ECBF leads €11.5 million Series‑B in naturally produced vitamins from Biosyntia
Bonn/ Luxembourg — ECBF invests in its 8th portfolio company Biosyntia ApS from Denmark. Biosyntia is a precision fermentation company focused on replacing a fossil-based production process with a bio-based process for products such as vitamins and other ingredients. ECBF joins Novo Seeds and Sofinnova Partners in the shareholder structure and leads the current round of 11.5 million euros
Biosyntia has closed its EUR 11.5 million Series B round. The industrial biotech company provides ingredients from nature on a large scale in a cost-effective and sustainable manner. Using advanced biotechnology and proprietary R&D tools and knowledge, the company is developing unique precision fermentation processes to replace fossil alternatives. The company’s vision is to develop a natural and environmentally friendly production process for essential nutritional active ingredients that reduces the use of petrochemical processes and has a positive impact on the environment. Today, the company has several commercial partnerships, including collaborations with major market players such as Givaudan and WACKER.
The European Circular Bioeconomy Fund supports Biosyntia
Established in 2020, the ECBF fund (www.ecbf.vc) provides financial support to companies developing innovative technologies, circular business models and sustainable, bio-based products. This includes the industrial BioTech company Biosyntia, which produces nutritional psychology active ingredients sustainably and naturally. The production of these active ingredients, such as biotin, has so far been dominated by the use of petrochemical processes. Using biotechnology and proprietary knowledge and tools from research and development, the company develops unique precision fermentation processes to replace fossil resources.
The €11.5 million financing round was secured through the investment of ECBF and the two existing investors Sofinnova Partners and Novo Seeds, the early-stage investment and start-up team of Novo Holdings A/S.
Financing enables expansion of product range and start of production
Biosyntia intends to use the Series B financing to expand its product range on the one hand and to start the production phase of sustainably produced nutritional active ingredients on the other. The first product to be commercialized is a bio-based biotin (vitamin B7) that can be used in dietary supplements, food and beauty products.
“Our team is really proud of the recognition this investment brings. The investment enables us to finally offer our customers the first and only natural as well as sustainable alternative to the nutritional active ingredients available to them today,” says Martin Plambech, CEO of Biosyntia, and continues: “With ECBF joining investors Sofinnova Partners and Novo Seeds, we are improving an already strong investor base. Combined with our promising ingredient portfolio, we are poised to create a new global fermentation-based ingredient manufacturer that can challenge today’s incumbents.”
“We are very excited to strengthen ECBF’s industrial biotechnology portfolio by partnering with Biosyntia and its current investors to create a sustainable transformation that has a very strong commercial base. Vitamins and other ingredients should be produced from bio-based and not fossil sources, which unfortunately is mostly not the case today. Biosyntia is in a promising position to change this, starting with its B vitamin programs, where the company is already a technology leader,” said Jowita Sewerska, investment director at ECBF.
About the European Circular Bioeconomy Fund (ECBF).
The European Circular Bioeconomy Fund (ECBF) (www.ecbf.vc) invests growth capital in ambitious and visionary entrepreneurs and encourages private and public investors to support the development of late-stage bioeconomy companies. The fund aims to make sustainable investments in our future and accelerate the transition from a fossil-based to a circular, bio-based economy. The ECBF, which is based in Bonn and has a total fund volume of EUR 300 million, to which the European Investment Bank (EIB) has contributed EUR 100 million, will be an important financial instrument for achieving the goals of the European Green Deal, including making Europe climate neutral by 2050.
Biosyntia (www.biosyntia.com) is an industrial biotech company that develops biobased manufacturing processes and brings all mission-critical capabilities in-house — from microbial development to fermentation optimization, product purification, formulation and distribution. The company today consists of 20 scientists and business developers working from Biosyntia’s laboratory and offices in Copenhagen, Denmark.
Biosyntia focuses primarily on developing more natural and sustainable processes for active ingredients used in the beauty and nutrition industries, such as vitamins, antioxidants and similar ingredients. The company has developed proprietary technologies such as Biosynthetic Selections™ that dramatically reduce the risk, cost and time required to develop fermentation processes. The company has received more than 15 recognition awards, including one of the most innovative SMEs in Europe.