BioPhero raised a $3.5M seed investment round from Novo Seeds, Syngenta Ventures and Syddansk Innovation.
BioPhero ApS, a Copenhagen, Denmark-based industrial biotech company announced the closing of a seed investment of €3M ($3.5M).
As part of the investment, a new board will be formed, consisting of Michael Lee from Syngenta Ventures, Thomas Grotkjær from Novo Seeds, Peter Smedegaard from SDI and founder Dr. Irina Borodina. Hadyn Parry, former CEO of Oxitec with a background in the seeds and agrochemical business, has joined BioPhero’s board as the new chairman.
Kristian Ebbensgaard, BioPhero’s current Business Director with a background from Novozymes, has been appointed as the CEO of BioPhero, while Dr. Irina Borodina has been appointed as the Research Director.
BioPhero, founded in 2016 by Irina Borodina as a technology spin-out from the Technical University of Denmark, is a pioneer in the production of insect pheromones that are used as highly sustainable and eco-friendly active ingredients in products for controlling insect pests in agriculture. Pheromones are produced by insects, and they are used as signalling molecules that affect the behaviour of other insects. BioPhero produces a specific class of pheromones that insects also produce to attract each other when mating.