Danisco see future in French biotech company
Danisco will invest in TMI Europe, which has developed an anti-microbial system based on the natural enzyme, Lactoperoxidase.
Danisco has revealed plans for its eighth Venture investment. The Danish giant will invest in the French food safety and protectant company TMI Europe SA. Jakob Rybak-Andersen, Investment Director of Danisco Venture would not reveal the size of Danisco’s investment in the small company that employs six people, but told FoodIngredientsFirst that it would be “more than 1 million euros.”
TMI Europe has developed an anti-microbial system based on the natural enzyme, Lactoperoxidase, which is similar to that found in a baby’s stomach. The system, named Catallix, has the potential to replace existing chemical systems, based on e.g. chlorine, to treat vegetables, fruits, meat, etc. against bacterial infections. Chlorine solutions to decontaminate food products will be forbidden in 2006 according to recent EU regulation. This is expected to create market opportunities for new, competitive and natural anti-microbial solutions.
“TMI has interesting growth potential. They are now entering the commercial phase and need cash to bring their product to market,” Rybak-Anderson said. He noted that the company has made a number of tests with customers but now needs “more muscle to generate substantial sales.”
Danisco began its ventures program in 2001 and has since invested in two companies in Germany, one in the Netherlands, two in Denmark, two in the US and now one in France. Rybak-Anderson said that there were no concrete plans about where the next investment would take place, but he said that they definitely hoped to make another in 2005. “We are very happy with our portfolio today and the companies have good potential to prosper in the future,” he concluded.
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