Inbiose secures €4 million in debt financing.
Ghent, Belgium, 20 November 2018
Inbiose announces that it has entered into a €4m debt agreement with BNP Paribas Fortis, one of the largest banks in Belgium. This facility gives Inbiose access to non-dilutive financing to continue the development of its portfolio of human milk oligosaccharides (HMOs) and to drive these towards regulatory approval and market launch.
Last month Inbiose announced that it is fast tracking 7 HMOs from its portfolio for use in infant formula and health markets. Inbiose offers partnerships with industry segment leaders to accelerate registration and commercialization of HMOs into baby food, cosmetics, nutrition, pharma, dietary supplements and therapeutics.
In 2016 Inbiose entered into a collaboration with DuPont Nutrition & Health on fucosyllactose for human nutrition. The product received the prestigious NutraIngredients-USA “Ingredient of the Year Award 2018” and is currently sold under the brand name Care4UTM both in infant formula as well as in health products.
Paul Decraemer, CFO, commented: “This financing illustrates the confidence in our business case and its growth trajectory. Combined with the current cash balance, this debt facility enhances our flexibility to execute on the many opportunities we identify in the specialty carbohydrates market.”
“As we move into 2019, we will continue to evaluate all strategic opportunities to maximize the value of our state of the art GlycoActives® technology platform. Securing debt finance helps us to achieve this goal.” said Professor Wim Soetaert, CEO and chairman.
Inbiose is a 50-person-strong biotech company based in Ghent-Belgium. Inbiose has made its mark as a leader in the development of human milk oligosaccharides, which are of paramount importance for the health of babies and infants. The company develops cost-effective processes to produce HMOs and other specialty carbohydrates using its proprietary GlycoActives® high-productivity biotechnological platform. Inbiose has over 60 patent applications and continues to invest in a unique library of strains, tuned towards the production of specialty carbohydrates. Inbiose seeks partnerships with industry segment leaders to jointly bring more health ingredients to the market.
GlycoActives® is a registered trademark of Inbiose NV.