NEW TECH FOODS

French bio-tech company Bon Vivant has completed a new oversubscribed round of equity financing totalling €15 million.

The financing round was backed by Sofinnova Partners, Sparkfood and Captech. The animal-free dairy company plans to use the equity to strengthen its R&D teams and to accelerate its development to meet the current challenges of the agri-food market.

Bon Vivant harnesses precision fermentation to produce milk proteins, and says it is “one of the only biotechs in the world to work on both whey and casein proteins”.

The funding will enable the company to invest in its new laboratory located in Lyon, France, which will produce large amounts of samples to meet demand from Bon Vivant’s partners. It will also be used to accelerate its regulatory approval track, notably for the US, where Bon Vivant plans to commercialise in 2025.

Stéphane MacMillan, CEO and founder of Bon Vivant, said: "This round of financing confirms the growing demand for precision fermentation as a solution to the tremendous challenges the agri-food industry, particularly the dairy industry, is facing. The aim is threefold: to increase the number of developments with our customers, to produce on an industrial scale and to prepare for commercialisation by 2025. It should also enable us to grow as the French world leader.”

Michael Krel, partner at Sofinnova Partners, added: "Bon Vivant's pioneering work in animal-free dairy proteins through precision fermentation aligns perfectly with Sofinnova's mission to promote sustainable solutions for a healthier planet. We are delighted to support [Bon Vivant] as it continues to transform the dairy sector and contribute to a more sustainable agri-food era.”

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