A spinout biotech company from DTU has received two grants from the EU’s “Horizon 2020” program worth 4,4 million euros. These grants will help to accelerate the development of the company’s products and allow a faster launch on the market.
The Danish biotech company Cysbio which focuses on producing sustainable biochemicals at a competitive cost, has ambitious plans for their technology. And at the beginning of 2021, they have already achieved more than many startup companies can only dream of. The company was established in 2019 as a spinout from The Novo Nordisk Foundation Center for Biosustainability, DTU (Technical University of Denmark), and already by 2022, they are ready to launch products in Europe and other countries.
Cysbio produces sustainable biochemicals by modifying microorganisms and enabling them to convert simple sugars into biochemical products. The company has attracted so much attention that the EU with ‘Horizon 2020’, the largest research and innovation program in the EU, has chosen to support Cysbio with two grants totaling DKK 33 million (4,4 million EUR).
“The grants from the EU are a huge recognition of our work and are essential for our future development,” explains Alex Toftgaard Nielsen, CSO & Co-founder, Cysbio and Professor at The Novo Nordisk Foundation Center for Biosustainability.
“The grants from the EU are a huge recognition of our work and is essential for our future development”
Alex Toftgaard Nielsen, Co-founder of Cysbio and Professor at The Novo Nordisk Foundation Center for Biosustainability
Financial boost creates possibilities
One grant consists of DKK 15 million under the program Horizon 2020, EIC (European Innovation Council) to develop amino acids for use in food and animal feed. The program extends over 24 months in 2021 and 2022.
The second grant is the Horizon 2020, FTI (Fast Track Innovation) program and consist of DKK 18 million for completion, upscaling, and initial production of zosteric acid (eelgrass acid). Within this FTI program, Cysbio collaborates in a consortium together with the Belgian pilot and demonstration facility Bio Base Europe Pilot Plant as well as the German chemical and consumer company Henkel. Cysbio leads the project and will also develop and market zosteric acid. Bio Base Europe Pilot Plant will ensure the initial production and Henkel will test and market the end products. This program also runs in 2021 and 2022.
With the extra funds, Cysbio will expand activities in 2021 both with more employees and with extra office and laboratory facilities.
“This financial boost will allow us to enter the market faster with our products allowing for new and environmentally friendly solutions to be quickly applied within more sectors. We are proud of this recognition of Cysbio and our technologies, and at the same time very grateful that the EU has a funding program promoting the development of the green agenda and helping start-ups like Cysbio to cross the finishing line,” explains Henrik Meyer, CEO and Co-founder, Cysbio.
In addition to the products that will be helped by the two Horizon 2020 programs, Cysbio’s product pipeline covers other green products with applications in many different fields. This gives Cysbio a unique opportunity to establish itself as one of Denmark’s new important biotech companies.