Biggeorge’s-NV Equity is to invest HUF 350 million of Jeremie venture capital into biotech company Velgene.
The equity arm of the property holding bought into Velgene Biotechnology with the goal of developing a molecule or a protein capable of affected autophagy, a condition involving the degradation of cellular metabolism. Recent research indicates that autophagy can be linked to Alzheimer’s disease, various types of cancer, neurodegenerative diseases and muscle atrophy.
“Cellular metabolism is a priority research area in biotechnology, where the researchers of Velgen have already made significant progress. Furthermore, the head of research is one of the most accomplished scholars in the filed of biotechnology, which played a major part in our decision to invest,” said Levente Zsembery, CEO of BNV Equity.
Velgene is the third company to be included in the Biggeorge’s venture capital division, which was established in the middle of 2010.