Sofinnova Partners Leads Micropep Technologies €4M Series A Financing Round

• Micropep Technologies, developing a non-GMO new generation of
  bioherbicides and biostimulants, is the third investment of the
  Sofinnova IB I fund dedicated to industrial biotech
• Sofinnova IB I, which recently closed at €125M, is the largest
  European fund dedicated to sustainable transition of the chemical
  industry.

PARIS–(BUSINESS WIRE)–#Micropep–Sofinnova Partners, a leading European venture capital firm specialized
in life sciences, today announces that Micropep Technologies, a biotech
company focused on biological alternatives to agrochemicals, raised €4M.
Sofinnova Partners becomes the company’s leading shareholder, next to
IRDInov and Toulouse Tech Transfer. Sofinnova Partners invested with its
recently closed €125M fund dedicated to the sustainable transition of
the chemical industry, Sofinnova IB I, which is the largest European
fund dedicated to this fast growing new area.

After Agrosavfe, which focuses on biological molecules to replace
chemical fungicides and insecticides, Micropep is Sofinnova IB1’s second
investment in Ag-Biotech, and third overall. Sofinnova Partners has been
investing in industrial biotech since 2009 and today has a portfolio of
11 companies, in Europe and North America, at different stages of
maturity. They range from companies at proof of concept, such as Enobraq
in Toulouse (France) developing micro-organisms using C02 as
source of carbon, all the way to commercial stage like Avantium in
Amsterdam (The Netherlands) developing a brand-new type of plastic using
renewable raw material.

Micropep, founded in 2016 in Toulouse, focuses on bioherbicides and
biostimulants. The company uses plants’ natural molecules, called
“micro-peptides”, to temporarily control expression of their genes and
regulate plant growth but leaving their DNA intact. The company
currently works on four development programs: germination, flowering,
growth, and weed control. The proceeds of the financing will be used to
strengthen its technology platform, further its R&D programs to proof of
concept, and initiate its commercial growth with a strong international
focus.

Denis Lucquin, Managing Partner at Sofinnova Partners, says: “We are
thrilled to back Micropep. This young company has all the necessary
features we look for: a breakthrough technology with a strong commercial
and environmental impact and clear business objectives driven by
visionary entrepreneurs.”

Thomas Laurent, Micropep’s CEO and co-Founder, continues: “Sofinnova
Partners’ support represents a major step for Micropep’s development.
Their expert knowledge combined with an unparalleled international
network, validates the work we accomplished so far and represents a
strong advantage for our growth and our ambition to revolutionize
agriculture “.

Contacts

Press contact for SOFINNOVA PARTNERS
Anne REIN, Tel: +33 (0)6 03 35
92 05
@: [email protected]