Microphyt Raises €28.5 Million to Develop Its Portfolio of Microalgae-based Natural Solutions for Nutrition and Well-being
Microphyt, a leading company in microalgae-based natural solutions for nutrition and well-being, announced a fundraising of €28.5 million (US$32 million). This investment was co-led by Sofinnova Partners and BPI France via the SPI fund ("Sociétés de projets industriels") managed as part of the “Programme d'investissements d'avenir”, together with IXO-Private Equity and Sofilaro. The existing investors, Supernova Invest, Demeter Partners and Irdi Soridec, renew their confidence in the company by participating in this new round. The funds will be used to accelerate the development of the product portfolio, expand sales network globally, as well as to increase production capacity of Microphyt's industrial platform.
In nutrition and wellbeing, consumer demand for natural, effective, safe and sustainably produced solutions is booming. The world market for ingredients for these markets, represents more than US$ 70 billion with a share of natural ingredients (US$ 5 billion) that shows the strongest growth (8% per year). Among the natural ingredients, microalgae best meet consumer expectations thanks to their natural diversity, offering richness of molecules that can be produced in a close-controlled and sustainable way.
Since 2009, Microphyt has developed a proprietary production technology that makes it possible to access this diversity while guaranteeing a high level of control and standardization. This patented process, developed in-house, solves the usual drawbacks of microalgae production. It is based on 5,000-litre tubular photobioreactors, which offer both high differentiation potential (access to a new diversity of species) and the ability to supply natural active ingredients in an industrial and standardized way. This technology, operated within an industrial production platform, has already made it possible to establish several commercial partnerships with key players in the sector.
Microphyt has also launched the development of new products that contribute to improving the well-being of the elderly, preventing certain metabolic disorders, facilitating an active lifestyle and protecting the skin from various stresses. A portfolio of 10 nutritional active ingredients and 20 cosmetic active and functional ingredients is being developed. To achieve this, Microphyt will strengthen its team and will significantly increase its ingredient production capacity over the next 18 months.
"This new round is a major milestone in our development and we are pleased that recognized investors in the sector such as Sofinnova Partners and Bpifrance are joining us alongside our existing investors to accelerate our development and internationalization," said Vincent Usache, CEO of Microphyt. "For several years now, Microphyt was actively committed to unlocking the full potential of microalgae amazing diversity through our unique technology platform. With this funding, we will speed up the development and supply of novel natural products that solve the key challenges of Nutrition & Well-being”.
"Microphyt is exactly the type of company that Sofinnova Partners is looking for as a pioneering investor in industrial biotechnology: thanks to its proprietary technology platform and unique production capacity that allows access to the exceptional biodiversity of microalgae, the company is in an ideal position to become one of the world leaders in natural ingredients dedicated to nutrition and well-being," says Denis Lucquin, Managing Partner of Sofinnova Partners.
"Microphyt's innovations are also based on an innovative industrial project," explains Jean Philippe Richard, Investment Director of the SPI Fund of Bpifrance. "We share this ambition to develop a leading industrial production site in France and to create a European leader with a global vocation. The site will offer multi-product production with high added value while implementing environmentally friendly processes.
S&I for Microphyt
+33 6 03 35 92 05
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
IFF to Present at Barclays Global Consumer Staples Conference September 520.8.2019 23:15:00 EEST | Press release
Regulatory News: IFF (NYSE: IFF) (Euronext Paris: IFF) (TASE: IFF), a leading innovator of taste, scent, and nutrition & ingredients today announced that the Company’s management will speak at the Barclays Global Consumer Staples Conference in Boston, Massachusetts, on Thursday, Sept 5, 2019 at 2:15 PM ET. Investors may access the live webcast and accompanying slide presentation on the Company's website at ir.iff.com. For those unable to listen to the live webcast, a recorded version will be made available for replay. Welcome to IFF At IFF (NYSE:IFF) (Euronext Paris: IFF) (TASE: IFF), we’re using Uncommon Sense to create what the world needs. As a collective of unconventional thinkers and creators, we put science and artistry to work to create unique and unexpected scents, tastes, experiences and ingredients for the products our world craves. Learn more at iff.com, Twitter , Facebook, Instagram, and LinkedIn. View source version on businesswire.com: https://www.businesswire.com/news/ho
Novalis LifeSciences Launches its First Life Science Investment Fund with $85 Million20.8.2019 19:29:00 EEST | Press release
August 20th, 2019, Novalis LifeSciences, an investment and advisory firm for the Life Science industry, announced today that it has raised $85M in capital for its first fund - Novalis LifeSciences Investments I, L.P. Novalis LifeSciences is focused on highly innovative Life Science companies. On the occasion of closing the first fund, Marijn E. Dekkers, founder and chairman, said: “This first fund is a growth-oriented fund that will invest in 8-12 companies that are commercializing breakthrough technologies in various segments of the Life Science industry. This includes drug discovery, life science tools, genomics, synthetic biology, diagnostics, and agricultural biotechnology – all areas with huge unmet needs and exciting opportunities for investors”. About Novalis LifeSciences Novalis Lifesciences LLC, is a globally acting venture capital firm focused on breakthrough technologies in Life Science. Founded and managed by Dr. Marijn E. Dekkers, current chairman of Unilever and former ch
Bermuda Tech Week 2019 to Celebrate Innovation and Explore Opportunities for Growth20.8.2019 17:27:00 EEST | Press release
Registration is under way and filling fast for Bermuda Tech Week 2019 which will take place at the Hamilton Princess & Beach Club from October 14-18, 2019. The programme of insightful and engaging events will explore future opportunities and challenges presented by emerging technologies such as artificial intelligence, blockchain, digital assets, insurtech and virtual reality. It will showcase Bermuda’s ongoing success in creating a welcoming, stable and well-regulated environment where technology and start-up companies can thrive. “Bermuda has a long history of innovation so we understand and recognise the power of technology to positively impact both the economy and society,” said Bermuda Premier David Burt. “Over the past two years, we have built on our strength as a global leader in regulating the risks associated with the global insurance industry to develop a clear regulatory framework around managing the risks associated with Fintech. Our progressive approach has drawn accolades
Limelight Networks Expands Developer Toolkit With New API and Portal Enhancements20.8.2019 17:25:00 EEST | Press release
Limelight Networks, Inc. (Nasdaq: LLNW), a leading provider of edge cloud services, today announced it has expanded the management and configuration capabilities of its suite of services with new Application Programming Interfaces (APIs) and web portal offerings. With these new capabilities in addition to existing APIs and Software Development Kits, developers now have more power to manage and monitor services across Limelight’s edge cloud platform. According to an IDC surveyi, more than half the organizations surveyed have already adopted DevOps practices, with an additional 20 percent planning to do so in the next 12 months. To help organizations meet these demands, Limelight has introduced expanded API capabilities to provide developers with access to the full set of configuration options available across its content delivery services. Limelight’s new Configuration API enables developers to configure Limelight services and programmatically integrate them into their workflows. It exp
Andersen Global Enters Zimbabwe20.8.2019 16:30:00 EEST | Press release
Andersen Global announced it has signed a collaboration agreement with Chimwamurombe Legal Practice (Zenas) in Zimbabwe. Andersen Global has built a presence in over 14 African countries in just under two years. Zenas was founded in 2015 and now has a team of 11 professionals who provide legal services to individuals, organizations, institutions and corporations. With a specialty of serving small to medium enterprises, they offer solutions in mining and construction, commercial, debt recovery, property law, labor law, family law, tax, technology, telecommunications, media and intellectual property law, and criminal litigation. “When we started, we set out to be the most sought-after, trusted legal firm in Zimbabwe,” said Fungai Chimwamurombe, Zenas Office Managing Director. “These values line up very closely with those firms in the Andersen Global international organization. We are happy to join a team of professionals that is equally committed to treating clients like family and deliv
DXC Technology and Google Cloud Announce Global Partnership to Drive Innovation for Enterprises at Scale20.8.2019 16:00:00 EEST | Press release
DXC Technology (NYSE: DXC) today announced a strategic partnership with Google Cloud that will enable enterprise clients to modernize their mission-critical IT and integrate digital solutions on Google Cloud Platform. With the strategic partnership, DXC is also launching a Google Cloud Platform Center of Excellence (COE) and a Google Cloud Artificial Intelligence (AI) COE to provide clients in key industries with secure, scalable and agile cloud-based digital platforms that leverage advanced data analytics capabilities. The new collaboration will initially focus on joint solutions in industries such as insurance, oil and gas exploration, automotive, consumer products, retail, and banking and capital markets. Google Cloud now joins the DXC Partner Network as a strategic partner. “Our new Google Cloud partnership will benefit clients looking to go to the next level in their digital transformation,” said Edward Ho, executive vice president and general manager, Offerings, DXC. “Google Clou
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom