Microphyt Secures €28.5 Million to Advance Natural Microalgae-Based Health and Beauty Ingredients

On July 10, 2019, VCBeat (WeChat ID: vcbeat) learned via Business Wire that Microphyt, a developer of natural health products, announced the completion of a new €28.5 million financing round (with the specific round undisclosed). The investment was led by Sofinnova Partners and BPI France.

Microphyt intends to utilize the raised funds to accelerate product development, expand its global sales network, and enhance the production capacity of its microalgae ingredient extraction technology platform, thereby achieving its current objectives and promoting corporate growth.

It is reported that Microphyt had previously completed three rounds of financing, raising a total of €1.8 million, including a €1.78 million round closed in August 2016.

Microphyt is an innovative biotechnology company based in France, specializing in the research of natural active ingredients from microalgae, as well as the development, production, and sales of related products. With over 10 years of expertise and experience, Microphyt is dedicated to extracting various nutrients from microalgae and developing unique products for the beauty and health industries. The company’s natural algae-based products aid in weight management and support brain health.

Microphyt has developed a proprietary production technology that extracts natural active ingredients in an industrialized and standardized manner using tubular photobioreactors with capacities of up to 5,000 liters. This approach ensures standardization and automation of the production process while fully leveraging the rich diversity of bioactive compounds found in microalgae. This patented technology effectively avoids the drawbacks associated with conventional microalgae production.

Currently, Microphyt is developing 10 nutritionally active ingredients and 20 cosmetic functional ingredients, aiming to improve the health status of the elderly by helping them protect their skin and prevent metabolic disorders. To achieve this goal, Microphyt will optimize its team and significantly increase raw material production capacity within the next 18 months.

Vincent Usache, CEO of Microphyt, stated, “This new round of financing marks a significant milestone in our development. We are delighted to have investors such as Sofinnova Partners and BPI France growing alongside the company. In recent years, Microphyt has been dedicated to fully unlocking the potential value of microalgae through its unique technology platform. With this funding, we will accelerate the development and supply of novel natural products to address challenges in the nutritional health industry.”

Sofinnova Partners, established in 1972 and headquartered in Paris, France, is an independent venture capital firm. The company is dedicated to investing in the life sciences sector, including biopharmaceuticals, medical devices, and industrial biotechnology. Leveraging years of practice and experience, Sofinnova Partners has cultivated numerous market leaders.

BPI France was established in 2012 through the merger of Oséo, the Strategic Investment Fund (FSI), and relevant departments of the Caisse des Dépôts et Consignations. Headquartered in the Île-de-France region of France, it is a public investment bank. BPI France primarily supports the development of local small and medium-sized enterprises (SMEs) and innovative companies in alignment with French national and regional policy initiatives.

(Compiled by Xu Xiaoxue)