CarboCode, a Cantanhede, Portugal-based biotechnology company, raised 15m in Series C funding.
The round was led by Iberis Capital.
The company intends to use the funds to meet regulatory requirements in strategic markets, expecting to obtain the respective approvals in the European Union and the United States in 2027, and in China in 2028.
Led by Jorge Santos, CEO, CarboCode is developing a technological platform that enables the large-scale production of glycosphingolipids and gangliosides identical to human ones. Glycosphingolipids and gangliosides are compounds present in the human body, particularly in breast milk and the membranes of various organs, including the brain. They play significant roles in cognition, inflammation modulation, and gut health.
The company’s technology will have innovative applications in infant nutrition, cosmetic and dermatological, and cognitive industries. CarboCode’s first products will be gangliosides, which are currently absent from milk formulas, making them closer to breast milk.
CarboCode is headquartered at the Biotechnology Innovation Center in Biocant Park, Cantanhede, Portugal, home to its Development and Scale-Up facility. The company also operates a subsidiary in Konstanz, Germany, housing its Research Center.
CarboCode currently employs 35 highly qualified workers, including 16 PhDs. In the medium term, aligned with its growth objectives, CarboCode plans to strengthen its team by recruiting 15 more qualified scientists and researchers to support the development and optimization of its first-generation products and deepen scientific research into subsequent generations of gangliosides.
FinSMEs
20/12/2024