Finance

Micropep Raises EUR 8.5M (USD 10M) in oversubscribed Sequence A Financing to develop progressive small peptide options for agriculture

– Financing might be used to additional develop proprietary discovery platform and progress pipeline focusing on illness management and weed suppression

– Firm properly positioned to enter and rework the EUR 47 billion-plus marketplace for pesticides, initially focusing on $28 billion herbicides and fungicides markets in Americas and Europe

TOULOUSE, France, July 8, 2021 /PRNewswire/ — Micropep applied sciences (Micropep), an agricultural biotech firm creating breakthrough peptide-based organic merchandise for agriculture, in the present day proclaims it has raised EUR 8.5 million (USD 10 million) in an oversubscribed Sequence A funding led by new investor Supernova Make investments with participation from FMC Ventures, and present traders Sofinnova Companions and IRDI Capital Investissement.

Primarily based in Toulouse, France, Micropep was spun out from Centre nationwide de la recherche scientifique (CNRS) and Toulouse College in 2016, a centre of excellence for AgriTech. The corporate has developed a proprietary know-how to exactly improve plant traits with out altering DNA by spraying “miPEPs”, a novel household of pure peptides regulating plant microRNAs.

miPEPs will affect all plant phenotypes regulated by microRNAs together with, germination, early progress, illness resistance and flowering. Leveraging the potential of those pure peptides, the corporate is now creating a pipeline of “sprayable traits” biosolutions to regulate resistant weeds resembling Palmer Amaranth and defend crops towards main ailments, primarily focusing on the $28 billion American and European herbicides and fungicides markets.

Romain Sautrau, Funding Director at Supernova Make investments will be part of the Board of Administrators and Sara Olson, Principal at FMC Ventures, together with Jean-Michel Petit, Funding Director at IRDI Capital Investissement might be becoming a member of as Observers to the Board.

Thomas Laurent, Founder and Chief Govt Officer, mentioned: “In an business that has been challenged by a shrinking discovery pipeline, lively components which might be slowly being phased out and elevated pest and weeds resistance to chemical compounds, our know-how gives a ground-breaking various. Peptides and small proteins have an incredible potential for sustainable crop safety options and Micropep is proud to steer the sphere on this space. Utilizing our proprietary discovery platform we are able to enhance plant well being naturally, utilizing the plant’s personal mechanisms, figuring out novel and protected lively components with a 100x higher hit fee in contrast with typical strategies. This financing will permit us to start area testing of our promising compounds, the following milestone in commercialising our product.”

Romain Sautrau, Funding Director at Supernova Make investments, mentioned: “Micropep’s innovative know-how has the potential to disrupt tomorrow’s agriculture. As a dedicated investor in promising deeptech firms, we look ahead to leveraging our in depth expertise in AgriTech to again Thomas and his best-in-class platform to be able to construct a brand new market chief.”

Denis Lucquin, Accomplice and Senior Advisor at Sofinnova Companions, commented: “We’re delighted to see the progress at Micropep, an organization the place Sofinnova was the primary investor. We look ahead to working with this gifted staff and group of famend traders as Micropep continues to validate and scale up its thrilling know-how focusing on illness management and weed suppression.”

Amar Singh, Managing Director of FMC Ventures, mentioned: “Micropep’s pioneering know-how can improve plant traits with out altering plant DNA and circumvents the challenges of GMOs and prices of RNAi. This novel method has the potential to develop first-in-class organic ‘traits’ – a sport changer set towards a panorama of regulatory headwinds, rising resistance, and a world push for sustainable crop safety applied sciences.”

Kevin Smith, Chairman of the Board of Administrators, concluded: “The success of the newest fundraising spherical confirms the boldness of our world-class syndicate of traders in Micropep’s distinctive potential to radically rework agriculture with distinctive and differentiated biosolutions which can contribute to satisfying client demand for improved meals security.”

About Micropep Applied sciences

Micropep was based in 2016 in Toulouse, France, as a spin out from Toulouse College, a centre of excellence for AgriTech. The corporate has developed an progressive discovery platform for the event of novel peptide-based organic merchandise for agriculture. It identifies and enhances the expression of naturally occurring, micro-RNA derived, regulatory peptides (miPEPs) that may transiently regulate the expression of crops’ microRNAs and their focused genes conferring resistance to pathogens and growing plant well being. The Firm has been supported by Sofinnova and Irdi Soridec since 2018.

For extra info, please go to https://www.micro-pep.com/

About Supernova Make investments

Supernova Make investments is a cutting-edge enterprise capital agency with a number one place within the French deeptech funding market. It manages and advises 5 capital funds for a complete of €260 million AUM. Supernova Make investments makes a speciality of breakthrough applied sciences, creating start-ups in Business, Well being, Power& Setting and Digital Expertise sectors. The staff has 20 years of know-how funding expertise and has offered greater than 100 of essentially the most progressive firms of their segments with assist and steering from creation till full maturity. Supernova Make investments has a powerful partnership with each the CEA (the French Different Energies and Atomic Power Fee) and Amundi (the European chief in asset administration).

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About Sofinnova Companions

Sofinnova Companions is a number one European enterprise capital agency in life sciences, specializing in healthcare and sustainability. Primarily based in Paris, London and Milan, the agency brings collectively a staff of execs from all around the world with sturdy scientific, medical and enterprise experience. Sofinnova Companions is a hands-on firm builder throughout the whole worth chain of life sciences investments, from seed to later-stage. The agency actively companions with formidable entrepreneurs as a lead or cornerstone investor to develop transformative improvements which have the potential to positively influence our collective future.

Based in 1972, Sofinnova Companions is a deeply-established enterprise capital agency in Europe, with 50 years of expertise backing over 500 firms and creating market leaders across the globe. Right this moment, Sofinnova Companions has over €2 billion below administration.

For extra info, please go to: www.sofinnovapartners.com

About FMC Ventures

FMC Ventures evaluates rising applied sciences of relevance to the agricultural business and can spend money on those who create a novel strategic benefit for FMC. Agriculture’s most urgent challenges are being addressed by means of advances in synthetic intelligence (AI), genomics, robotics, precision agriculture, biopesticides, artificial biology and different improvements. As progress in these disciplines converge, they are going to radically alter how crop inputs are developed, offered, and utilized. The brand new enterprise capital arm of FMC will focus investments in these superior know-how areas.

https://www.fmc.com/en/fmc-ventures

About IRDI Capital Investissement

IRDI Capital Investissement is likely one of the benchmark gamers in regional non-public fairness with almost € 400M below administration. Energetic for 40 years, IRDI helps greater than 200 firms within the Occitanie and Nouvelle-Aquitaine areas, deploying a multisectoral method wherein environmental, social and governance (ESG) points have their place.

For extra info: https://www.irdi.fr/

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SOURCE Micropep

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