April 01, 2021 Press

SMP advises 42CAP on investment in Allcyte

Berlin – SMP advised early-stage investor 42CAP on its investment in the Viennese Biotech startup Allcyte. As lead investor of an international investor consortium, 42CAP invested alongside with Air Street Capital (UK), Amino Collective (Germany), VP Venture Partners (Switzerland) and PUSH Ventures (Austria) in the course of the growth financing. Allcyte, which specialises in cancer therapy, has so far used its approach to treat blood cancers. However, there are already plans to expand the treatment of other types of cancer, according to the company. 42CAP received comprehensive legal and tax advice from an SMP team consisting of Frederik Gärtner, Jens Kretzschmann, and Martyna Sabat. Previously, SMP had advised the venture capitalist in connection with numerous financing rounds as well as on the launch of its second VC fund generation.

"It is truly fascinating to see how already today in modern cancer therapy the use of artificial intelligence in interaction with biomedicine can help to directly determine and in this way maximize the degree of efficacy of different treatments as well as to specifically advance drug development in general," says Jens Kretzschmann. "We hope that this investment has laid the foundation for further revolutionary successes of the company fighting cancer and are very pleased that we were once again able to provide legal and tax advice to 42CAP on this exciting transaction", adds Frederik Gärtner.

42CAP investors Alex Meyer and Thomas Wilke invest very early in young companies with global ambitions. With eCircle, they themselves built one of the largest European SaaS companies and sold the profitable company to Teradata (NYSE:TDC) in 2012. The 42CAP credo, Peers among Entrepreneurs, reflects their investment approach to support data and technology-based business models, product-driven entrepreneurship, and sustainable business development. This background is appreciated by founding personalities such as Nicolas Reboud (SHINE, Paris), Inigo Ijuantegui (Ontruck, Mad-rid) and Alexander Igelsböck (Adverity, Vienna).

Allcyte is a BioTech startup based in Vienna. Using AI-based image analysis, Allcyte has developed a way to generate actionable insights into the functional activity of drugs and drug candidates directly in viable, primary tissue samples of human cancer patients at the single cell level. The company thus enables physicians to treat cancer patients with the most promising drug at the right time in situations where classical genetics-driven precision medicine does not give precise answers. It also enables pharma companies to choose the most promising drug candidates for clinical development in the right patient populations to maximize clinical study success rates and patient benefit. Allcyte started in 2017 as a spin-off of the Vienna CeMM Research Center for Molecular Medicine. Founded by Berend Snijder, Gregory Vladimer, Nikolaus Krall and Giulio Superti-Furga, the company currently employs around 30 people.

About SMP
SMP is a boutique law firm for tax and business law which is active in the core fields of Tax, Funds, Corporate, Litigation and Transactions. The attorneys and tax specialists at SMP represent a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations as well as private equity and venture capital funds. Founded in 2017, SMP has become one of the leading players for venture capital, private equity and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus and Chambers and Partners. Today, SMP has more than 60 experienced lawyers and tax specialists in three Offices in Berlin, Hamburg and Cologne.

Advisors 42CAP: SMP
Dr. Frederik Gärtner (Corporate), Associated Partner
Jens Kretzschmann (Tax), Partner
Dr. Martyna Sabat (Corporate), Associate


Frederic Sobottka
Marketing Manager, Cologne Office