Biotalys announces second closing of €45 million Series C financing round
Biotalys raises an additional €10m welcoming specialist US investor Novalis LifeSciences
GHENT, Belgium, March 05, 2020 (GLOBE NEWSWIRE) -- Biotalys NV, a rapidly growing and transformative food and crop protection company developing a new generation of protein-based biocontrols, today announces 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.
Biotalys is a rapidly growing and transformative food and crop protection company developing a new generation of protein-based biocontrol solutions, shaping the future of sustainable and safe food supply.
Based on its ground-breaking technology platform, the company has developed a broad pipeline of effective and safe products with novel modes of action, addressing key crop pests and diseases across the whole value chain, from soil to plate.
Biotalys’ unique protein-based biocontrols combine the high-performance characteristics and consistency of chemicals with the clean safety profile of biologicals, making them ideal crop protection agents for both pre- and post-harvest applications. The company is on track to launch its first biofungicide in the US in 2022, followed by global market introductions.
Biotalys was founded in 2013 as a spin-off from the VIB (Flanders Institute for Biotechnology) and has raised € 61 million to date from local and international specialist investors. The company is based in the biotech cluster in Ghent, Belgium. More information can be found on www.biotalys.com.