Peter Thiel’s Breakout Labs Funds Cellular Diagnostics and Synthetic Biology
SAN FRANCISCO--(BUSINESS WIRE)-- On the second anniversary of its launch, Breakout Labs announced its support of two new early-stage companies leveraging cell-based technologies: CytoVale and Pareto Biotechnologies. The new awards bring the total number of companies supported by Breakout Labs to 16.
CytoVale, an alum of the QB3 Startup in a Box program, is pioneering a new class of biomarkers based on the mechanical properties of individual cells, or mechanomics. Disease states dramatically alter cells’ physical properties. Using microfluidics to route and physically probe individual cells, CytoVale can measure over 10 biophysical cell markers at rates above 2,000 cells per second, providing a high-throughput, low-cost method of detecting disease.
CytoVale CEO, Ajay Shah, Ph.D., and co-founder, UCLA Professor Dino Di Carlo, Ph.D., have targeted the early detection of sepsis as an initial application of their technology. Current standard of care identifies septic patients after organ damage has begun, so there is a clear need for rapid, accurate, and cost-effective methods of detecting sepsis at the earliest stages of the infection
Shah and Di Carlo recently presented their mechanomics platform, consisting of a bench-top instrument and disposable disease-specific sample cartridges, at the annual Breakout Labs Unboxing event. Unboxing is Breakout Labs’ invitation-only demonstration day at which companies supported by the program present their latest research and technologies to an esteemed group of investors, scientists, and entrepreneurs. “We have already made valuable connections through the Breakout Labs network that will likely be key to our next phases of commercialization,” said Shah.
Utilizing polyketide pathways and auxiliary technologies, Pareto Biotechnologies’ platform creates designer molecules with near-term applicability in cosmetics, flavors, and fragrances, which are currently derived from either limited natural resources or petroleum. Pareto’s technology will enable production of similar molecules at a lower price point, in a more environmentally sustainable manner than current production methods allow, while still retaining the designation of “natural.”
Pareto’s CEO, Jamie Bacher, Ph.D., is a synthetic biologist who previously managed a $100 million project at Total New Energies in partnership with Amyris. Pareto’s co-founders include Joe Noel, Ph.D., a renowned leader in the biochemistry and application of plant secondary metabolism; Mike Mendez, inventor of the XenoMouse and founder of four successful biotech startups including Sapphire Energy; and Mike Burkart, Ph.D., a leader in the field of polyketide and fatty acid synthases and metabolic engineering.
“Synthetic biology is an area of substantial technological interest to us,” said Hemai Parthasarathy, Breakout Labs’ Scientific Director. “There is obviously breakthrough potential for companies that have both a deep understanding of biology and the savvy to navigate biotech’s significant business development hurdles.” Parthasarathy will be speaking on a panel titled “From Research to Revenue” at this year’s SynBioBeta conference in San Francisco on November 15.
Over the past two years Breakout Labs has matured into a new model for early-stage R&D funding. Grant recipients benefit not only from financing at a tipping point in their technical development, but also gain access to an ever-broadening network of investors, entrepreneurs, and startup resources that are needed for long-term sustainability of their companies. “Breakout Labs’ financial support was absolutely critical in spurring our company’s progress over the last 18 months,” said Bell Biosystem’s CEO Caleb Bell. “As important as the money has been, we have really benefitted from the non-financial support, advice, and opportunities that the program has provided us.”
“Having worked intensively with our first companies, we have honed the support that is most critical to their development,” said Breakout Labs Executive Director, Lindy Fishburne. “In addition to our semi-annual networking and mentoring events in the Bay Area, we have been able to make introductions and provide strategic advice throughout the year. It’s been very rewarding to play a role in helping these companies develop along the path from brilliant technologies into strategic businesses.”
A list of all Breakout Labs grant recipients is available at http://www.breakoutlabs.org/recipients.html
ABOUT BREAKOUT LABS
Breakout Labs, a program of the Thiel Foundation, is reshaping the way early-stage science and technology companies are funded. Founded in November 2011, Breakout Labs supports 16 companies in areas ranging from food science and biomedicine to clean energy. For many of these companies, Breakout Labs was the first external investor. Breakout Labs provides up to $350,000 for companies to achieve specific milestones that are critical to their development. Successful grantees will return a capped royalty stream and a small percentage of equity in their company to Breakout Labs and, thereby, contribute to the next generation of scientific innovation. For more information, see www.BreakoutLabs.org.
ABOUT THE THIEL FOUNDATION
The Thiel Foundation defends and promotes freedom in all its dimensions: political, personal, and economic. The Thiel Foundation supports innovative scientific research and new technologies that empower people to improve their lives, champions organizations and individuals who expose human rights abuses and authoritarianism in all its guises, and encourages the exploration of new ideas and new spaces where people can be less reliant on government and where freedom can flourish. For more information, see www.ThielFoundation.org.
Contact:
Torch Communications
Ross Gillfillan, 415-599-4403
ross@torchcommunications.com
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