(Alliance News) - Cube Labs Spa announced on Wednesday the establishment of two new companies to join the Cube Labs portfolio: Regenerabioma Srl and Myrtoviva Srl, both of which are 65 percent owned while 30 percent is distributed among their respective inventor partners and the remaining 5 percent is allocated to the National Biostructures and Biosystems Institute.

Cube Labs will support, in the short to medium term, an initial investment plan, of at least EUR150,000 for each company, for the validation of the proof of concept of the research projects, downstream of which the business plan and the resources necessary for its implementation will be defined.

"The establishment of the two new companies," the statement reads, "represents a significant step forward in Cube Labs' mission to support Italian scientific research and transform it into healthcare solutions to improve the health and well-being of patients.

Both research projects are currently in the intellectual property and technology development phase and will be the focus of future activities of the two newly formed startups.

"The expansion of the startup portfolio is a central element of our business plan in the medium to long term," comments Filippo Surace, founder and CEO of Cube Labs, and adds, "It is with pride that we welcome into our ecosystem two more promising scientific research realities in high-growth sectors, which arise from the exclusive partnership with the National Biostructures and Biosystems Institute.

Myrtoviva, the company explains in a note, aims to innovate the field of dietary supplements and cosmetic products through the combination of traditional Mediterranean phytoextracts and the use of nanotechnology.

Regenerabioma aims to revolutionize the treatment of complex wounds. With more than six million people in Europe suffering from diabetes-related wounds or chronic wounds, the startup's project focuses on innovating a system based on biocompatible materials, including a patented hydrogel and bacteria-based formulation.

Cube Labs' stock on Wednesday closed at parity at EUR2.12 per share.

By Chiara Bruschi, Alliance News reporter

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