March 13, 2020

By Lynda Kiernan

Belgium-based food and crop biological protection company Biotalys has raised its Series C, announcing a second closing at €45 million (US$50 million).

The round has been reopened for U.S. specialist investor Novalis LifeSciences who added another €10 million (US$11 million) to the round, bringing total funding to-date for Biotalys to €61 million (US$68 million).

Also known as AgroSavfe, Biotalys’ initial €35 million (US$38.8 million) Series C closed in July 2019. It was led by Gimv, and included Sofinnova Partners, PMV, Agri Investment Fund, K&E, Biovest, Madeli Participaties, VIB, Qbic, and Ackermans & van Haaren, and AgroSavfe joining as new investors. 

Based in Hampton, New Hampshire, Novalis LifeSciences is an investment and advisory firm for the life sciences industry, and under the terms of the investment, Marijn Dekkers, chairman of Novalis LifeSciences and former CEO of Bayer AG, will join the Biotalys Board of Directors as an observer.

“On behalf of all the shareholders of Biotalys, we extend a warm welcome to our U.S.-based investor Novalis LifeSciences,” said Lieven De Smedt, chairman of the board of Biotalys. “Marijn Dekkers will add his broad agro-industry expertise to our very active board and help us drive the company to the next level.”

Founded in 2013 as a spin-out from the Flanders Institute for Biotechnology (VIB), and based in the biotech cluster in Ghent, Belgium, Biotalys is a rapidly growing startup transforming the food and ag protection industry. Through its ground-breaking technological platform, the company is developing a new generation of protein-based biocontrol solutions that offer the high performance and consistency of chemicals with the safety of biologicals.

Its broad pipeline of safe and effective products offer novel modes of action, addressing key crop pests and diseases across the entire value chain. Currently, the company is on pace to see the launch of BioFun 1 – its first biofungicide in the U.S. fruit and vegetable market in 2022, to be followed by a global markets rollout.

“Novalis LifeScience is very interested in break-through biotechnologies that can substitute synthetic pesticides,” said Marijn Dekkers, chairman of Novalis LifeSciences. “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.”

The company plans to use the funds from this financing to support the further development, registration, and commercial scale production of its most advanced biofungicide, and to continue to expand the build-out the company’s unique technology platform. The funds will additionally be used to support the accelerated development of the company’s pipeline of innovative solutions with applications in controlling critical food and crops pests and diseases.

“Biotalys is well advanced in the discovery and development of a strong pipeline of innovative biocontrols, meeting the fast evolving farmer and consumer expectations,” said De Smedt. “A game changing AgTech company delivering on its promises.”

– Lynda Kiernan is Editor with GAI Media and daily contributor to the GAI News and Agtech Intel platforms. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at lkiernan@globalaginvesting.com.