Proteon Pharmaceuticals India, a subsidiary of Proteon Pharmaceuticals SA today 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. Proteon Pharmaceuticals uses bacteriophages to reduce the need for antibiotics, improve on-farm performance and increase the sustainability of protein production.
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, states, “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 adds, “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 says, “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.”
Proteon Pharmaceuticals has developed bacteriophage cocktails that address Salmonella and Avian Pathogenic E. coli infections in poultry production as well as Pseudomonas and Aeromonas infection in aquaculture. The company’s products are registered and commercially available in selected markets in Southeast Asia, South America and Africa. Proteon Pharmaceuticals’ product development pipeline includes solutions for Mastitis in dairy cows and prevention of AHPND in shrimp production. Proteon Pharmaceuticals’ products are built using natural bacteriophages in cocktails that are precision-designed using an AI-supported platform technology.