CEllular Thermal Shift Assay (CETSA®) technology. CETSA® provides unique value to customers in accelerating drug discovery projects given its ability to quantify how a drug compound binds to its intended target and perturb the biology in whole-cell physiological conditions.
The Company enjoys strong market tailwinds, serves a steadily growing global customer base of leading pharmaceutical and biotechnology companies from its state-of-the-art laboratory in Stockholm, and is well-positioned to capture a significantly larger share of drug discovery projects globally.
“Pelago has established itself as a unique and highly reliable technology and service provider in the discovery of novel therapeutics, with significant growth runway for the Company’s existing platform centered around its patented CETSA® technology for target engagement assessment”, says Victor Steien, Partner at Impilo, the largest shareholder following the transaction, and continues: “Impilo is excited to partner with the Founders and support the management team of Pelago in driving market penetration and a customer focused platform expansion with an attractive scope to broaden the service portfolio, organically as well as through M&A, and thus assist customers through several phases of the drug discovery process”.
Pelago was founded in 2013 by Professor Pär Nordlund at the Karolinska Institute, Michael Dabrowski (CEO), and Daniel Martinez Molina (CSO), who all remain as significant shareholders following the transaction, which mainly consists of a primary issue to drive growth, coupled with a limited secondary sale of shares.
Michael Dabrowski, Co-Founder and CEO, comments: “Impilo is the ideal partner for Pelago as we continue on our mission to enable better drug discovery for our customers. As a long-term and dedicated healthcare and life science investor, with vast experience from the pharma services sector, Impilo will contribute important competence for the next phase of our growth journey. Through the partnership we will be able to further invest and build our capacity and competence to accelerate business development initiatives and expand the applicability of our CETSA® technology for the benefit of our existing and new customers. We as Founders, together with the entire Pelago team, look forward to this next exciting phase in the development of the Company.”
For further information, please contact:
Michael Dabrowski, CEO of Pelago Bioscience, michael@pelagobio.com
Victor Steien, Partner at Impilo, victor.steien@impilo.se
About Pelago Bioscience
Pelago Bioscience was founded in 2013 and is today a Drug Discovery Research Partner supporting pre-clinical drug discovery and development with our expertise in biologically relevant assay systems. Our unique core technology, the CEllular Thermal Shift Assay (CETSA®), has multiple assay formats that makes it a keystone of decision-making throughout the drug discovery pipeline. Our approach is designed to help you make better decisions faster, no matter where you are in the drug discovery process. Learn more about Pelago at https://www.pelagobio.com/
About Impilo
Impilo is a Nordic investment company focused on long-term investments in sustainable healthcare companies active in pharmaceuticals, medical technology, healthcare services, and other health-related areas. The Company strives to increase the value of its investments through long-term active ownership. Impilo has a well-diversified portfolio of investments and has raised c. SEK 10 billion in capital from leading Nordic and international investors since its inception in 2017. Learn more about Impilo at www.impilo.se/en/