Seed funding for BIONCaRT (formerly BioPlanta)

With legal support from GRUENDELPARTNER, bm-t beteiligungsmanagement thüringen GmbH (bm|t), together with the TGFS Technologiefründerfonds Sachsen, private investors and the founder, has invested a seven-figure sum in the Saxony-Thuringia-based life sciences company BIONCaRT (formerly: BioPlanta) as part of a seed funding round. BIONCaRT is conducting a Phase I/IIa clinical trial to secure market authorisation for its human stem cell therapy for the treatment of focal cartilage damage in the knee joint.

bm|t, based in Erfurt, is a subsidiary of the Thüringer Aufbaubank and the leading provider of venture capital and risk capital financing in Thuringia. bm|t currently manages 12 funds with a total volume of around €445 million, which invest in innovative companies across almost all sectors and at all stages of corporate development – both in the start-up and growth phases – or in business succession scenarios.

GRUENDELPARTNER’s M&A, Venture Capital and Private Equity practice group is one of the most experienced and best-staffed advisory units in Central Germany and supports investors and entrepreneurs at all stages of development, particularly in business start-ups, business development, corporate financing and all exit processes.