Biosyntia lands €11.5M funding, eyes vitamin B7 commercialization
08 Jul 2022 --- Copenhagen-based biotechnology company, Biosyntia, has received €11.5 million (US$11.6 million) in its latest funding round, which it aims to utilize to expand its ingredients and production.
One of the first products the company aims to bolster with the funding is bio-based vitamin B7, also known as biotin. Martin Plambech, CEO, Biosyntia, tells NutritionInsight that vitamin B7 is “One of the most expensive vitamins on the market.”
Biotin is known to promote healthy hair, skin and nails and Innova Market Insights recently reported a 52% growth in products claiming to promote skin health. Biotin was also an ingredient in a newly launched hangover remedy.
The round was closed with an investment from the European Circular Bioeconomy Fund (ECBF) and the two existing investors, Sofinnova Partners and Novo Seeds, the early-stage investment and company creation team of Novo Holdings A/S.
Disrupting the market
Biotin is known to promote healthy skin, nails and hair.
The funds will also be used to enter the production phase of its natural and sustainable active ingredients as well as expand the pipeline of products.
“The future of the company is more ingredients and more processes to disrupt,” Plambech underscores.
“Currently, Biosyntia operates on three platforms: B-vitamins, di-terpenes and flavonoids,” he explains.
“Coming products will be other B-vitamins, forskolin – which we see as our lead – di-terpene and kaempferol leading the entry into flavonoids. Our lead ingredients are just the beginning as we see it.”
Forskolin has been touted to help with insomnia and promote weight loss. Moreover, kaempferol has been found to have anti-cancer properties and may help treat and prevent diabetes. Other companies, such as Conagen, have also recently forayed into kaempferol fermentation which they say represents a US$5.7 billion market.
Expanding capabilities
Biosyntia highlights that its main goal is to create better pathways toward fermentation processes, allowing it to produce more natural and (environmentally) sustainable nutrients such as antioxidants and vitamins.
“Replacing chemistry and processes that may have been optimized for 70 years is not easy technically, although it is the way to a more (environmentally) sustainable future,” says Plembach.
Biosyntia has stated they will focus on making natural and more (environmentally) sustainable biotin at a reasonable price.
“We truly see biology as a production platform is the most promising technology to solve this sustainability sourcing as well as natural sources – but it costs money and time.
“What can really accelerate this and overcome some of these challenges is for brand owners, formulators and suppliers to push for and invest in having these solutions developed.”
Biosyntia states that they have created many technologies that decrease the time, cost and risk of cultivating fermentation processes.
By William Bradford Nichols
