Jennewein Biotechnologie GmbH, a Rheinbreitbach, Germany-based industrial biotechnology company, received €15m in financing.
The European Investment Bank (EIB) provided the financing. The EU bank’s loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI).
Led by Stefan Jennewein, founder and CEO, Jennewein Biotechnologie manufactures an extensive portfolio of innovative HMO products, such as 2′-fucosyllactose, 3′-fucosyllactose and lacto-N-tetraose. These rare sugars are used in the food industry (particularly infant milk formulas), the pharmaceutical industry, and the cosmetic industry. In 2015, the US Food and Drug Administration (FDA) granted Jennewein Biotechnologie a license to market 2′-fucosyllactose in the USA. This was followed in 2017 by European Union marketing authorisation under the Novel Food Regulation.
The company will use the new financing to build a R&D centre to continue increasing its HMO’s product portfolio and to upscale its production capacity.