Draupnir

About Draupnir

Draupnir Bio is a Danish biotechnology company established in 2017 as a spin-out from Aarhus University and the Max-Planck Society. The company was co-founded by Professors Simon Glerup, Camilla Gustafsen, Peder Madsen, and Peter Seeberger, based on their research into the biology of proteins implicated in disease. Simon Glerup, who has a PhD in molecular biology and postdoctoral experience in neuroscience, was the founding CEO and led the company's initial financing rounds before transitioning to the role of Chief Scientific Officer.

The company's core focus is pioneering the next stage of targeted protein degradation (TPD), a field that uses a cell's own disposal mechanisms to eliminate disease-causing proteins. While first-generation TPD therapies are limited to targets inside the cell (cytosolic targets), Draupnir's proprietary platform develops oral, small-molecule degraders that can target extracellular and membrane-bound proteins. This approach significantly expands the range of treatable targets, as these proteins make up about 40% of the human proteome and have been historically difficult to address with conventional drugs. The technology utilizes lysosome receptors to remove these pathogenic proteins, with initial applications aimed at cardiovascular disease, as well as inflammatory and neurological disorders.

Draupnir Bio operates on a standard biotechnology business model, focusing on research and development to build a preclinical pipeline. Its financial strategy relies on venture capital investment to fund its R&D activities toward developing commercially viable therapeutics. The company has successfully raised significant capital through multiple funding rounds. In 2019, it secured €30 million in a Series A round from investors including Novo Seeds, Gilde Healthcare, Inkef Capital, and High-Tech Gründerfonds. More recently, in July 2024, the company raised an additional €12 million in a seed round. This round brought in new investors MP Healthcare (the venture arm of Mitsubishi Tanabe Pharma Corporation) and the Export and Investment Fund of Denmark (EIFO), alongside continued support from its existing backers. These funds are allocated to advancing its preclinical pipeline of oral protein degraders.