Proteon Pharmaceuticals India, a subsidiary of Proteon Pharmaceuticals SA, has announced an investment of 21 million Euro (approx. INR 200 crores) to accelerate commercialization of its products in aquaculture and livestock farming as well as to further develop its microbiome platform technology.
The financing round was led by the Nutreco, Aqua-Spark and PFR Life Science, a portfolio company of the Polish Development Fund. Other investors in the round include Montis Capital, Seventure Partners as well as a group of Angel investors.
Proteon Pharmaceuticals’ Chief Executive Officer, Jaroslaw Dastych, stated, “This funding round will support our vision of reducing the need for antibiotics in livestock farming and aquaculture as well as increasing the sustainability of protein production.”
Proteon Pharmaceuticals’ Chief Commercial Officer, Nipun Gupta added, “With the new investment, we plan to continue to expand our Global reach, making available our livestock and aquaculture health products to our customers, helping them to reach their environmental, performance and sustainability goals.”
Rob Koremans, Nutreco CEO said, “This investment underlines Nutreco’s commitment to our purpose of Feeding the Future and to the partnership between Proteon Pharmaceuticals and Nutreco’s aquaculture division Skretting. Together, Proteon and Skretting are developing bacteriophage health products to support farmers in keeping their animals healthy without the use of antibiotics. Our investment is a great next step to deepen our ongoing relationship and to support Proteon Pharmaceuticals in this exciting phase in the company’s development.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.