May 23, 2018
Biosyntia raises €4 million in Series A financing to advance its microbe engineering technology and bio-based product pipeline
Biosyntia has today announced a Series A investment in the company of 4 million euros from Sofinnova Partners, a new investor, and Novo Seeds, an existing investor. The investment will allow the company continued developments of its lead products and bring it closer to commercialisation.
Biosyntia is an industrial biotech company using a unique microbe selection and engineering technology to dramatically decrease risk, cost and time for developing bio-based manufactured products. The company leverages its technology to focus on developing bio-based and sustainable vitamins, ingredients and nutraceuticals. These products directly address the market demand for replacement of oil-derived products with natural substitutes highly sought by companies and consumers worldwide. The new investment will secure the advancement of the proprietary technology and know-how as well as strengthening the company’s pipeline of products.
“Our team is proud of the recognition this investment gives. The investment will accelerate our technology and product development– also by tapping into our investors’ experience with building industrial biotech companies”, says Martin Plambech, CEO of Biosyntia, and continues “with both Sofinnova Partners and Novo Seeds on board, we have a very strong investor base, and we see this investment as a first of several steps for Biosyntia to become a globally leading industrial biotech company.”
“Biosyntia has a unique, world-class microbe engineering technology allowing it to rapidly develop replacements for oil-derived products consumed in our daily life. With an extraordinary team and large, growing market opportunity they have all the ingredients for success”, says Joško Bobanović, partner with Sofinnova Partners’ Industrial Biotechnology Fund.
“We have been supporting Biosyntia since its inception and have witnessed a tremendous progress resulting in a pipeline of new products. Beyond a unique selection technology, we find a highly qualified and dynamic team – the reason we continue to back the company”, says Søren Møller, Managing Partner with Novo Seeds.
For further information, please contact:
Martin Plambech, CEO, Biosyntia, email@example.com
Biosyntia is an industrial biotech company developing bio-based manufacturing processes with core capabilities within strain engineering and fermentation. The company was founded in 2012 by Hans Genee, Andreas Lausten and serial entrepreneur, DTU Professor Morten Sommer. Today, 15 scientists and business developers operate from Biosyntia’s lab and offices in Copenhagen, Denmark. Biosyntia develops microbes and processes at an unprecedented speed and efficiency by employing its Biosynthetic Selections™ technology which dramatically reduce the risk, cost and time for developing fermentation processes. The company has won more than 15 recognition awards, including being one of the most innovative SMEs in Europe (EuropaBio, 2016). For more information, please visit: www.biosyntia.com
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, France, the firm brings together 12 highly experienced investment professionals from all over Europe, the US and China. The firm focuses on paradigm shifting technologies alongside visionary entrepreneurs. Sofinnova Partners seeks to invest as a founding and lead investor in start-ups and corporate spin-offs, and has backed nearly 500 companies over 45 years, creating market leaders around the globe. Today, Sofinnova Partners has over 1,8 billion euros under management. For more information, please visit: www.sofinnova.fr
About Novo Seeds
Novo Seeds is the early stage investment arm of Novo Holding. Novo Holdings is a Danish private limited liability company wholly owned by the Novo Nordisk Foundation. It is the holding company of the Novo Group, comprising Novo Nordisk A/S, Novozymes A/S and NNIT A/S, and is responsible for managing the Foundation’s assets.
In addition to being the major shareholder in the Novo Group companies, Novo Holdings provides seed and venture capital to development-stage companies, takes significant ownership positions in well-established companies within life science and manages a broad portfolio of financial assets.
It is the vision of Novo Holdings to be recognized as a world-leading life science investor with a focus on creating long-term value. Read more at www.novoholdings.dk