Bactolife to raise €7 million in a round backed by Novo Seeds and Selfinvest.
Bactolife, a Copenhagen, Denmark-based biotech company, announced the completion of a €7 million ($8.4M) capital investment round.
The money was raised from investors from Denmark, led by Novo Seeds, which contributed with 5 million, and joined by Selfinvest. Selfinvest is a private holding and investment company for Torben Østergaard-Nielsen, a Danish tanker and bunker tycoon.
Bactolife, founded in 2017 by Mads Laustsen (CEO), David Kauffmann, Per Falholt, Andreas H. Laustsen and Sandra Wingaard Thrane, is working for developing novel biological solutions to reduce the risk of gastrointestinal infections in animals and humans.
They developed a technology based on nanobodies for management of bacterial virulence without the use of antibiotics. Its proprietary platform consists of technology for selecting and producing virulence inactivating proteins (VIP), without targeting growth or killing the bacteria directly. VIPs are stable and highly cost-effective and can be produced in large-scale using state-of-the-art systems for biomanufacturing.