Biosyntia raises €4M in Series A financing.
Biosyntia, a Copenhagen, Denmark-based biotech startup within synthetic biology and metabolic engineering, announced securing €4M ($4.7M) in Series A financing.
The money comes from existing investor, Novo Seeds, and from Sofinnova Partners and will be used to allow the company continued developments of its lead products and bring it closer to commercialisation.
Biosyntia, founded in 2012 by Hans Genee, Andreas Lausten and Morten Sommer, and led by CEO Martin Plambech, is an industrial biotech company using a unique microbe selection and engineering technology to dramatically decrease risk, cost and time for developing bio-based manufactured products.
The company leverages its technology to focus on developing bio-based and sustainable vitamins, ingredients and nutraceuticals. These products directly address the market demand for replacement of oil-derived products with natural substitutes highly sought by companies and consumers worldwide. The new investment will secure the advancement of the proprietary technology and know-how as well as strengthening the company’s pipeline of products.
Biosyntia is located at the Novo Nordisk Foundation (NNF) Center for Biosustainability in Hørsholm, 25 kilometers north of Copenhagen and raised €1.68M in its seed round, led by Novo Seeds.