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    Sofinnova Industrial Biotech

    Biosyntia raises €17.5 million in Series B follow-on to advance sustainable production of active ingredients

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    Industrial Biotech

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    Joško Bobanović

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    COPENHAGEN, Sept. 30, 2022 — The Danis biotech pioneer Biosyntia has closed a follow-on investment to its series B, making the round oversubscribed and totaling €17.5 million. Investment comes from three new investors, as well as two existing investors, and will support Biosyntia’s production of sustainable active ingredients for personal care, and human and animal nutrition.

    Biosyntia is a leading industrial biotech company producing active ingredients with world-leading fermentation processes for vitamins and other active ingredients. Biosyntia is addressing a significant and growing nutraceutical market. Active nutraceutical ingredients are a key component in dietary supplements, pharmaceuticals, personal care, food, drinks and animal nutrition, due to their extensive health benefits. Moreover, Biosyntia’s production process offers an alternative to today’s production processes, which are mainly based in Asia. This bring value to customers by decentralising their supply chain, providing supply security, quality and traceability.

    With its proprietary fermentation technology, Biosyntia can produce active ingredients as a sustainable, natural and high-quality alternative to current production methods. Specifically, Biosyntia’s technology offer an alternative to chemical-based production, resulting in less chemical waste and air pollution. Furthermore, Biosyntia offers an alternative production method to plant active materials, which require significantly less land and less organic solvents in the production. Ultimately, Biosyntia provides consumers with natural and sustainably produced active ingredients that support their health and well being.

    One of the new investors in Biosyntia is Praesidium, a private investment office that seeks technologies that can make a positive difference to the world’s food supply chain and reduce climate impact:

    “Biosyntia’s proprietary fermentation discovery platform, and their ability to apply it to the production of essential nutrients, allows them to solve problems which can transform the way we address nutritional deficiencies. We’re proud and excited to be able to join and support them for the next part of their journey,” says Graham Ellis, Partner at Praesidium.

    Biosyntia aims to become a leading B2B ingredient manufacturer, selling its ingredients world-wide to a range of customers within consumer products. This investment enables Biosyntia to scale the production of the world’s first natural and sustainably produced biotin, vitamin B7, an essential B-vitamin used in a range of applications. Biosyntia will further commercialize additional active ingredients, as well as advance their technology platform around vitamins and other health nutraceuticals, to become a multi-ingredient manufacturer.

    The round was led by the European Circular Bioeconomy Fund (ECBF), who alongside existing investors, Novo Holdings and Sofinnova Partners, invested in a series B close in June this year. The investors are now joined by Praesidium and Vækstfonden in the follow-on closing. All five investors are seasoned within biotechnology with a significant portfolio of technology investments.

    “I am excited to bring on three new investors to our company with this funding round. This forms an extremely strong syndicate of investors with impressive industry expertise that can actively support us in reaching our growth targets and ambitions“, says Martin Plambech, CEO at Biosyntia.

    With this investment, Biosyntia will be at the forefront of bringing technology to the market that enables the green transition in manufacturing.

    For questions please contact: Martin Plambech, CEO, MP@biosyntia.com

    About Biosyntia
    ‍Biosyntia is an industrial biotech company developing bio-based manufacturing processes with all critical capabilities for success in-house – stretching from microbial engineering, fermentation optimization, product purification, formulation to sales. The company is today 20 scientists and business developers, operating from Biosyntia’s lab and offices in Copenhagen, Denmark. Biosyntia focuses especially at developing more natural and sustainable processes for active ingredients used in beauty and nutrition such as vitamins, antioxidants, and similar ingredients. The company has developed proprietary technologies such as Biosynthetic Selections™, 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.
    For more information, please visit: www.biosyntia.com

    About the European Circular Bioeconomy Fund
    ‍The European Circular Bioeconomy Fund (ECBF) invests growth capital in ambitious and visionary entrepreneurs and encourages private and public investors to assist in the development of late-stage bioeconomy companies. The fund aims to make sustainable investments in our future and speed up the shift from a fossil-based to a circular, bio-based economy. Headquartered in Bonn and with a total fund volume of € 300m, to which the European Investment Bank (EIB)has committed €100 million, ECBF will be an important financial instrument in achieving the European Green Deal goals of making Europe climate-neutral by2050.
    For more information, please visit: www.ecbf.vc

    About Vaekstfonden (The Danish Growth Fund)
    ‍Vaeksfonden is the Danish state’s investment fund. Working in close collaboration with banks and domestic and international investors, Vaekstfonden discovers and develops the companies that Denmark cannot afford to miss out on. The power of innovation, yield to society and responsibility are the three signposts that guide Vaekstfonden in finding and choosing new projects. Since 1992, Vaekstfonden has contributed more than
    DKK 44 billion to help develop and grow more than 11.000 companies.
    For more information, please visit: www.vf.dk

    About Praesidium
    ‍Praesidium, a private investment office founded in 2016 by highly experienced European and American professionals from international private equity, consulting, and banking. Praesidium seeks to invest in the most attractive verticals, which will benefit from higher growth and strong tailwinds brought by secular trends.This is achieved by partnering with the most recognized specialists in every theme to access the best opportunities in private markets in North America and Europe. Praesidium builds on the know-how and track record of its investment committee and senior team, comprising some of the most experienced professionals within private markets, who have collectively invested more than US$ 200B in the last35 years.
    For more information, please visit: www.praesidium.eu

    About Sofinnova Partners
    Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future. Founded in 1972, Sofinnova Partners is a deeply established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2.5billion under management.
    For more information, please visit: sofinnovapartners.com

    About Novo Holdings A/S
    Novo Holdings A/S is a 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 and Novozymes A/S, and is responsible for managing the Novo Nordisk Foundation’s assets.
    Novo Holdings is recognized as a leading international life science investor, with a focus on creating long-term value. As a life science investor, NovoHoldings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets. Novo Seeds is the early-stage investment and company creation team of NovoHoldings, focusing on identifying, building and investing in exceptional startups founded on strong science. For more information, please visit: www.novoholdings.dk

    Biosyntia management team, Jochen Förster CTO, Martin Plambech CEO, Hans J. Genee CSO.
    Biosyntia management team, Jochen Förster CTO, Martin Plambech CEO, Hans J. Genee CSO.photo: BIOSYNTIA

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