Danish biotech firm Biosyntia has secured €11.5m funding from venture capital investors to commercialise its fermentation-based bio-based biotin (vitamin B7) for use in beauty and other products.
The investment will allow the company to enter the production phase of its active ingredients as well as expand the pipeline of products, it said.
Biosyntia has several commercial partnerships, including collaborations with large market players such as Givaudan and Wacker.
“Our team is truly proud of the recognition this investment gives. The investment enables us to finally offer customers the first and only natural and sustainable alternative to what is available for them today”, said CEO Martin Plambech.
“With ECBF joining Sofinnova Partners and Novo Seeds as investors, we improve an already strong investor base,” he added.
“Combined with our promising pipeline of ingredients, we are in the making of a new, global fermentation-based ingredient producer that can challenge today’s incumbents."
