Danish bioindustrial company Bactolife raises €30m in Series A round
Bioindustrial company Bactolife has announced that it has raised €30 million in Series A financing for it proprietary Binding Proteins.
Bactolife develops proprietary Binding Proteins that strengthen the gut microbiome, with the aim of reducing the burden of gastrointestinal infections and anti-microbial resistance.
The round, led by VC fund Athos, saw participation from the Bill & Melinda Gates Foundation and existing investors, including Novo Holdings.
The funding will be used to advance Bactolife’s mature projects towards commercial launch and strengthen its technology platform and upscaling capabilities.
Sebastian Søderberg, CEO of Bactolife, said: “The funding allows us to increase our investments in our project pipeline, technology platform, organisation and upscaling capabilities. Further, it will enable Bactolife to accelerate our partnering efforts with world-leading companies and commercialise our first product concepts for humans and animals.”
Julian Zachmann, investment manager at Athos, commented: “Infectious diseases and increasing antimicrobial resistance are amongst the biggest threats to global health and development. We are committed to addressing this challenge and believe in Bactolife’s targeted solutions.”
According to Bactolife, its Binding Proteins “can reduce the risk of developing gut health infections, thereby reducing the need for antibiotics, at an affordable price point”.
Aleks Engel, partner at Novo Holdings, added: “Bactolife is a great example of the strong Danish biotech ecosystem, as its technology platform originates from a Danish University, and was then further enabled by pioneering Danish biotech companies and talents. This bodes well for the future of not only Bactolife, but the Danish biotech sector as a whole.”
He continued: “Further, I am very pleased that the international investors share our enthusiasm for finding solutions to the global antimicrobial resistance crisis. Combatting antimicrobial resistance requires all hands on deck.”