BioProtein Technologies has raised euros8 million in its first round of external fundraising. Investors include Netherlands-based Gilde Europe Food and Agribusiness fund (GEFAF), Societe Generale Assets Management (SGAM) and Creago from France and Hazak Invest from Luxembourg. The investment is co-led by GEFAF, entering the French market for the first time and SGAM. Stephen Kramer from Hazak and Marc Perret from GEFAF will join the board of directors.
With the new financing, BioProtein Technologies has agreed with the new investors upon a series of milestones that it is hoped will be reached within the next few years. The company was founded in 1998 with the aim of developing transgenic animals for production of recombinant drug proteins and to support pharmaceutical and biomedical research. Since its creation, the company has successfully produced molecules from different classes such as recombinant protein, monoclonal antibody, human growth hormone. In its field of interest, the company will license patents from the French National Agronomy Institute (INRA) on an exclusive basis.
Marc Perret of GEFAF said: “I am thrilled by this first GEFAF investment in France together with reputed French investors. BioProtein Technologies shall develop rapidly on a solid scientific and patent foundation and within the frame of a mission, which duly takes into account societal needs and values.”