Biosyntia, founded by Morten Sommer, Hans Genee and Andreas Hougaard Laustsen as a spin-out from the Centre for Biosustainability, at the Technical University of Denmark, has raised €11.5M Series B round from the European Circular Bioeconomy Fund (ECBF) and two of its existing investors, Sofinnova Partners and Novo Seeds. Copenhagen-based biotech develops bio-catalysts which provide complex chemical compounds by fermentation. Considering the population growth rate in the world, they are aiming to fundamentally change how ingredients are produced and make it possible to affordably supply nature’s ingredients without the need for increasing cropland or animal production and the use of petrochemistry. This capital will allow Biosyntia to expand its product line and get the first-of-its-kind natural and sustainable active ingredients into production.
Biosyntia closes a 11.5 million EUR round to launch world’s first bio-based vitamin B7
Biosyntia is a market innovator manufacturing sustainable and natural ingredients using precision fermentation. The biotech firm has a strong pipeline of active ingredients for use in beauty and nutrition products such as vitamins and antioxidants. ECBF leadSeries B with participation from existing investors, Sofinnova Partners and Novo Seeds.
Biosyntia has secured a Series B funding round of 11.5 million euros from a strong syndicate of experienced venture capital investors. The round was closed with an investment from the European Circular Bioeconomy Fund (ECBF) and the two existing investors, Sofinnova Partners and Novo Seeds, the early-stage investment and company creation team of Novo Holdings A/S. The investment will allow the company to enter the production phase of its first-of-its-kind, natural and sustainable active ingredients as well as expand the pipeline of products. The first product to be commercialized is a bio-based biotin (vitaminB7), for use in dietary supplements, food, and beauty products.
Biosyntia is an industrial biotech company delivering nature’singredients at scale both affordably and sustainably. 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.
“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, and continues “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 today’sincumbents.”
“We are very excited to strengthen ECBF’s industrial biotech portfolio by joining with Biosyntia and its current investors in the story of a sustainable change that has a very strong commercial basis. Vitamins and other ingredients should be produced from bio-based instead of fossil-based sources, which unfortunately is usually not the case today. Biosyntia has a promising position to change that, starting with their B-vitamins programs, where the company already is a technology leader”, states Jowita Sewerska, InvestmentDirector with ECBF.
