ECBF joins Novo Seeds and Sofinnova Partners in EUR11.5m round in Biosyntia
The European Circular Bioeconomy Fund (ECBF) expands its industrial biotechnology portfolio by joining the financing Series B of danish Biosyntia ApS. Biosyntia is a precision fermentation company focused on bio-based production for products such as vitamins and other ingredients.
Using cutting-edge biotechnology and proprietary R&D tools and insights, the company is developing first-of-its-kind precision fermentation processes to replace fossil-based alternatives. Its vision is to "develop a natural and environmentally-friendly production process of essential nutritional active ingredients", reducing the use of petrochemically-based processes and driving a positive environmental impact. The company today has several commercial partnerships, including collaborations with large market players such as Givaudan and WACKER.
The EUR11.5m financing round was secured through the investment of ECBF, acting as a lead investor, and two existing investors, Sofinnova Partners and Novo Seeds, the early-stage investment and company creation team of Novo Holdings A/S.
Biosyntia intends to use the Series B investment to both expand its product range and start the production phase of its sustainably produced nutritional ingredients. The first product to be marketed is a bio-based biotin (vitamin B7) that can be used in food supplements, food and beauty products. Our team is truly proud of the recognition this investment gives. The investment enables us to finally offer customers the first and only natural and sustainable alternative to what is available for them today, says Martin Plambech, CEO of Biosyntia. With ECBF joining Sofinnova Partners and Novo Seeds as investors, we improve an already strong investor base. Combined with our promising pipeline of ingredients, we are in the making of a new, global fermentation-based ingredient producer that can challenge todays incumbents, he continues.
For ECBF which operational headquarter is in Bonn, Germany, while the legal body is residing in Luxembourg, it is the 8th investment in a row. Just in February this year the final closing of the fund with EUR300m has been announced.
©EuropeanBiotechNews/gkä
