Celtarys Research closes a first investment round of 650,000 euros

The start up Celtarys Research, born at the University of Santiago de Compostela and dedicated to the development of fluorescent tools for drug discovery, has closed a seed capital investment round of 650,000 euros. In the round have participated the Galician institutional funds of the Xunta de Galicia -through XesGalicia- and VigoActivo, as well as national and international private business angels, among which are some of the founders of the company.

This seed round will serve to promote the arrival to the market of the technology owned by the company, which already has several products in the commercialization phase.

Celtarys Research, created this year 2021, is positioned as the only company exclusively dedicated to developing fluorescent probes to replace radioactivity.  “Radioactivity has been the gold standard for identifying and characterizing new drug candidates, despite the fact that this type of assay has many drawbacks – safety, cost, supply … -. Celtarys Research technology allows us to overcome these barriers, implement innovative screening methods and accelerate the drug discovery process”, highlights Eddy Sotelo, the company’s main promoter.

“We want to thank all our investors for the great commitment they make to Celtarys Research, which will serve to achieve the commercial validation of our innovative chemical conjugation technology, strengthening the commercial team and supporting the development of new products,” said Sonia Martínez Arca, CEO of the company.

Photo: Sonia Martínez Arca, CEO of Celtarys Research; Samuel Méndez, General Director of VigoActivo; Yolanda Falcón, Investee Management Director of XesGalicia and Eddy Sotelo, main Promotor of Celtarys Research.