Probiodrug was founded in 1997 by Hans-Ulrich Demuth and Konrad Glund as a spin-off of the Leibnitz Institute "Hans-Knöll-Institut für Wirkstoffforschung" in Jena.
The Company has an outstanding track record in elucidating the structure and function of enzymes involved in the maturation of hormones. Its first drug development program focused on innovative oral compounds for the treatment of type 2 diabetes and was based on inhibitors of DP4 (dipeptidyl peptidase 4) – a proprietary discovery of Probiodrug.
Subsequently, the DP4-based diabetes program was licensed to pharmaceutical companies, including Merck & Co., Inc. and Novartis AG. In 2004 all metabolic assets of the DP4 program were sold to (OSI) Prosidion, the metabolic subsidiary of (OSI) Pharmaceuticals Inc. The first oral diabetes drug based on Probiodrug’s technologies reached the market in late 2006.
In 2007, Probiodrug acquired Ingenium Pharmaceuticals, Martinsried/Munich, to broaden its R&D capabilities and to ensure optimum pipeline progress. The Company also got access to state-of-the-art in vivo pharmacology and related infrastructure and closed a significant financing round of EUR 20.6 million in the context of the transaction.
Probiodrug is financed by top-tier investors and its management and has raised a total of $52 million so far. In addition, it raised money through several silent partnerships and received substantial R & D grants over the past ten years.