FundraiseSep 8, 2026, 10:56 UTC

PanTarg lands $1.5M convertible from BioInnovation Institute

What's the deal? PanTarg, a University of Copenhagen and Rigshospitalet spin-out, has raised a €1.3 million (roughly $1.5 million) convertible loan led by Copenhagen-based BioInnovation Institute. The award brings the total capital PanTarg has received from the institute to €1.8 million.

What's the endgame? PanTarg is developing an antibody-based cancer therapy that combines two targeted attacks in one treatment. It is aimed at aggressive cancers, including pancreatic cancer.

Why now? The startup had previously secured €500,000 from the institute. The fresh funding is meant to help it mature the technology and move toward commercial application.

What else? Alongside the capital, PanTarg retains access to the institute's Copenhagen innovation platform: laboratory facilities, a network of investors and advisors, and support in business development. The stated aim is to position it to attract further external investment.

PanTarg was one of six bioscience and deep-tech startups to each receive a €1.3 million convertible loan in the round, alongside 3Sonic, Inia Biosciences, Yngvi Bio, Proxi Biotech, and Sagava.

"The six companies have demonstrated strong potential and have already taken important steps from promising research to developing solutions that can make a real difference," said Trine Bartholdy, chief business officer at the institute.

The signal: The check sits in the mid-range for its category, at roughly the 67th percentile by amount. That reflects the institute's model of steady, convertible-based backing for early-stage science — a bet on maturing lab research toward market rather than chasing headline-grabbing rounds.