The financing round was led by Nutreco, Aqua-Spark* and PFR Life Science, a portfolio company of the Polish Development Fund (PFR). PP will now launch a global product roll-out of its bacteriophage products, which aim to reduce the reliance on antibiotics within aquaculture and livestock farming.
The Polish startup says that it will use the funding to support a global product roll-out and to support new product development, as well as help to further expand the capabilities of its microbiome platform technology. The platform will be developed through integration of artificial intelligence (AI) tools, high throughput screening and process automation, as well as expansion of production capacity.
Proteon Pharmaceuticals’ bacteriophage cocktails address issues including Pseudomonas and Aeromonas infection in finfish aquaculture, while its product development pipeline includes solutions for the prevention of AHPND in shrimp production.
Other investors in the round included Montis Capital, Seventure Partners as well as a group of angel investors.
“The funds raised from investors will support the company’s efforts to reduce the use of antibiotics in livestock farming and to promote sustainable protein production and ultimately improve human health. We are proud that the potential of our company has attracted such a wide group of industry and financial investors who, like us, believe in the unique capabilities of bacteriophages,” explains Jarosław Dastych, CEO of Proteon Pharmaceuticals.