Agritech Biotalys raises €45 million in Series C financing round
Funds will be used for the further development, registration and commercial scale production of Biotalys’ most advanced biofungicide product.
source- public domain
Biotalys NV, a rapidly growing and transformative food and crop protection company developing a new generation of protein-based biocontrols, recently announced the second closing of its Series C financing round with €10 million, bringing the total amount of capital raised through its Series C to €45 million.
The second closing of the Series C round was supported by the current shareholders and includes new specialist investor Novalis LifeSciences. Novalis LifeSciences is an investment and advisory firm for the life sciences industry, based in Hampton, New Hampshire, U.S. Marijn Dekkers, former CEO of Bayer AG and Chairman of Novalis LifeSciences, will join the Board of Directors of Biotalys as Observer.
Marijn Dekkers, Chairman of Novalis LifeSciences commented, “Novalis LifeScience is very interested in break-through biotechnologies that can substitute synthetic pesticides. The protein-based biocontrol solutions developed by Biotalys are a promising novel class of these future food and crop protection agents. We look forward to being part of this exciting company.”
Proceeds from the financing will be used for the further development, registration and commercial scale production of Biotalys’ most advanced biofungicide product and to continue to expand and build the company’s unique discovery platform. The launch of the first biofungicide is scheduled for 2022 in the fruit and vegetables market in the US. In addition, the funds will support the accelerated development of the innovative product pipeline with applications in critical food and crop pests and diseases.
“On behalf of all the shareholders of Biotalys, we extend a warm welcome to our US-based investor Novalis LifeSciences. Marijn Dekkers will add his broad agro-industry expertise to our very active board and help us drive the company to the next level. Biotalys is well advanced in the discovery and development of a strong pipeline of innovative biocontrols, meeting the fast evolving farmer and consumer expectations. A game changing AgTech Company delivering on its promises,” added Lieven De Smedt, Chairman of the Board of Biotalys.