# Protagen Protein Services

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/protagen-protein-services

- Industry: Biotechnology
- Headquarters: Heilbronn, Germany
- Website: www.protagenproteinservices.com
- Total disclosed funding: $17M
- Latest round: Series B (Sep 7, 2010)
- Investors on record: 4

## About

Protagen Protein Services GmbH, located in Heilbronn, Germany, specializes in advanced analytical solutions for the biopharmaceutical industry, focusing on biologic drugs and cell and gene therapies.Protagen Protein Services GmbH provides analytical services tailored for biopharmaceutical development. Founded by Martin Blüggel, the company has undergone strategic development to enhance service offerings. The firm is headquartered in Heilbronn, Germany. In July 2021, GeneWerk GmbH acquired a majority stake in Protagen from Zukunftsfonds Heilbronn, furthering its strategic expansion. The company has raised EUR 4.000 mn in its latest funding round from investors including MIG Verwaltungs AG, NRW Bank, and Qiagen, totaling EUR 4.000 mn across its funding efforts.Protagen specializes in advanced analytical solutions for biologic drugs and cell and gene therapies. Its core offerings include comprehensive assay development and integrated analytical services that cover all stages from discovery to market release, helping biopharmaceutical developers make informed decisions. Their clientele includes global biopharmaceutical companies and research institutions, with services provided across North America, Europe, and Asia. The company is noted for its expertise in vector analytics and cell-based assays, which enhance gene therapy safety and compliance with industry-specific quality systems.In the most recent fiscal year, Protagen generated revenue of EUR 23,386,030.90 and reported an EBITDA of EUR 6,617,711.60 for the year 2020. Revenue streams originate from B2B contracts with biotech firms, pharmaceutical companies, and academic institutions, facilitated through project-based agreements.Following a strategic acquisition in July 2021, Protagen plans to expand its laboratory capabilities and solidify its market presence in the U.S. biopharmaceutical sector. The recent funding of EUR 4.000 mn will support these initiatives, enabling the company to enhance its service offerings and reach within this significant market. Specific new products aimed at improving analytical capabilities are being developed, although release dates have yet to be specified.

## Funding rounds

- Series B, Sep 7, 2010, $13M — KfW Banking Group, NRW Bank, MIG Capital, S-Venture Capital Dortmund
- Series B, May 8, 2006, $4M — MIG Capital, S-Venture Capital Dortmund

## Investors

- MIG Capital (https://capitalatlas.ai/funds/mig-capital) — Series B
- S-Venture Capital Dortmund (https://capitalatlas.ai/funds/s-venture-capital-dortmund) — Series B
- KfW Banking Group — Series B
- NRW Bank — Series B