Key highlights:
- Funding provides Bactolife with sufficient capital to commercialise its proprietary Binding Proteins and further strengthen its technology platform.
- Financing was led by ATHOS, with participation from the Bill & Melinda Gates Foundation, and existing investors, incl. Novo Holdings, making it one of the largest bioindustrial Series A funding rounds in Europe.
Bactolife A/S (Bactolife), a bioindustrial company developing proprietary Binding Proteins, which strengthen the gut microbiome of humans and animals with the aim of reducing the burden of gastrointestinal infections and anti-microbial resistance, has successfully raised EUR >30 million since its April 2021 seed round.
The financing round is led by ATHOS with participation from the Bill & Melinda Gates Foundation and existing investors, incl. Novo Holdings. Proceeds from the financing will enable Bactolife to advance its most mature projects towards commercial launch and strengthen the technology platform and upscaling capabilities. By doing so, the company aims at retaining its first mover advantage to transform human and animal health with target specific Binding Proteins.
Sebastian Søderberg, CEO of Bactolife said: “We are very pleased and humbled by the continued confidence that investors have shown us, especially in times of geopolitical uncertainty and market turmoil. 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.”
Globally, there are more than 1.6 billion cases of diarrheal diseases annually which at best means stomach upsets. At worst, they can lead to life-threatening illnesses. Annual healthcare costs are increasing, and there are limited options to avoid disease manifestation in the first place. It is estimated that 760,000 children die annually from gut infections, and in those who survive, both infections later in life and growth stunts are observed. Today, most infections are treated with antibiotics that are either highly expensive or contribute to the spread of antibiotic resistant bacteria. Bactolife takes a unique approach to gut health for the greater good of humans and animals by developing Binding Proteins that can reduce the risk of developing gut health infections, thereby reducing the need for antibiotics, at an affordable price point.
Aleks Engel, Partner, Novo Holdings, added: “The successful Series A is another validation of Bactolife’s impressive achievements and opportunity for the future. 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. Further, I am very pleased that the international investors share our enthusiasm for finding solutions to the global AMR crisis. Combatting antimicrobial resistance requires all hands on deck.”