IUCT Knowledge Capital Fund invests €270,000 in Phyture Biotech
This University of Barcelona spin-off is making groundbreaking use of plant stem cells for cosmetics and dermatology in Spain.
By Biocat
The Knowledge Capital Fund, managed by IUCT Emprèn (one of the companies in the IUCT group), has invested €270,000 in Phyture Biotech as part of their capital increase. This is the first investment the Knowledge Capital Fund has made since its creation in 2011. The news was announced today at the Biospain congress held in Bilbao.
Phyture Biotech is a spin-off of the University of Barcelona Faculty of Pharmacy that specializes in the production of main active ingredients from plant cultures with high value added and recombinant proteins to be used in the cosmetic and pharmaceutical sectors. Albert Jané and Òscar Expósito are the two young entrepreneurs heading up this company that had a turnover of €170,000 in 2011 and has an estimated value of €1.2 millions. The company is based in Terrassa (Barcelona).
Since it was founded in 2009, Phyture Biotech has focused its activity on a technology platform for plant cell cultures. With this technology, they can modify the metabolism of the cells in order to obtain innovative extracts with high value added that are more efficient and safer than traditional compounds. Phyture is currently working on a range of products using cells from unique plant species (which will become active ingredients for the cosmetic, dermatology and pharmaceutical sectors) and researching ways to optimize the technology to produce recombinant proteins. Although plant cells aren’t commonly used, they have great potential for the future in this sector given their characteristics and competitive advantages, according to the company.
The Knowledge Capital Fund invests in biotechnology, pharmaceutical and chemical companies in the early stages of growth. Their contributions are not solely financial, but can also be used to generate synergies with other companies in the group and contribute technological value added. The fund is currently studying other operations and hopes to close another investment agreement before the end of the year. They expect to invest some €4 millions per year for a total of €400 millions over 10 years.