Funding

CarboCode funding news – CarboCode has Raised €15Million in a Series C Round Funding

Dec 4, 2024 | By Kailee Rainse

CarboCode funding news - CarboCode has Raised €15Million in a Series C Round Funding

CarboCode, a biotechnology company in Cantanhede, Portugal, has raised €15M in a Series C funding round led by Iberis Capital, a Portuguese venture capital firm.

The company, based at the Biotechnology Innovation Center in Biocant Park, has developed a platform to produce human-identical glycosphingolipids and gangliosides on a large scale.

These compounds, found naturally in breast milk and organ membranes, are essential for brain function, controlling inflammation, and gut health. CarboCode operates a Development and Scale-Up facility in Portugal and a Research Center in Konstanz, Germany, with a focus on advancing health-focused biotechnology.

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It aims to improve industries like nutrition and healthcare by replicating important biological components.

The company is growing its team from 35 employees, including 16 PhDs, by hiring 15 more researchers to develop new products and advance ganglioside research.

It’s new factory at BioCant Park will produce up to 100 tons of gangliosides each year.

The company focuses on applications in infant nutrition, cosmetics, dermatology, and brain health. Its first products aim to add gangliosides to milk formulas, making them more similar to breast milk. Gangliosides are important molecules that help with cell communication and protect against immune attacks.

Funding Utilisation

CarboCode will use the funds to meet regulations in important markets. It plans to get approvals in the European Union and the United States by 2027 and in China by 2028.

Jorge Santos, CEO of CarboCode, says, “Access to human-identical gangliosides presents a rare opportunity to make a real positive impact on people’s lives. CarboCode’s technologies enable the production of these compounds, driving our commitment to making this dream a short-term reality.”

About CarboCode

At CarboCode, they're passionate about improving human health and driven to achieve the impossible. They've assembled a team of top scientists in biotechnology, enzyme technology, and chemistry at our research center in Germany to develop the science behind human sphingolipid production.

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