In Portugal, a biotech company has raised €5 million (US $5.7 million) to develop and scale its precision-fermented human milk proteins. The funding for PFx Biotech is comprised of a €2.5 million seed round closely following an EU grant of €2.5 million.
PFx Biotech uses precision fermentation to produce human milk proteins for advanced nutrition. The process involves programming proprietary microbes with milk protein genes. Fed with water, sugar, and nutrients in bioreactors, these microbes secrete proteins identical to those in breast milk. The proteins are then harvested and used in products that support infant nutrition, elderly health, athletic performance, and general wellness.
The seed round was led by Buenavista Equity Partners. EIT Food and Beta Capital also participated. Early investors include Biotope Incubator, Big Idea Ventures, and Pascual InnoVentures.
“We believe PFx Biotech is one of the few companies with the scientific depth, technical execution, and visionary leadership required to make precision fermentation commercially viable at scale,” said Bibi Sattar Marques, partner at Buenavista Equity Partners, told Green Queen.