knowing01 Raises Oversubscribed Pre-Seed Funding to Accelerate Their Biotech Software and Commercialization, Innovating and De-Risking Early-Phase Drug Discovery
Munich, Germany, September 25, 2024 – Munich-based Biotech SaaS startup knowing01 GmbH has successfully closed an oversubscribed six-figure pre-seed funding round. Led by Backbone Ventures and supported by notable DACH business angels, including Dr. Julia Ju, Veronika Chrestin, Björn W. Schäfer and Johannes Stiber, this funding will enable knowing01 to accelerate the development of its AI-powered software for contextualizing molecular data, reducing risks in early-phase drug discovery.
Reimagining Drug Discovery at the Intersection of DeepTech, Biotech and SaaS
knowing01 is uniquely positioned at the crossroads of DeepTech, Biotech and SaaS. By combining advanced AI with the power of biomedical data, the company is transforming how researchers unlock insights from complex datasets. This integrated approach helps pharmaceutical and biotech companies make smarter decisions, reducing the costs and risks of drug discovery in ways traditional methods cannot achieve.
Since its inception, knowing01 has been dedicated to building a fast, user-friendly software solution designed to make biomedical data analysis accessible to scientists. Last year, the company achieved a promising launch of its first product in the European Biotech market. The new funding will be used to further expand the software’s capabilities, accelerate commercial activities in biotech and pharma, and grow the team.
Innovate to De-Risk Early-Phase Drug Discovery
The early-phase decisions in drug development are often the most pivotal and risky, contributing to high failure rates and costly delays. Validating the true disease-modulating effects on targets, understanding the mode of action, and selecting the most promising molecular indication for a drug remain major challenges, often leading to wrong candidate selection and unbalanced clinical results.
knowing01’s proprietary AI-powered Multiomics platform allows researchers to extract insights from existing data in a scalable, in silico-first approach. Multiomics refers to the integration of various biological data types, such as genomics, proteomics and transcriptomics, to provide a comprehensive view of biological processes. By breaking down traditional technology-inherent silos of Multiomics data, the platform empowers scientists to start smart, leveraging all relevant data to drive better research outcomes with fewer errors.
Unlocking the Untapped Potential of Complex Molecular Data
“With our solution, we’re empowering scientists to leverage untapped data sources and make more informed decisions in the drug development pipeline,” said Dr. Nikola Müller, Founder and CEO of knowing01. Research by knowing01 reveals that only 5-20% of biomedical data is typically used in early-phase drug discovery, leaving most valuable insights untapped. knowing01’s platform is designed to unlock the remaining 80-95% of data context, helping researchers identify crucial patterns, refine hypotheses and accelerate the development of novel therapies.
“By ensuring all relevant and available data is utilized to develop new treatments, we aim to contribute to better research and less error-prone developments. With a scalable, platform-like solution, we have the potential to impact the entire field,” added Dr. Nikola Müller.
A Strong Partnership with Backbone Ventures
Backbone Ventures, a German-Swiss VC firm, led the pre-seed funding round through its 5502 Fund. The fund is known for supporting underrepresented founders in Germany and Switzerland, and Backbone Ventures is excited about the potential knowing01 holds.
“We feel incredibly honored to be able to support one of Germany’s leading computational biologists in building a product that not only has huge monetary value for the pharmaceutical industry but that also helps develop drugs that can change the life of millions of millions of patients faster and with more and better data.” said Dr. Jan Claudio Muñoz, Partner at Backbone Ventures.
To learn more about knowing01’s innovative software platform or to request a demo, visit knowing01.com.
About knowing01 GmbH
knowing01 is a biotech SaaS company specializing in unlocking the full potential of biomedical data to transform early-phase drug discovery. Founded in 2020, the company uses its proprietary Multiomics software platform to enable researchers to extract insights from complex datasets. knowing01’s mission is to redesign drug development process by reducing the risks and costs associated with early-stage research. For more information, visit knowing01.com.
About Backbone Ventures AG
Backbone Ventures is an early-stage venture capital firm based in Zurich and Frankfurt am Main. Founded in 2018, Backbone has a track record of 41 investments with already two successful exits so far. The firm currently invests out of its EUR20m “5502 Fund”, which aims to support the best underrepresented founders in Germany and Switzerland at the start of their entrepreneurial journey. Learn more at backbone.vc.
Website & Social Media
www.knowing01.com | LinkedIn | YouTube
Press Contact
Dr. Nikola Müller
CEO & Founder
knowing01 GmbH
Phone: +49 89 74678081
E-Mail: hello@knowing01.com
Address: Am Stadtpark 66 | 81243 Munich | Germany