Mind the Byte, a bioinformatics company operating in the Barcelona Science Park and the Copenhagen Bio Science Park, has concluded its equity crowdfunding round on Crowdcube Spain. The offer closed with 115 private investors raising €234,310 which is the largest crowdfunding round ever in Spain for a biotech firm.
The Software as a Service (SaaS) platform is designed to drive efficiencies in biotech development. According to Alfons Nonell-Canals, founder and CEO of Mind the Byte;
“We help to speed up the time to market of new drugs by as much as 1 to 3 years.”
Mind the Byte operates on a pay per use basis and is said to “break through the major technological and economic barriers of computational design for biotech and pharmaceutical companies and research centres.”
“Crowdcube Spanish investors strongly believe in the development of these companies and support the importance of their business in today’s society,” stated Pepe Borrell, Executive Director of Crowdcube Spain. Borrell believes this is just the beginning of alternative financing, along with equity crowdfunding, to help boost capital for small biotech firms.
Mind the Byte raised more than 2X their initial funding goal. According to Crowdcube Spain, the largest single investment was €80,000 with the average at €2,037.
Crowdcube Spain has listed 17 companies since the investment platform launched raising over €3 million. The platform is in the process of registering with the National Securities Market Commission (CNMV), as an equity crowdfunding platform.
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