NSA Ventures Invests in 3Z
NSA Ventures has entered into an investment agreement with 3Z ehf. The company aims to market a new method for the pharmaceutical industry to gauge the effectiveness of certain molecules on the central nervous system. The system promises to be more effective and economical than the processes currently in use.
The method is based on using zebrafish (a tropical freshwater fish) to signal whether a certain molecule affects the nervous system. That information is then used to isolate the molecules that show the potential to offer medical benefits.
The current market conditions in the pharmaceutical industry are very favorable to 3Z since there is a shortage of new methods to screen molecules for medical effectiveness. Furthermore, spending on research for diseases of the central nervous system has decreased, putting added strain on available resources to be put to use in a more efficient manner. Also, increased focus on animal welfare in laboratory work amplifies the need for alternative methods. 3Z's technology meets all these needs.
3Z's methods are based on scientific research at the University of Reykavík in Iceland. The university has supported the research in various ways, including providing the company with top notch facilities on the university grounds. 3Z has also enjoyed the support of the Icelandic Technology Fund.
The founders of 3Z are Mr Karl Aegir Karlsson, PhD, and lecturer at the University of Reykjavík; and Haraldur Thorsteinsson. Both have extensive experience in neuropshychology and neurology.
Helga Valfells, CEO of NSA Ventures, says: "We feel it is especially gratifying when a promising business idea is generated in the scientific community associated with our universities. We have great confidence in the 3Z team which combines a solid academic background with great entrepreneurial drive."
Karl Aegir Karlsson, CEO and founder of 3Z, says: "NSA Ventures gives us access to a wealth of knowledge as well as providing us with a financial foundation. We have very high hopes for our co-operation in the future."
Ari Kristinn Jónsson, rector of Reykjavik University, says: „Reykjavik University is focused on being a venue for cutting-edge scientific discovery which leads to increased value creation and new jobs. We provide support right from the basic research stage to establishment of business start-ups based on the science. Watching the development at 3Z has therefore been especially enjoyable. The addition of NSA Ventures to the support network for 3Z will provide the necessary financial backing and the business know-how to help the company reach further towards its goals."