Day 3Wednesday, 5 November 2025

Location: Room 2

In the current venture capital landscape, early-stage biotech startups face unprecedented challenges in securing funding amidst tightening financial conditions and heightened investor scrutiny. This session brings together some of Europe’s leading pre-seed and seed investors to share their insights, strategies, and perspectives on navigating this tough VC climate. Attendees will gain valuable knowledge on what early-stage investors are looking for in biotech ventures today, and how to guide early-stage projects towards key value inflection points and secure follow-on financing from top tier investors. From identifying emerging trends to understanding the nuances of investor decision-making, this discussion will provide actionable advice for entrepreneurs and stakeholders aiming to turn early innovation into successful companies and offers a unique opportunity to explore pathways to funding success in a challenging environment.

Location: Exhibit Hall Stage

Hear from leading industry media and get the pulse of the event with standout highlights, fresh perspectives, and key takeaways from the voices that shaped the three dynamic days of BIO-Europe. Gear up for BIO-Europe 2026 as we welcome you to…Cologne!

dawn-bio is a Vienna based biotechnology company dedicated to advancing treatments for the millions of people silently struggling with infertility. With our groundbreaking platform technology - a human stem cell-based embryo and implantation model – we are uniquely equipped to discover and develop molecules that enhance healthy live births in IVF. Today, IVF clinics choose the best embryos. With dawn-bio, they will be able to change their trajectory for the better.

Aitiologic is a precision diagnostics company developing AI-powered liquid biopsy solutions built on its proprietary Aitios® platform for circulating cell-free DNA (cfDNA) analysis. Founded in 2023 and headquartered in Vienna, Aitiologic combines genetic variant detection with epigenetic tissue-of-origin profiling, interpreted via cloud-based AI, to enable early, non-invasive, and high-resolution disease detection. The technology is based on IP originally developed by the founding team at Siemens Healthineers and is designed to address key limitations of current single-modality cfDNA assays in prenatal testing and oncology – specifically, the inability to pinpoint both disease location and molecular etiology. The Aitios® platform enables scalable multi-modal liquid biopsy, making it ideally suited for early-stage detection, targeted therapy, and longitudinal monitoring.

At bespark*bio, we are transforming the future of biotherapeutic manufacturing through advanced process development solutions and enabling technologies that accelerate drug development, reduce costs, and enhance scalability. Our approach tackles key biomanufacturing challenges, ensuring that life-saving therapies become more accessible and affordable. Traditional bioprocess development depends on resource-intensive, trial-and-error methods, requiring costly bioreactor runs and extensive laboratory work. This slows innovation and drives up costs. bespark*bio disrupts this outdated approach by integrating framework technologies and AI-based methodologies: • Framework technologies: Pre-developed modular process building blocks eliminate manual selection of process technologies, equipment and parameters. This streamlines development and enables fast and flexible process customization. • Machine learning, hybrid modeling and digital twins: Our AI-driven approach enables data-driven process optimization, predictive analytics, and scenario testing with minimal lab work, significantly boosting efficiency. By combining these elements, we cut experimental effort by up to 50%, resulting in: • Faster development timelines • Lower costs and resource consumption • Enhanced scalability and process control • Reduced risk and improved product quality While process optimization accelerates biomanufacturing, true innovation requires new biotherapeutic solutions. bespark*bio goes a step further by developing enabling technologies, such as a proprietary gene therapy system that enhances vector design and production. This breakthrough technology improves scalability and therapeutic outcomes, unlocking new possibilities for advanced biotherapeutics.

RNAnalytics is revolutionizing RNA therapeutic pipelines with modular, capillary electrophoresis–driven toolkits and AI-powered software. Founded in 2023 by Viktoria Enkmann (CEO & CSO) and Hannes-Oliver Burgstaller (COO & CFO), our Vienna-area team bridges cutting-edge assays and informatics to empower biopharma innovators worldwide. Our early collaborations with leading academic labs underline the robustness and scalability of our approach. Our benchtop box contains reagents, pre-validated protocols, and calibration standards to determine lipid nanoparticle (LNP) size distribution and mRNA encapsulation efficiency on any CE platform. Standardized sample preparation and automated peak integration reduce inter-lab variability by up to 80% and compress workflows from days to one-hour assays. Our cloud-native software ingests raw electropherograms, applies machine-learning algorithms to flag anomalies, and generates regulator-ready reports. By leveraging widely available CE instruments, our toolkit replaces costly DLS and bespoke HPLC methods, lowering capital barriers and scaling to high-throughput screening. Early adopters report a 30% acceleration in candidate selection and a 20% reduction in preclinical development costs. Looking ahead, RNAnalytics will launch assays for lipid composition mapping, payload integrity, and real-time stability studies. By democratizing advanced analytics and harmonizing data across R&D, quality control, and manufacturing, we aim to standardize LNP characterization—enabling safer, more effective RNA therapies to reach patients faster and at lower cost. Join us at BIO Europe to discover how RNAnalytics’ seamless integration of hardware, chemistry, and AI is reshaping the biotech landscape and accelerating the next wave of life-saving medicines.

RIANA Therapeutics is a spin-off from the University of Veterinary Medicine, Vienna (Vetmeduni), focused on developing novel anti-cancer therapies that target specific protein-protein interactions, such as oligomerization. This mechanism is common in transcription factors that drive cancer in certain conformations but are essential for normal cell function in others. Our lead target is the oligomerization of STAT5, a transcription factor active in leukemic cells but not in healthy ones. Genetic studies have validated that blocking STAT5 oligomerization can normalize aberrant oncogene activity. Our initial focus is on acute myeloid leukemia (AML), with plans to expand into additional indications as funding allows. Current AML treatments rely heavily on chemotherapy and offer limited survival benefits, particularly for older patients. Although new drugs are in development, most are not expected to substantially improve outcomes – underscoring the urgent need for better therapies.

At Discovery Evolution we are reshaping the pharmaceutical landscape with the goal to drug undruggable diseases such as cancers, autoimmune diseases, fibrosis, neurological disorders and many more. Our mission is to transform the process of antibody discovery to enable targeting protein receptors such as GPCRs. By moving discovery from the bench to the digital world, we set free from limitations of lab-intensive assays. The company was established in 2024 in Vienna, Austria, and currently consists of a small but agile team of 5 highly qualified scientists and entrepreneurs in the life sciences.

Cycuria Therapeutics is a preclinical-stage oncology startup based in Graz, Austria, founded by scientists from the Medical University of Graz, TU Munich and the University of Heidelberg. We are pioneering a novel protein-based targeted therapy for hematological cancers and beyond. Acute myeloid leukemia (AML) is a rapidly progressing disease of the hematopoietic system with poor long-term survival, particularly in older patients and those with high-risk mutations. Current therapies are often associated with severe side effects and high relapse rates. Cycuria is developing CUR-101, a novel protein-based targeted therapy for AML that selectively targets tumor blasts and tumor-initiating stem cells while preserving healthy hematopoiesis and overall physiology. This approach enables durable efficacy without dose-limiting toxicity, as demonstrated in multiple preclinical and patient-derived disease models. By combining excellent tolerability with long-lasting efficacy, our therapeutic strategy aims to address significant unmet needs in cancer treatment, offering a new solution where conventional therapies have fallen short.

Graph is a precision immunology techbio that leverages perturbation modeling from primary patient cell samples combined with multi-omics data to deliver transformative targeted therapies and biomarkers for immune-driven diseases. Graph believes that due to an incomplete understanding of complex immune-mediated diseases, millions of patients are left without adequate treatment options - and AI trained with complex disease data can solve this.

p4b (print for biotech) is an Austrian deep-tech startup dedicated to solving one of the biggest challenges in biotechnology: making bioprocess scale-up predictable. Based in Wolkersdorf near Vienna, p4b brings together expertise in biotechnology, software development, AI, and computational fluid dynamics (CFD) to build a bridge between lab research and industrial production. In drug development and biomanufacturing, processes that work well in the lab often fail when transferred to large-scale reactors. These setbacks cause costly delays and slow down the delivery of new therapies to patients. p4b was founded to close this critical gap. By combining digital design tools, AI optimization, and advanced 3D printing technologies, the company develops reactor systems and tools that allow lab-scale experiments to better reflect real production conditions. The vision of p4b is clear: to enable faster, safer, and more efficient bioprocess development worldwide. Instead of trial and error in scale-up, companies gain access to solutions that increase predictability, reduce risk, and save valuable development time. What makes p4b unique is its multidisciplinary DNA. The team unites deep expertise in computational methods with practical knowledge in bioprocessing, creating a platform where digital models meet real-world application. This foundation, strengthened by collaborations with research institutes and industry partners, positions p4b as a pioneer in digitally driven bioprocess innovation. p4b – making scale-up predictable.

ARIVA Med is a privately owned start-up company located in Vienna, Austria dedicated to the research and development of innovative therapies (small-molecules) for acute and life-threatening bacterial infections addressing the global challenge of antimicrobial resistance. ARIVA Med was founded mid 2024 to continue the R&D success story of pleuromutilin research that had resulted in the approved pleuromutilin antibiotic Lefamulin (Xenleta). ARIVA Med has a unique patent portfolio and in-depth knowledge about pleuromutilin and cephalosporin structure-activity relationship, and an extensive compound library and database. More than 22 years of experience of the leadership team in antibiotic development and a strong track-record comprising all phases of drug development are the basis for proceeding the ARIVA Med pipeline programs.

aTENSION.life – Precision in Hypertension Diagnostics aTENSION.life is an innovative life science company based in Vienna, Austria. Our vision is to improve care for hypertension patients worldwide through precise diagnostics and personalized therapy. Our proprietary ALDO+ technology platform is based on state-of-the-art mass spectrometry and analyzes the Renin-Angiotensin-Aldosterone System (RAAS) with unparalleled accuracy by using just a single blood sample. This allows physicians to identify possible underlying causes of treatment-resistant hypertension precisely and at an early stage, avoiding trial-and-error approaches. Additionally, the ALDO+ test provides insights on anti-hypertensive drug efficacy and specific renal functions - laying the foundation for targeted treatment and improved quality of life. The first product based on this platform, ALDO+PA, is a CE-IVD-certified blood test for the diagnosis of Primary Aldosteronism (PA), one of the most common yet frequently underdiagnosed causes of resistant hypertension. ALDO+PA delivers reliable results without the need to discontinue medication and is currently available in Austria through our partnership with labors.at. Products of the ALDO+ technology will be launched across DACH markets by 2026, with first customers already successfully implementing the technology in Germany, Switzerland, as well as in the US. Through our scalable Prep’n’Ship™ model, we make mass spectrometry-based precision diagnostics accessible to any laboratory, regardless of existing infrastructure. We collaborate with physicians, laboratories, and healthcare providers to establish new standards in hypertension diagnostics and to sustainably improve cardiovascular care.

Krems Bioanalytics is a contract research institute providing cutting-edge bioanalytical services in the fields of immunology, hematology, and oncology since 2014. We have a long-standing expertise in the development and validation of customised and GxP compliant analytical assays for large molecules and vaccines. We offer sample analytics for early and late preclinical studies (R&D or GLP) and for clinical trials (GCP).As a university-based contract research organisation (CRO), we are uniquely positioned to bridge the gap between cutting-edge research and pharmaceutical drug development. The university’s resources, such as its facilities and expertise, can be utilised to provide a strong foundation for preclinical and clinical development. We can leverage these resources to conduct research and development in a quality environment necessary for regulatory approval. A partnership with Krems Bioanalytics opens doors to public funding, innovative technology, and expertise from academia and industry. With our expertise, state-of-the-art facilities, and commitment to quality, we are the ideal partner for those seeking to accelerate their drug development programmes and bring new therapeutics to market.

JOANNEUM RESEARCH HEALTH is committed to research in the medical field and health-related disciplines, positioned at the crossroads of technology and medicine. HEALTH - Institute for Biomedical Research and Technologies develops comprehensive, interdisciplinary solutions to problems encountered in the fields of medicine, pharmacy, medical technology and health care research. Our clients are mainly pharmaceutical (R&D, early development, translational, manufacturing), biotech and medical device companies. Based on our unique Open Flow Microperfusion (OFM) technology platform, we offer preclinical PK/PD studies using ex-vivo and in-vivo animal and human models in the application areas of dermatology, neurology, oncology and metabolic disorders. Our own early-phase clinical study capability is supplemented by our newly expanded clinical CRO partnership in USA and India. Together, we are able to provide fully translational drug development support for originator and generic pharma alike.

RxPx is a SaaS platform that streamlines and simplifies the complex and costly process of onboarding, supporting and monitoring patients on specialty therapies. We license our platform to leading life sciences companies who need to deliver adherence and workflow support to patients and doctors at scale. The platform is used in 80+ countries in 12 languages and has won numerous awards for its "No Patient Alone" mission and work in improving health access and outcomes. In 2024, we began work on the AI Clinical Buddy initiative and formed a small team to address the urgent need for scalable patient recruitment, retention and engagement for clinical trials, with a particular focus on diversity and personalization.

PersonGen BioTherapeutics is a clinical-stage, and the earliest and pioneering enterprise engaged in CAR-T R&D in China. Four CAR-Ts have been approved for IND, with independent, end-to-end development and manufacturing capabilities for plasmids, lentivirus, and CAR-T cell processes. Investors include those top-tier VCs, including: Anke Bio, CICC Capital, Huatai Purple Gold, etc.

Zhongmou Therapeutics is a global clinical-stage biotechnology company advancing transformative gene therapies to restore vision in patients with inherited and acquired retinal degenerative diseases. Founded by Dr. Yin Shen, an internationally recognized expert in neuro-ophthalmology, the company is driving the next wave of mutation-independent and gene-specific treatments for blindness, grounded in strong scientific innovation and clinical execution. Zhongmou partners closely with investors, physicians, and patient communities to accelerate clinical development and ensure patient-centric innovation with a shared vision of accessibility, durability, and impact.

Technological Edge: Proprietary Optogenetic Platform
Zhongmou had developed a proprietary adeno-associated virus (AAV)-mediated optogenetic gene therapy platform to reintroduce light sensitivity in the retina, bypassing dysfunctional photoreceptors. The company's next-generation opsin, PsCATCh2.0, is delivered to inner retinal cells (bipolar and ganglion cells) via intravitreal injection. This platform enables vision restoration independent of underlying genetic mutation, providing a versatile and scalable approach for diseases such as retinitis pigmentosa and age-related macular degeneration (AMD). Key advantages include:

•Broad applicability is suitable for both inherited retinal degenerations (IRDs) and acquired retinal diseases involving photoreceptor degeneration.

•Natural-light activation (no external devices required), enabling functional object recognition and mobility in everyday environments.

•Single-dose durability, with sustained safety and long-lasting efficacy demonstrated in preclinical and clinical settings.

•Mutation-agnostic addresses large patient populations with no approved treatments.

The company welcomes collaboration with leading investors and pharmaceutical partners to fight blindness.

NETRI is an Techbio industrial start-up whose mission is to improve human health through the discriminating power of the nervous system. The company offers a Neuron-as-a-sensor suite (NaaS) to gain insights into the safety and efficacy of clinical or chemical compounds. NETRI focuses on pain quantification and pursues an exploratory pipeline in oncology-related adverse events, dermo-cosmetics, neurological disorders and neurotoxicity.
Leveraging the natural capacity of neurons to encode biological interactions into electrical impulses, the NaaS suite features the world-first compartmentalized electrophysiology platform in standard 96-well plate format - NeuroFluidics™ MEA - which acts as a data generation hub for its digital signature libraries of tested and reference compounds. To enable the prediction of clinical outcomes, the proprietary suite includes calibrated neuronal cells, Organ-on-chip hardware, AI-trained software, digital libraries and methods.

NETRI's Neuron-as-a-Sensor (NaaS) platform models Chemotherapy-Induced Peripheral Neuropathy (CIPN) using human iPSC-derived sensory neurons on compartmentalized MEA chips. Integrated with multimodal stimulation and proprietary analytics (UpLink/DataLink), NaaS enables high-resolution, mechanistic profiling of CIPN phenotypes. This predictive in vitro system outperforms animal models for early neurotoxicity screening.

NeuroSyn is a spin-out project of the University of Graz and Antagonis Biotherapeutics based in Austria focusing on innovative drug discovery and early drug development for Parkinson’s disease and other neuroinflammatory-related diseases. We specialize in targeting cell-surface glycans - a largely untapped and underexplored class of molecules present on all cells and in the so-called extracellular matrix. With deep expertise and a strong scientific track record in glycan biology, NeuroSyn aims to pioneer breakthrough neurological therapies using these novel targets.

Anemos Therapeutics is an Italian biopharmaceutical company focused on developing innovative dry powder inhalation therapies for rare respiratory diseases. The company leverages its proprietary ANEMOS™ particle engineering technology to design highly targeted, on-demand inhaled treatments that offer rapid, localized action with minimal systemic exposure.

Its lead program is a first-in-class dry powder formulation of a voltage-gated sodium channel inhibitor, engineered for upper airway delivery to address chronic cough in idiopathic pulmonary fibrosis (IPF)—a progressive and life-limiting rare lung disease. Chronic cough affects up to 85% of individuals with IPF and remains an area of high unmet medical need, with no effective targeted therapies currently available.

Anemos’ inhalable formulation is designed for on-demand administration, providing fast and sustained relief from acute cough episodes through localized action at the cough reflex trigger zones. The formulation incorporates a biocompatible polymer to enhance mucosal retention and prolong the effect, while avoiding risks associated with systemic drug exposure.

The product concept has been validated in a preliminary proof-of-concept study in a cough model in healthy volunteers, demonstrating strong tolerability and effective modulation of the cough reflex. The company is preparing for clinical studies in the target patient population and intends to pursue Orphan Drug Designation (ODD) in both Europe and the United States.

Anemos is led by a team with extensive expertise in inhalation technologies, clinical development, and respiratory drug delivery. Alongside its lead program, the company is advancing a pipeline targeting chronic cough and other rare pulmonary disorders. Anemos is seeking strategic partnerships and investors to support the next phases of clinical development and global market access.

PacingCure B.V. is a biotech spin-off of Amsterdam UMC. It specializes in developing first-in-class and best-in-class curative precision gene therapies for treatment of cardiac arrhythmias and heart failure with a long term vision of becoming a world leading gene therapy company curing both orphan and highly prevalent cardiac diseases with high unmet medical needs. Our therapies are precisely aimed at the disease mechanism and delivered directly into the disease core.

PacingCure has achieved proof-of-concept, secured European Innovation Council (EIC) Pathfinder, EIC Transition, and Eurostars funding, and is preparing for clinical development and investment rounds (series A).

Menten AI is developing generative AI to design cyclic peptide therapeutics for challenging drug targets beyond the reach of small molecules and biologics. Its proprietary platform is capable of designing potent macrocycles with desirable drug properties including oral bioavailability and cell-permeability. The team has shown in vitro and in vivo validation of their platform for complex drug targets including challenging protein-protein interfaces (PPIs). The company has partnerships with top-10 pharma (e.g. Bristol Myers Squibb) to accelerate their preclinical drug discovery efforts. Menten AI is backed by top VCs including Social Impact Capital, Uncork Capital, Khosla Ventures, and Y-Combinator.

Zehna Therapeutics is an early stage biotech company developing non-bacteriocidal inhibitors of selected gut-microbial pathways clinically and mechanistically linked with chronic metabolic diseases. Our compounds inhibit the gut microbial enzyme CutC, preventing the conversion of dietary choline to trimethylamine and subsequently to trimethylamine N-oxide within the host. High systemic levels of trimethylamine N-oxide have been linked to accelerated development of both cardiovascular and chronic kidney disease, as demonstrated in animal models and large-scale clinical cohort studies. Chronic Kidney Disease (CKD) is our lead indication.

CARBioTHERAPEUTICS(CARBio) was founded in 2021, based on proprietary multifunctional CAR-T technologies that have been under development since 2017.

- CARBio has successfully developed 83 CAR gene vectors, including CARBio 022 targeting CLDN18.2 for gastric cancer, and has completed preclinical trials.

- CARBio is currently seeking strategic global partners to advance its innovative in vivo CAR-T platform toward clinical trials. Our core team consists of 15 elite members specializing in CAR-T development, supported by advanced laboratories and strategic alliances with C Bio and Medici Bio. We develops high-performance CAR-T platforms for solid tumors, blood cancers, and autoimmune diseases. The company has established a differentiated CAR-Pool Platform, utilizing AI and patient-derived organoids to screen effective candidates.

- CARBio is also pursuing in vivo CAR-T using LNP vectors in collaboration with leading biotech partners.

- CARBio aims to overcome the limitations of existing CAR-T therapies, such as low efficacy in solid tumors, complex and costly ex vivo manufacturing, and lack of durable response due to the tumor microenvironment. Recent gastric cancer clinical trials of a competitor showed ORR of 35.3% (vs. 3.8% control) and median OS of 9.3 months (vs. 6.9). We expect to show better efficacy than this. CARBio holds several patents including:

- KR 10-2025-0095352: Signal transduction regulator + switch molecule

- KR 10-2023-0166380: Antigen-binding domain-expressing immune cells <Summary of Key Pipeline and Preclinical Results>

- 83 CAR vectors designed and manufactured.

- Lead candidate: CARBio 022 (CLDN18.2 CAR-T) demonstrated robust anti-tumor effects in repeated in vivo gastric cancer models.

- In vivo CAR-T pipeline entering early-stage clinical validation.

- Current pipeline includes:

• 19 blood cancer/autoimmune disease candidates (e.g., CD19, BCMA)

• 15 gastric/pancreatic cancer candidates

• 3 liver cancer candidates

Jantar GmbH is a one-man R&D company focussing on the development of dicholine succinate (DISU) as novel treatment of chronic rhinosinusitis.

DISU: -OOC-CH2-CH2-COO- [HO-CH2-CH2-N+(CH3)3]2, administered as 7% aqueous solution in a nasal spray. DISU has GRAS status (generally recognized as safe) by the FDA.

The only objective of Jantar is to advance the development of DISU to the state of providing clinical proof-of-concept. This has been achieved by 11 well documented case studies. They provided the basis for a PCT patent application filed in early 2025.

LigniLabs is a spinoff of the Max-Planck-Institute for Polymer Research in Mainz, Germany. Founded in 2022, Since 2023, we have advanced our product development and received innovation awards. In 2024, our SPRIN‑D validation contract confirmed the versatility of LigniCAPS and expanded our technological focus. During 2024 and 2025, our portfolio was further strengthened by a publication in Nature and new patents in the field of biobased flame retardancy using the charing characteristics of lignin

BetterStrains has developed a synthetic biology platform that makes E. coli genetically stable for continuous biomanufacturing. The technology allows upgrading existing strains to stable long-lasting producers to make the production of biomolecules more resource-efficient. We enable an easy switch to continuous production reducing scale-up risks, enable consistent and high yield for weeks instead of hours and substantial reduction in OPEX, CAPEX and overall production costs.

WMT has developed a new proprietary small molecule platform of so-called "translational trap" ("TT") molecules. TT drugs inhibit protein translation but only in cells which are massively proliferating, activated by immune stimuli or cytokines or virus-infected. TT drugs can be applied for cancer, chronic and acute inflammation as well as certain acute viral infections.WMT has raised its first funding rounds from private investors and has elected a first clinical candidate for applications in Rheumatoid Arthritis/SLE/autoimmune vasculitis. A second programme is geared towards treatment of viral infections.
WMT has attracted a prestigious SPRIN-D research grant and is looking for additional investors to fund its entry into clinical development.