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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190711005023/en/
Contact information
Anne REIN
S&I for Microphyt
+33 6 03 35 92 05
anne.rein@strategiesimage.com
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
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
H.I.G. Capital Announces the Sale of DGS S.p.A.11.6.2024 12:00:00 CEST | Press release
H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $62 billion of capital under management, is pleased to announce that an affiliate has signed a definitive agreement to sell its portfolio company, DGS S.p.A. (“DGS” or the “Group”), a leading firm in the Italian Information Technology market, to DGS Co-Founders and management team in partnership with ICG, a global alternative asset manager. Since its inception in 1997, DGShas supported blue-chip customers in the design, integration, and maintenance of complex IT systems, with a specialization in digital transformation and cybersecurity services. The Group currently has over 1,900 employees, revenues of approximately €300 million, and maintains a group of highly loyal clientele. During H.I.G.’s ownership, DGS has tripled in size and consolidated its position as a leading Italian firm in cybersecurity services and digital transformation. DGS offers its clients sophisticated and proprietary digital transformation
Evertas Names Nick Selby Head of European Underwriting11.6.2024 12:00:00 CEST | Press release
Evertas, the world’s first crypto insurance company, has named Nick Selby as its new Head of European Underwriting. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240611141887/en/ Nick Selby, Executive Vice President and Head of European Underwriting at Evertas (Photo: Business Wire) Selby, an accomplished information and physical security professional, brings two decades of expertise in public and private sector information security, physical security, and complex incident handling, as well as seven years of experience leading teams securing billions of dollars in cryptoassets. Previously, his roles included VP of the Software Assurance Practice at Trail of Bits, Chief Security Officer at Paxos Trust Company, and Director of Cyber Intelligence and Investigations at the NYPD Intelligence Bureau. “Nick is an extremely valuable addition to our European team,” said Evertas CEO and Co-Founder J. Gdanski. “His public and private
Owlet utvider globalt fotavtrykk med lanseringen av medisinsk-sertifisert Dream Sock™ i Storbritannia og over hele Europa11.6.2024 11:00:00 CEST | Pressemelding
Owlet, Inc. («Owlet» or the «Company») (NYSE:OWLT), pioneren innen smart spedbarnsovervåking, kunngjør i dag den britiske og europeiske lanseringen av Dream Sock. Dette er en smart babymonitor med levende helseavlesninger og varsler for friske spedbarn mellom 0-18 måneder og 2,5-13,6 kg. Dette innovative medisinske utstyret gir foreldre helse og viktig informasjon i sanntid, noe som gir uovertruffen trygghet. Denne pressemeldingen inneholder multimedia. Se hele pressemeldingen her: https://www.businesswire.com/news/home/20240611820341/no/ (Photo: Business Wire) «Vi er svært stolte over å lansere Dream Sock til omsorgspersoner over hele Storbritannia og Europa og gi millioner av foreldre mer trygghet mens babyen sover,» sa Kurt Workman, Owlets administrerende direktør og medgründer. «Dream Sock er nå et globalt produkt som er anerkjent som medisinsk nøyaktig og trygt, etter å ha gjennomgått regulatoriske autorisasjoner og sertifiseringer innenfor flere geografier. I dag er misjonen vår
V-Nova Surpasses 1000 Patent Milestone in Media Technology Innovation11.6.2024 10:00:00 CEST | Press release
V-Nova, a leading provider of data compression solutions, video compression technology, XR technology, AI acceleration and parallel processing for a multitude of industries including media and entertainment, today announced its milestone achievement of 1000 active technology patents. This accomplishment underscores V-Nova’s dedication to research and development and its commitment to protecting its intellectual property globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240611724561/en/ V-Nova’s patent portfolio spans more than 50 different jurisdictions. Including over 400 patents in Europe, over 200 in the Americas, over 100 in the United States specifically, and over 200 in Asia. V-Nova forged new directions in data processing to enhance digital experiences, maximize efficiency, reduce costs, and increase sustainability. The company leads the way with key international data compression standards for the video indust
Alipay+ Reveals Top Scorer Trophy Design for UEFA EURO 2024™11.6.2024 09:24:00 CEST | Press release
Alipay+, a suite of cross-border mobile payment and digitalization technology solutions operated by Ant International and an Official Partner of UEFA EURO 2024™, today revealed the trophy that will be awarded to the most prolific marksman at the UEFA EURO 2024™ finale on July 14 in Berlin, Germany. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240610328619/en/ The UEFA Top Scorer Trophy presented by Alipay+ is unveiled for UEFA EURO 2024™ (Photo: Business Wire) Sculpted in the shape of the Chinese character “支” (pronounced zhi, and meaning payment as well as support), the trophy reflects Alipay+’s dedication to supporting consumers to enjoy seamless payment and a broad choice of deals using their preferred payment methods while traveling abroad. The character also resembles the fleeting moment of a barefooted striker poised to shoot, evoking the original beauty and power of football – a game that united people across the wo