The family office investment vehicle Massa Investment Group, that is featured in our list of single family offices in the United States, is usually known for investments in real estate and hospitality. But, since June 2019 the group is also active as a biotech investor. The €12M Series A funding round of German biotech startup Modag GmbH allegedly completely came from the Miami-based single family office.
Modag: research on drugs against Parkinson and Alzheimer
Modag works on drugs against neurodegenerative illnesses like Morbus Parkinson or Morbus Alzheimer. According to the German company, its approach combines targeted “small molecule therapeutics with the right diagnostic tools”. The lead drug of the company is anle138b, which aims to halt the further progression of multiple system atrophy (MSA). Anle138b builds upon the fact that proteins like α-synuclein form disease-specific properties. Thereby providing a structural target for anle138b. In animal experiments with Parkinson-infected mice, anle138b managed to drastically reduce α-synuclein proteins, which forms the basic structures in Parkinson diseases.
Modag is based on the research of Prof. Dr. Armin Giese, a researcher of Ludwig Maximilian University of Munich and Prof. Dr. Christian Griesinger, a researcher at Max Planck Institute Göttingen. A first seed funding round was completed in 2013, including “Bayerische Patentallianz GmbH” and “Max Planck Innovation”. One of the lead investors was Dr. Torsten Matthias, who serves now as CEO. Dr. Matthias formerly worked as CEO of Aesku Group, a drug manufacturer and service provider.
Series A for further clinical studies from Massa Family Office
The recent €12M Series A funding round will be used to work on a Phase 1 research trial and further clinical studies. After the funding, Armin Giese will join the company as a scientific board member. The Florida based single family office Massa Investment Group is a investment vehicle that was in touch with the Modag founders for years. Usually, the company mainly works as a high-end boutique construction firm which is based on residential, hospitality and mixed-use projects. The family office also owns and runs nightclubs and restaurants in the Miami area.
Picture source: Lucas Vasques
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