The insolvent startup Mk2 Biotechnologies has been saved by its sale to new investors. The young company from Planegg near Munich had to file for insolvency in November of last year. The Munich District Court appointed attorney Marc-André Kuhne of the law firm Dkr Kuhne Dr. Raith Rechtsanwälte as the provisional insolvency administrator. According to him, a buyer has now been found. The Munich-based company Protevo Bio, a newly formed consortium of investors, is taking over Mk2 Biotechnologies in the form of a transferred restructuring. This ensures the continued existence of the company. Startups and the preservation of all seven jobs.
Mk2 Biotechnologies was founded in 2020 and is working on a platform technology for cost-effective and individual Production of peptidesThis technology is based on both the company's own patent applications and exclusively licensed patents, which are intended to secure long-term competitive advantages. The startup aims to enable its customers to produce and market peptides independently.
Bringing the technology to market required significant investments in research and development, partially financed through development collaborations. A press release cites the global crisis in the life sciences sector over the past two years as the cause of massive cuts in the development budgets of key customers. This had a significant impact on Mk2 Biotechnologies' planned business development. When a planned investor process failed, filing for insolvency became inevitable. While the business continued, the insolvency administrator sought a buyer, which they have now found in Protevo Bio.
lawyer Kuhne commented:
"I am relieved that after intensive efforts to preserve the business, we have now reached a good investor solution. The company will now continue on its path and hopefully complete its development successfully."
