# Celtarys Research

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/celtarys-research

- Industry: Medical Devices & Equipment
- Headquarters: Spain
- Website: www.celtarys.com
- Total disclosed funding: $7.6M
- Latest round: Seed (Sep 24, 2021)
- Investors on record: 2

## About

Celtarys Research is a Spanish company focused on developing innovative fluorescent chemical tools to enhance drug discovery, specializing in high-affinity ligands and fluorophores tailored for pharmaceutical applications.Founded in Spain, Celtarys Research specializes in the creation of fluorescent chemical tools designed to facilitate drug discovery. The company has not undergone any significant pivots or changes in business strategy. Celtarys does not have known subsidiaries or parent companies. The founders, Eddy Sotelo and Maria Majellaro, have established a firm that has raised a total of EUR 6.5 mn through a SEED round of funding, led by Vigo Activo and Xesgalicia on September 24, 2021. Currently, Sonia Arca serves as the CEO.Celtarys Research specializes in the development of innovative fluorescent chemical tools aimed at enhancing the drug discovery process. Their core offerings include potent and selective ligands targeting various receptors, such as GPCRs (G protein-coupled receptors), intracellular receptors, and E3 ligase, all exhibiting high affinity (under 100 nM) and significant selectivity (over 100 times). The ligands are integrated with stable fluorophores, which provide a range of photophysical properties suitable for applications in competitive binding assays and microscopy. These products are primarily utilized by pharmaceutical and biotech companies seeking to improve their drug discovery efficiency. The geographical markets served by Celtarys include Europe and potentially global markets, as they partner with various academic institutions and industry experts in drug discovery.Celtarys Research generated revenue of EUR 127,032.1 in 2023, with an EBITDA of EUR 9,536.6. The company derives its revenue through B2B transactions with pharmaceutical and biotech companies, providing them with customized fluorescent chemical tools and CRO (contract research organization) services. Celtarys engages in partnerships that facilitate access to its specialized products and technologies, with clients entering into agreements for specific projects or ongoing collaborations. The transaction structure typically involves direct sales of the ligands and associated services, tailored to the specific needs of clients involved in drug development.Celtarys Research intends to utilize the EUR 6.5 mn raised in SEED funding to achieve commercial validation of its innovative chemical conjugation technology, strengthen its commercial team, and support the development of new products. The company is focused on designing and launching new products that enhance drug discovery tools and aims to expand into additional global markets, particularly in Europe. These initiatives align with Celtarys' objective to enhance its product offerings and market presence, ensuring the continued growth of its innovative solutions in drug discovery.

## Funding rounds

- Seed, Sep 24, 2021, $7.6M — Xesgalicia, Vigo Activo

## Investors

- Xesgalicia (https://capitalatlas.ai/funds/xesgalicia) — Seed
- Vigo Activo (https://capitalatlas.ai/funds/vigo-activo) — Seed