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NAVAN Closes Seed Funding Round

Investors include Amgen Ventures, HTGF and Hemi Ventures

SOUTH SAN FRANCISCO, Calif., April 25, 2019 – NAVAN Technologies, Inc. (NAVAN), a privately-held biotechnology company enabling the development of next generation cell and gene therapies through its novel, non-viral NanoStraw platform, announced it had closed a seed investment round led by Amgen Ventures, High-Tech Gründerfonds (HTGF), Hemi Ventures, and other institutional and private investors. Based on technology exclusively licensed from Stanford University, NAVAN is also supported by a National Science Foundation STTR Phase II award and is a resident company at JLABS @ SSF located at Oyster Point in South San Francisco, CA. The investment proceeds will be used to further NanoStraw platform development, scale-up production capabilities, and facilitate strategic collaborations and partnerships to accelerate the development of therapeutics programs.

Michael J. Nowak, Ph.D., President and Chief Executive Officer of NAVAN, stated, “Our NanoStraw technology provides direct intracellular access into hard-to-transfect human primary cells for the efficient delivery of any cargo into any cell. By using a physical, non-perturbative delivery mechanism (Nano-injection) for cell transformation, we remove many of the challenges presented by viral-based cell manufacturing while preserving cell function and viability.”

Dr. Lena Krzyzak, Senior Investment Manager at HTGF, added: “We are excited about NAVAN’s vision to facilitate cell and gene therapies. With the ability to accelerate new therapy development and the promise of scalable yet local cell engineering and manufacturing, NanoStraws will greatly decrease costs, making cell and gene therapies much more affordable and accessible.”

“Without cargo size limitations and the ability to deliver multiple different cargos into any cell, NAVAN is providing a universal solution for intracellular access while maintaining high cell quality, functionality and viability – critical for the efficacy and durability of these new therapies,” said Dr. Nowak. “Our mission is to enable high-quality, affordable and accessible point-of-care cell therapies for all patients.”

About Amgen Ventures

Amgen Ventures is dedicated to providing innovative biotechnology companies with resources to develop pioneering discoveries focused on human therapeutics.

For more than a decade, Amgen Ventures has invested in more than 30 emerging biotechnology companies to advance promising medicines and technologies that could ultimately make a difference for patients suffering from serious illnesses. Investments are made in areas of strategic interest and with the intent of earning a financial return. Amgen Ventures invests in North America, United Kingdom and Europe. https://www.amgenbd.com/aboutamgen/

About High-Tech Gründerfonds

High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven startups. With EUR 892.5 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 530 startups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech startups in a range of sectors, including software, media, internet, hardware, automation, health care, chemicals and life sciences. To date, external investors have injected over EUR 2 billion into the HTGF portfolio via about 1,400 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies.  https://high-tech-gruenderfonds.de/en/

About Hemi Ventures

Hemi Ventures, based in the center of Silicon Valley, invests in emerging technology startups in biotech, artificial intelligence applications and mobility sectors. We partner with entrepreneurs whose cutting-edge innovations unlock new frontiers for human potential.

‘Hemi’ (hēmi-) means ‘half’ in Greek. We serve as a complementary half to our founders. In addition to capital, we help founders establish pivotal relationships with thousands of industry partners and customers around the globe to build strong ecosystems that help them grow. For more information, visit www.hemi.vc

About NAVAN Technologies

NAVAN Technologies, Inc., (NAVAN) is an early-stage private biotechnology company developing a novel, proprietary NanoStraw platform to enable the next generation of cell and gene therapies. A non-viral physical delivery technology, NanoStraws provide direct access to the cytosol of a cell and hence enable the delivery of Any Cargo into Any Cell in a gentle, non-perturbative manner. High cell viability, the ability to have multiple deliveries of different cargos into a cell, and no cargo size limitations are hallmarks of the platform. Cell transformation via NanoStraws will drastically reduce the complexity, cost and technical challenges involved in cell therapy manufacturing, allowing NAVAN to actively pursue the development of innovative therapies in a broad range of indications with its strategic collaborators and partners.

For more information on NAVAN, please visit www.navan-tech.com

Contact Information
NAVAN Technologies, Inc.
Sarah Boyatzis, Chief of Staff
sarah@navan-tech.com

For Investors & Media Inquiries:
Tirth T. Patel, Investor Relations
Tiberend Strategic Advisors, Inc.
tpatel@tiberend.com
(212) 375-2694

Source: https://navan-tech.com/2019/04/25/navan-closes-seed-funding-round/

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